Fenrich Financial
Edmonton Employee Health and Dental Benefits

Life Insurance

Life Insurance



Term life insurance is well-suited to meeting large, short-term protection needs for the lowest initial cost. A couple with young children and a mortgage might select term life insurance as an affordable way to obtain the full coverage they need today.

Term life insurance policies meet immediate needs and are renewable after 10 or 20 years without providing proof of health. The price will increase at renewal, and the increase in premium can become substantial in later years. Coverage ceases for the majority of term contracts once you reach the age of 75 or 80.

Term Life Insurance

Term life insurance provides the option to later move or convert to a permanent life insurance policy without providing proof of health. However, this ability to convert to permanent life insurance often expires around age 65 or 70. When purchasing term life insurance, you need to understand your conversion options.


Permanent life insurance protects you for your lifetime. It can build cash surrender values and provide a death benefit. Our Edmonton Employee Life Insurance proceeds bypass probate and estate taxes if made payable to a named beneficiary and not the estate.


Participating life insurance, also called whole life insurance, provides permanent life insurance with a tax-advantaged cash value component. In addition, these policies have the potential for earning policy owner dividends. Participating life insurance doesn’t require hands-on management by the policy owner. 


Universal life insurance provides a traditional life insurance component with a tax-advantaged investment component. You select an investment mix that is as individual as you are—taking into account the amount of investment risk you’re comfortable with and your financial goals and circumstances. This type of policy is attractive for people who want to actively manage their life insurance policy.