💰 “Why Life Insurance Is Cheaper Than You Think — and Why Waiting Costs You More”
By Ram Bavanari | United Life Financial
Most people delay buying life insurance because they assume it’s expensive.
But the truth is — the cost of waiting is often far higher than the cost of buying now.
Let’s break down why life insurance in Canada is more affordable than you think, and why starting sooner can save you thousands over time.
1️⃣ The Biggest Misconception: “It’s Too Expensive”
A lot of people think life insurance costs hundreds of dollars a month — when in reality, it can cost less than your daily coffee.
Example:
A healthy 30-year-old non-smoker can often get $500,000 of term coverage for under $30/month.
That’s less than $1/day — to protect your family, mortgage, and income.
✅ Tip: Compare real quotes before assuming you can’t afford it.
You can get instant online quotes at UnitedLife.ca — no obligation, no pressure.
2️⃣ How Age Affects Your Premium
Life insurance premiums are based on age and health.
Every year you wait, you’re one year older — and the cost of insurance rises.
Here’s an example:
Age 30: $25/month for $500,000 Age 40: $45/month for the same coverage Age 50: $90+/month
The longer you wait, the more you pay — and if your health changes, you may not qualify at all.
That’s why starting early locks in the lowest possible rate for decades.
3️⃣ Healthy Today, Unknown Tomorrow
Insurance companies reward health. The younger and healthier you are, the less you pay.
Even small changes — high blood pressure, diabetes, or weight gain — can shift you from “Preferred” to “Standard” or “Rated” categories, increasing your cost.
✅ Tip:
Don’t wait until “later.” If you’re healthy today, that’s the best time to secure coverage.
You can always adjust the amount later as your income or family grows.
4️⃣ The Real Cost of Waiting
Let’s say two friends each want $1 million of coverage:
Amit, age 35, buys a 30-year term policy today: $60/month. Raj, age 40, waits 5 years: $105/month.
Over the life of the policy, Raj ends up paying $16,200 more — for the same coverage, just because he waited.
That’s money that could have gone into savings, RRSP, or RESP.
5️⃣ Term Life Isn’t the Only Option
If you want lifelong protection or tax-advantaged savings, permanent insurance (Whole Life or Universal Life) may be ideal.
It can build cash value you can borrow against or use later for retirement.
Many smart Canadians combine both — for example:
$900,000 Term 30 for protection now $100,000 Permanent for lifetime coverage and investment growth
At United Life Financial, we help you design that blend for your goals and budget.
💡 The Bottom Line
Life insurance isn’t just a bill — it’s a gift of financial security for your family.
And the earlier you start, the cheaper and easier it is to get approved.
So, don’t wait for “the right time.” The right time is when you’re healthy and insurable — which is usually now.
✅ Get Your Instant Quote Online
Visit 👉 www.UnitedLife.ca
📞 905-906-7000
📧 info@unitedlife.ca
Compare quotes from top Canadian insurers instantly and find the coverage that truly fits your life and budget — all in one place.
