Simplified issue life insurance is a type of no medical life insurance designed for Canadians who want coverage without a medical exam. Instead of lab tests or physicals, applicants answer a short health and lifestyle questionnaire.

Unlike guaranteed issue life insurance—which asks no health questions and is often a last resort for those with severe conditions—simplified issue offers higher coverage and more competitive rates.

In this post, we’ll focus on simplified issue life insurance in Canada: how it works, who it’s for, and what to look for when choosing a policy.

When you buy life insurance, disability insurance, or critical illness coverage, you’re making a long-term financial commitment to protect yourself and your loved ones. But what happens if your insurance company goes under?

That’s where Assuris comes in.

Assuris is a not-for-profit organization that protects Canadian policyholders in the unlikely event their life or health insurance company fails. In this post, we’ll explore how Assuris works, what it covers, and why you can feel confident knowing your insurance is protected.

Your term life insurance policy is set to expire, and you’re faced with a big decision—should you renew, replace, cancel, or convert your term life insurance into a permanent plan? Making the wrong choice could leave you without the protection your loved ones need.

Many people assume their only option is to buy a new policy or let their coverage lapse, but there’s another solution: term life insurance conversion. With this option, you can switch to a permanent policy without medical exams, ensuring lifelong coverage even if your health has changed.

Imagine securing a policy that never expires, builds cash value, and protects your family or estate no matter what happens. Whether you want to leave a legacy, cover final expenses, or create a tax-efficient asset, converting your term policy could be the smart move.

In this guide, we’ll walk you through how term life insurance conversion works, its benefits, drawbacks, and alternatives—so you can make the best decision for your future. Keep reading to learn if converting your term policy is right for you.

Life doesn’t stand still, and neither should your life insurance. When you first bought your term life insurance policy, you likely chose a term length based on your financial situation at the time. But what happens if your needs change? Maybe you bought a 10-year term to keep costs low, but now you realize you need coverage for 20 or 25 years. Or perhaps your mortgage has been extended, and you want your life insurance to match.

That’s where a term exchange option comes in. This feature lets you extend your term life insurance policy by switching to a longer term without having to go through medical underwriting. That means even if your health has changed, you can still extend your coverage at a rate based on your current age.

In this guide, we’ll explain how term exchanges work, their benefits, and potential downsides, so you can decide if this option is right for you. We’ll also compare which insurance companies offer term exchanges and what their policies include. And if a term exchange isn’t the best fit, we’ll explore other options like renewing your policy, replacing it with a new one, or converting to permanent insurance.

By the end of this post, you’ll have a clear understanding of your options and be better equipped to make a smart decision about your life insurance.

Is that term life insurance policy you took out a while ago now collecting dust in a drawer? Life has a funny way of evolving, and what felt essential a few years back might feel less so today. Maybe your kids are grown, your debts are shrinking, or your financial picture has simply shifted.

If you’ve been wondering whether you have any flexibility with that term life insurance—specifically, if you can actually cancel it—you’re definitely not alone. It’s a really common question, and understanding your options is key to feeling in control of your finances.

Good news: yes, you can cancel your term life insurance policy. This guide will walk you through exactly how to do it, explaining the simple steps involved. But before you make any decisions, it’s crucial to understand what happens when you cancel. We’ll break down the implications, including what you might lose and what to consider before taking that step. Finally, because cancelling isn’t always the best or only answer, we’ll discuss some smart alternatives you might want to consider first.

Let’s get started and give you the complete picture so you can make a confident, informed decision about your term life insurance.

Have you ever wondered if your term life insurance could do more than just protect your loved ones?

You’re not alone. It’s a common concern when you’re trying to balance protection with smart financial planning. You want to know that you’re not missing out on potential benefits that could help grow your wealth.

Having a life insurance policy that provides a tax-free payout to your family when you need it most, while also offering opportunities to build wealth over time, is a thoughtful approach to financial planning. While term life insurance doesn’t accumulate cash value, understanding why—and what alternatives exist—can empower you to make informed decisions that truly align with your financial goals.

Keep reading as we break down the essentials of term life insurance, explain why it doesn’t accumulate cash value, and introduce you to alternative strategies if you’re looking for more than just a financial safety net for your loved ones. Let’s demystify your options and set you on the path to a more secure future.