Ontario · Relationships for life — across generations.
Life insurance over 60 in Ontario
After 60 the reason for coverage shifts — protecting a spouse, clearing a remaining mortgage, covering final costs. The products change, and so does the honest cost. Here is how to think about it.
What the coverage is for now
It is less about replacing decades of income and more about the sums you would leave: a spouse's housing, a remaining debt, final expenses. A smaller coverage amount is often the honest fit at this stage.
Term to a later age
Some insurers will still write term into your 70s or 80s, but the premium is higher and the term usually caps at a set age. The same coverage can also be done with a whole-life or simplified-issue product.
No-medical is a real option
If a full medical is a problem at this age, no-medical (Canada Protection Plan) is a separate system with no exam — Preferred, Simplified Elite, and Deferred Elite rungs. It costs more than a healthy standard term file, which is the trade for skipping the exam.
The honest caution
Premiums after 60 are higher and the available term may be shorter. We never invent a 'from $X' figure. Leave your number and Habib's broker will call — usually Habib — to walk through what actually fits at your age.
Questions
- Can I get term life at 65?
- Some insurers write term into your 70s or 80s, subject to underwriting and a higher premium. The honest fit depends on your health and the amount needed.
- Is no-medical better over 60?
- If a full medical is a problem, no-medical avoids the exam but costs more. If you can pass a standard medical, a term file usually gets a better sampled rate.
See no-medical rates
Habib’s broker will call within one business hour — usually Habib. Or dial (647) 512-7271 now.