The term life insurance market is still meeting the needs of many Canadians. 

The ten-year policy, commonly known as T10, is the most popular product in this line. 

In fact, InsuranceINTEL, the Canadian life and health insurance product intelligence centre, has counted no fewer than 18 insurers in the term market. Each has its own strategy, and each product has one feature that sets it apart from the others. 

For example, only UV Insurance lets insured renew a T10 policy for their entire life. The competition generally limits renewal to age 85 or 100. This insurer is also the only one to cap the issuance of such policies at age 65; the other players set higher thresholds. 

The age limit also varies greatly from one insurer to another, with most offering a maximum of age 75, while some set a lower limit of age 70.

Another differentiating factor in T10 is the policy fee. Only one insurer waives this fee: Canada Life. Other insurers charge between $25 and $60 per year. 

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