What is term life insurance?

It’s affordable, easy-to-understand coverage for Canadians.

Term life insurance from Sun Life Canada offers protection for a fixed payment amount, for a given number of years.

You can choose the amount of time you need. This could be 10, 15, or 20 or more years.

What’s the benefit of getting term life insurance?

If you die while your policy is still in effect, then the person or people you name as your "beneficiaries" will get a tax-free payment.

Your beneficiaries can then use that payment for any reason. For example, they can use it to pay:

  • debts,
  • the mortgage or rent,
  • child-care costs,
  • living expenses and more.

Compare our products and find out what’s right for you

  Sun Life Go Simplified Term Life Insurance SunSpectrum Term Life Insurance Sun Life Go Term Life Insurance SunTerm Life Insurance
How much coverage can I get?

$50,000 and up

$50,000 and up

$100,000 and up

$250,000 and up

Can I get a quote online? 


An advisor can get you a quote.


An advisor can get you a quote.

How long does my coverage last? You have the option to renew coverage once your term ends.

10 years

Your choice of 10, 15, 20 or 30 years

Your choice of
10 or 20 years

Your choice of 10, 15, 20, or 30 years

What are the issue ages? Issue age is the age range you must fall within to buy the policy. You choose how long you think you will need your protection for. With Term insurance, even if you need your coverage longer, it is renewable and doesn’t end until age 85.

Term 10: 18 - 69

Term 10: 0 - 75

Term 15: 0 - 70

Term 20: 0 - 65

Term 30: 0 - 55

Term 10: 18 - 69

Term 20: 18 - 69

Term 10: 18 - 75

Term 15: 18 - 70

Term 20: 18 - 65

Term 30: 18 - 55

How many people can be covered?

Just one

Up to 5 people

Just one

Up to 5 people

Can I convert to permanent life insurance later? N/A Yes N/A Yes
Where can I learn more? More about Sun Life Go Simplified  More about SunSpectrum Term More about Sun Life Go Term More about SunTerm
Download brochure        
How to buy Get a quote for Go Simplified Find an advisor for SunSpectrum Term Get a quote for Go Term Find an advisor for SunTerm

Eligibility and rules for our term life insurance products

In order to apply for any of these products, you must currently be living in Canada.

When you apply, you’ll have to go through the underwriting process. Underwriting is the process of assessing your risk when you apply for insurance. This helps us determine the coverage you’re eligible for and ensures your premiums (monthly or annual insurance fees) reflect your level of risk. Your risk level ultimately decides your premium.

If you get term insurance, you can renew your policy after your term ends, but your coverage will expire at age 85. 

Frequently Asked Questions

Term coverage provides protection for a fixed payment amount, for a given number of years. This could be 10, 15, or 20 or more years. You can choose the amount of time you need.

What happens if you were to die during this set time period? Then your beneficiaries – the people or person you want to leave money behind to – will get a tax-free death benefit.

The death benefit refers to the amount of money your beneficiary gets when you die. The exact amount they get depends on how much life insurance coverage you buy. Your beneficiaries can then use the money from that benefit for any reason. 

Because of its affordability and flexibility, term life insurance can be a good solution to help you manage risk while providing for your dependents.

However, its true value lies in the peace of mind it can offer. It offers the assurance your loved ones can be financially supported at a time when they need it most.

Unsure if term life insurance is right for you? Consider getting some advice. An advisor can explain your options, answer your questions and help you build life insurance into your overall plan.

Most advisors now offer virtual services and provide consultations by phone or video chat. Find an advisor today.

Why Canadians choose Sun Life

We’ve been paying claims in Canada for more than 155 years. And today we’re there for millions of Canadians during the most important moments of their lives. We’re committed to helping Canadians achieve lifetime financial security and live healthier lives.  

Get term life insurance from Sun Life Canada

Protect what matters most with Term Life Insurance from Sun Life. 

  • Apply online

    You can find a new plan in 3 easy steps:

    1. Tell us about yourself.

    2. Select your coverage.

    3. Get a quote.

    Get started

  • Speak with an advisor

    Sun Life advisors look carefully at your specific needs to help you develop a personalized plan. They'll work with you to understand your goals and what you want to achieve.

To find an advisor near you, enter your postal code:

Want to learn more about Term Life insurance from Sun Life?
  • Replace your group life insurance

    • If you’re leaving an employer’s group benefits plan with any provider, you may qualify for a Sun Life Choices plan. 
    • You can convert to My Life Choice within 60 days of when your workplace coverage ends.
    • Answer some simple health questions and apply online in just minutes.

    Get started  Learn more about My Life Choice