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Term Life Insurance

The easy, affordable way to help protect your loved ones

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Coverage for every age
and stage of life

Your insurance needs change over time. Major events like getting married, buying a home, having a baby or retiring can all increase the need for protection.

Single or recently married?

If you want simple, affordable life insurance coverage, CAA 5-Year Term Life Insurance is a great short-term solution. Giving you an easy, low-cost way to help protect your loved ones, this term life insurance plan is available to Canadian residents aged 18 to 70.

Your coverage could increase by 5 per cent every year (for up to 10 years) if you choose the optional Automatic Increase Benefit. **

** The 5% Automatic Increase Benefit is optional, and no medical exams or questions are required to obtain it. By selecting this option when you sign up for CAA Term 5 Life insurance, your initial coverage amount will increase by 5% every year. This allows your coverage amount to keep pace with increases in the cost of living. Please note that premiums are adjusted accordingly. The increase applies for a maximum period of 10 years or until your 56th birthday or when you ask to stop it, whichever occurs sooner.

5-YEAR TERM BANNER

Features & Benefits

  • Coverage amounts from $50,000 up to $500,000
  • Insurance rates are locked-in for 5 years
  • Save 15% every year on coverage amounts of $250,000 or more
  • Living Benefit cash advance - you could receive an advance of up to 50% (max. $100,000) of your coverage if you are diagnosed as terminally ill with 12 months or less to live
  • Guaranteed renewable up to age 75
  • Option to convert to CAA Lifetime Protection Plan or CAA Term 20 Life Insurance (before age 56)
  • Includes Health Service Navigator® to help you make informed health care decisions*
  • Tax-free, lump-sum benefit paid to your beneficiaries
  • Simplified application makes applying for coverage of $50,000 or $100,000 fast and easy if you are age 50 and under

* The insurer cannot guarantee the availability of this benefit indefinitely.

Exclusions & Limitations

No benefit is payable under the CAA 5-Year Term Life Insurance Plan in the case of suicide, within two years of the effective date of the coverage. We will instead return all premiums paid, without interest.

This is not a contract. Actual terms and conditions are detailed in the certificate issued by Manulife upon final application approval. It contains important details concerning exclusions, conditions and limitations. It is important that you read your insurance certificate when you get it to understand exactly what you are covered for.

Health Service Navigator® is offered through The Manufacturers Life Insurance Company (Manulife).


Married, young family, own a home?

If you want long-term protection for your family and assets, CAA Multi-Term Life insurance is the ideal choice. Offering you an affordable way to help safeguard your loved ones' financial future, these term life insurance plans are available to Canadian residents aged 18 to 65 (10-Year Term), 18 to 60 (15-Year Term) and 18 to 55 (20-Year Term).

CAA Member Exclusive Benefit: Your coverage will increase by 2 per cent every year – at no extra cost to you (for up to 5 years).

MULTI-TERM BANNER

Features & Benefits

  • Coverage amounts from $50,000 up to $1,000,000
  • Insurance rates are locked-in for the term you choose: 10, 15 or 20 years
  • Save 25% every year on coverage of at least $250,000; 30% on amounts of $500,000+
  • Critical Illness Benefit included (up to a max. of $15,000)
  • Living Benefit cash advance - you could receive an advance of up to 50% (max. $100,000) of your coverage if you are diagnosed as terminally ill with 12 months or less to live
  • Guaranteed renewable up to age 75
  • Option to convert to CAA Lifetime Protection Plan (before age 71)
  • Includes Health Service Navigator® to help you make informed health care decisions*
  • Tax-free, lump-sum benefit paid to your beneficiaries

* The insurer cannot guarantee the availability of this benefit indefinitely.

Exclusions & Limitations

No benefit is payable under the CAA Multi-Term Life Insurance Plan in the case of suicide, within two years of the effective date of the coverage. We will instead return all premiums paid, without interest.

This is not a contract. Actual terms and conditions are detailed in the policy issued by Manulife upon final application approval. It contains important details concerning exclusions, conditions and limitations. It is important that you read your insurance policy when you get it to understand exactly what you are covered for.

Health Service Navigator® is offered through The Manufacturers Life Insurance Company (Manulife).


Middle-age, children in school, mortgage?

If you want to have lifetime insurance coverage in place to help safeguard your loved ones – even after your group life plan ends and/or at age 75 or 80 when most term life plans expire – the CAA Lifetime Protection Plan is a great solution. Offering you low rates that are locked-in forever, this permanent life insurance plan is available to Canadian residents aged 18 to 75.

This life insurance helps protect you for your entire lifetime, with no premium payments required after age 100.

LIFETIME-PROTECTION BANNER

Features & Benefits

  • Coverage amounts from $50,000 up to $500,000
  • Insurance rates are locked-in forever
  • Save 15% every year on coverage of $250,000 or more
  • Living Benefit cash advance - you could receive an advance of up to 50% (max. $100,000) of your coverage if you are diagnosed as terminally ill with 12 months or less to live
  • Includes Health Service Navigator® to help you make informed health care decisions*
  • Tax-free, lump-sum benefit paid to your beneficiaries

* The insurer cannot guarantee the availability of this benefit indefinitely.

Exclusions & Limitations

No benefit is payable under the CAA Lifetime Protection Insurance Plan in the case of suicide within two years of the effective date of the coverage. We will instead return all premiums paid, without interest.

This is not a contract. Actual terms and conditions are detailed in the policy issued by Manulife upon final application approval. It contains important details concerning exclusions, conditions and limitations. It is important that you read your insurance policy when you get it to understand exactly what you are covered for.

Health Service Navigator® is offered through The Manufacturers Life Insurance Company (Manulife).


Coverage for your family, both now and in the future.

If the unthinkable was to happen to your child or grandchild, the CAA Early Start™ Child Term Life Plan can ensure that financial considerations don’t add to your family’s burden. Offering a tax-free, lump-sum payment of up to $35,000, this term life insurance plan is available to healthy children between the ages of 60 days and 12 years.

This term life insurance can also ensure the child’s future insurability as they will have the option to convert their coverage to other CAA insurance before age 26.

CHILD-LIFE BANNER

Features & Benefits

  • Coverage amounts from $5,000 up to $35,000
  • A child’s parent, grandparent or legal guardian can apply and be the policy owner until the child is 21 years of age
  • Insurance rates are locked-in and coverage can continue up to age 26
  • Life insurance amount automatically triples at age 21
  • Additional 50% death benefit if the child dies as a result of a car accident while wearing their seat belt
  • No medical exam or questions when you apply: just sign a simple declaration of the child’s current health
  • Option to convert to CAA 5-Year Term Life, 20-Year Term Life or Critical Illness insurance before age 26
  • Tax-free, lump-sum benefit paid to the policyholder

Exclusions & Limitations

No benefit is payable under the CAA Early Start™ Child Term Life Insurance Plan in the case of suicide, within two years of the effective date of the coverage. We will instead return all premiums paid, without interest.

Pre-existing Condition

No benefits will be paid if the death of the insured child occurs during the twenty-four (24) month period following the effective date of coverage and results from or is in any way associated with a pre-existing condition. "Pre-existing condition" means any injury, illness or physical condition, whether diagnosed by a physician or not, for which medical treatment was sought, recommended, required or obtained, or for which drugs were prescribed and/or taken within the 24-month period immediately prior to the effective date of coverage.

This is not a contract. Actual terms and conditions are detailed in the policy issued by Manulife upon final application approval. It contains important details concerning exclusions, conditions and l imitations. It is important that you read your insurance policy when you get it to understand exactly what you are covered for.


Applying for coverage is simpler than ever before

Our new simplified application makes applying for CAA Term-5 Life Insurance amounts of $50,000 or $100,000 easy. There are no medical exams or long health questionnaires when you apply, if you are age 50 or under. Just answer three questions and you can be approved for coverage automatically. It's that simple!

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Term Life Insurance for everyone

Single/ Recently Married/ Buying a Home

Help protect your loved ones' financial security.

Term Life Insurance for young families

Married/ Young Family/ Own a Home

Help safeguard your growing family and financial obligations.

Term Life Insurance for kids

Established/ Kids in School/ Mortgage

Help protect your family's lifestyle and dreams for your children.

Term Life Insurance for retirement

Nearing Retirement/ Retiree

Help secure your assets, retirement nest egg and legacy.

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