5 Silent Risks of Life Insurance Term Life

68% of new Canadian term-life buyers admit they're still uncertain about their coverage. These hidden gaps can cost more than a missed premium.

1. Underestimation of needed coverage. Many policies are sized for a single year of income, not the full replacement period.
2. Term length mismatch. A 20-year term may end before a mortgage or children's education are finished.
3. Exclusion clauses. Certain illnesses or accidental deaths may be excluded, reducing the benefit.
4. Premium escalation. Some policies increase premiums after a set number of years, creating a future cash-flow burden.
5. Policy lapse risk. Missing a premium can terminate coverage entirely, leaving a gap in protection.

Review each factor carefully before finalizing a policy.

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