Term 100 is one of the most overlooked products in Canadian life insurance — a policy that charges a level premium to age 100 with no cash-value component. It's cheaper than whole life, more permanent than term, and misunderstood by almost everyone who encounters it. For the right buyer, it's a quietly excellent fit.
What makes it a hybrid
Like whole life, Term 100 is permanent — it doesn't expire as long as you pay the fixed premium, and the death benefit stays level for life. Unlike whole life, it builds no cash value, which keeps the cost well below a traditional permanent policy. You get permanence without paying for an investment component you may not want.
Who it fits
Term 100 suits buyers who need lifelong coverage — for final expenses, a legacy, or estate liquidity — but who don't need the cash-value growth of whole life and don't want to pay for it. It's often the right answer for older applicants seeking permanent protection at the lowest permanent cost, and for those who'd rather invest separately than inside a policy.
The trade-off to weigh
Because there's no cash value, a Term 100 policy you later want to drop has little to recover — unlike whole life, which accumulates a surrender value. The commitment is more one-directional. We compare Term 100 against term and whole life using your actual goals, so the product you choose matches the problem you're solving rather than a category you were sold.
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