Term 100 Insurance

by Jatinderbir Singh Bajwa, Insurance Broker


What Is Term 100 Life Insurance?

Term 100 Life Insurance offers life-long coverage that provides financial support to your dependents and meets your estate planning needs. T100 is the most basic form of permanent coverageIt means they are actually permanent policies because they have a term of 100 years and best of all, the premiums never increase.

term 100 life insurance

The T100 doesn't accumulate a surrender value, it is actually a verymisunderstood. The name is partially a misnomer. "Term" normally implies that this is a term policy, but Term 100 means they are actually permanent policies because they have a term of 100 years and best of all, the premiums never increase.There is a guaranteed level cost till age 100 with a level face amount and no cash value is there.

 

Some people may classify this as a type of term insurance but the reason it is classified as permanent coverage is because you can never out live the benefit. The policy is considered to be paid up at age 100, meaning no further payments are required after age 100.Your adult children and their spouses can also purchase coverage. The plan is called "Term 100" because you pay the same premium each year to age 100 (after which there is no cost) — it’s guaranteed not to increase.The policies are technically paid up at age 100, so the premiums cease at that point, but the coverage continues. Some Term 100 policies in Canada do offer a cash value, but most of them are offered on a stripped-down basis. This means that the owner does not get any return of premium if the policy is cancelled prior to death.

 

T100 (Lifetime)

Level permanent insurance with protection for life. 3 payment options:

  • pay to age 100,
  • pay for 15 years, or
  • pay for 10 years..