Term Life Insurance with Cancer Protection

With TermLite, you can get covered quickly and affordably, securing life insurance coverage of up to $500,000 - no medical exams required.

With the optional Cancer Add-On, you receive a payout upon diagnosis to help ease financial stress: 

• Benefit amount of up to $50,000
• Paid upon diagnosis
• Extra support to help with medical costs

Combined, this package gives you peace of mind, knowing you’re covered no matter what life brings.

Types of Cancer Covered

• The full benefit amount is paid upon the diagnosis of a major cancer, defined as: "A tumour characterized by the uncontrolled growth and spread of malignant cells and the invasion of healthy tissue. It must be diagnosed by a specialist and confirmed by a pathology test. Types of cancer include carcinoma, melanoma, leukemia, lymphoma, and sarcoma."
• In cases of early intervention or minor cancer 15% of the benefit is paid.
• If a payout was made for minor cancer and a major cancer is later diagnosed, an additional benefit will be paid. The major cancer payout will be reduced by the amount already received for minor cancer. 

Amount of Coverage
You can get coverage ranging from $5,000 to $50,000. However, the maximum cancer protection amount cannot exceed your life insurance coverage. For example, if you have $25,000 in life insurance, your cancer protection cannot exceed $25,000.

Eligibility
Canadian citizens and permanent residents who have held this status for at least six months and are between the ages of 18 and 70 are eligible for this coverage.

Pre-Existing Conditions 
During the first two years of the policy, the benefit will not be paid if the cancer diagnosis is caused by or related to a pre-existing condition. In such cases, all premiums paid will be refunded.