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First-to-die for couples, last-to-die for estate taxes.
A joint policy covers two people under one contract. Joint first-to-die pays when the first person dies, often used by couples to protect a shared mortgage. Joint last-to-die pays when the second person dies, often used to fund estate taxes or leave a legacy.
Joint first-to-die can cost less than two policies, but it pays only once, leaving the survivor uninsured. Two individual policies often give more flexibility.
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Who it’s for
Coverage
Pays on the first death.
Pays on the second death, often for estate taxes.
Available on term and permanent policies.
Some policies let the survivor buy new coverage without new medical evidence.
Before you buy
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Every request is matched with an advisor licensed in your province who compares insurers for you, explains the fine print and handles the application. No cost to you and no obligation to buy.
Learn before you buy
Term life gives the most coverage per dollar for a set period, while whole life covers you for life and builds cash value at a much higher price. Here is how to decide.
Read guide arrow_forwardPermanent residents can usually buy life insurance much like citizens, and many work-permit holders and students can qualify too. Here is what insurers look at and how to prepare.
Read guide arrow_forwardMost Canadian families need enough life insurance to clear debts, pay off the mortgage, replace several years of income and fund education. Here is how to add it up with the DIME method.
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