Ten companies offer a total of 18 simplified issue term life insurance products, InsuranceINTEL, a sister publication of Insurance Portal, found.
The table below compares the features of these coverages. It shows that:
- The minimum face amount starts at $10,000 with iA Financial Group's Access Life Deferred Plus and Immediate Plus products. In fact, the minimum amount is $50,000 for most of the products offered. Canada Protection Plan’s CPP Preferred Elite Term product sets the highest minimum face amount, at $500,000;
- The only company to offer a joint life option is UV Insurance;
- Most companies offer at least two term choices. Two companies provide only one choice: The Co-operators offers a 1 year term through its Term Life 1 product, and Foresters Financial, offers 10 years through its E-Z Term product.