Free calculator · Ontario samples · no email
Term life insurance calculator
Quick answer
Term life insurance in Ontario is priced on five things: your age, your sex, your smoking status, how much cover you want and how long you want it for. Change any one of them and every insurer's premium moves. This calculator takes those five inputs and shows the dated sample premium each of the seven insurers in our advisor-portal extract prices that exact profile at, lowest shown first. It is free, it needs no email address or phone number, and nothing is hidden behind a form. Every figure is a sample premium, subject to underwriting — health, eligibility and the insurer's current pricing determine the final offer.
Sample premiums for a 35-year-old female non-smoker, $500,000, 20-year term
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What this calculator actually does
It is a lookup, not an estimate. The site holds a dated extract of real premiums taken from Ontario insurer advisor portals, and the calculator returns the entry that matches your five inputs for each insurer in turn. That is why the page can show a price without asking for your contact details: the number does not depend on you, only on the profile you select.
Age and sex
Insurers in Canada rate life insurance using age and, where provincial rules allow, sex. A sample for a female applicant is not interchangeable with the male-applicant figure for the same profile.
Smoking status
Tobacco use is a separate rating class and is normally verified during underwriting rather than taken at face value, so the smoker and non-smoker figures are genuinely different products to price.
Coverage and term
The face amount is what pays out; the term is how long the premium stays level. A longer term costs more per month for the same cover, and at the end of the initial term the policy renews at the insurer's rates at that time, which are not the initial rate.
If you want to see the same data organised by age rather than by profile, every published age has a hub — age 35 is a good example — and the full sample rate directory lists every published profile. Sources and method are on the methodology page.
Common questions
- Is there a free term life insurance calculator for Ontario?
- Yes. This calculator is free, needs no email address and no phone number, and it is not gated — you choose the age, sex, smoking status, coverage amount and term, and it shows what each of the seven insurers in our extract prices that profile at. Every figure is a dated sample premium, subject to underwriting.
- How does a life insurance premium calculator work?
- It maps your profile onto real published rates. Insurers price term life on age, sex, smoking status, the face amount and the term length, so the calculator takes those five inputs and returns the sample premium recorded in our advisor-portal extract for each insurer. It is a lookup against dated real data rather than an estimate or a formula.
- Can a calculator give me an exact price?
- No. No calculator can, because the final premium is set at underwriting: health history, lab results, family history and the insurer's current pricing all move it. What this page shows is the lowest shown sample for your profile, dated, so you can see the range between insurers before applying. Subject to underwriting.
- Why do the seven insurers show different premiums for the same profile?
- Each insurer prices the same risk with its own underwriting rules, health-class definitions and policy features, so identical coverage and term can carry different sample premiums. The spread is not a discount and not a promise of savings — a lower sample is not automatically a better policy, because conversion options, eligibility and features differ.
- Does this calculator include no-medical products?
- Canada Protection Plan is shown separately because its no-medical plans are priced and underwritten under different rules, so including it in the same comparison would not be like for like. The other six rows are medically underwritten term samples. Subject to underwriting.
- What if the coverage amount I need is not in the list?
- The extract publishes $100,000, $250,000, $500,000 and $1,000,000. If your number sits between two of those, compare the higher one — the sample difference between adjacent amounts is usually small next to a shortfall at claim time. Use the coverage calculator to size the amount first, then return here for the premium.