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How much does term life insurance cost in Canada?

Premiums for a 40 year old, non-smoking male, $500k in coverage for a 15-year term life policy

What is this table about
Coverage Amount
Premiums
$100,000
$11.43
$250,000
$19.35
$500,000
$31.32
$100,000,000
$53.82
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How much does term life insurance cost in Canada?

Premiums for a 40 year old, non-smoking male, $500k in coverage for a 15-year term life policy

Life Insurance Companies
Price
PolicyMe
$26.44/month
Canada Life
$27.86/month
RBC
$28.22/month
BMO
$29.95/month
Sun Life
$34.65/month
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Average life insurance cost by coverage amount

Based on premiums for a 20 year term policy for a 35 year old male, non-smoker

Type
Woman
Term life insurance (PolicyMe)*
$45.22
Permanent life insurance*
$337.27
Life insurance for smokers**
$57.27
Life insurance for pre-existing conditions*
$42.75
Life insurance for seniors***
$270.13
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Death Benefit
$500,000
Premium
Monthly: $39.19, or Annual: $432.66
Effective Date
March 1, 2021
Expiration Date
March 1, 2041
Payment Date
Monthly: 1st day of each calendar month, or
Annual: March 1st of each calendar year
Gender at Birth
Female
Premium Class
Non-tobacco user
Date of Birth
07/02/1983
Issue Age
38 (age at your nearest birthday, which could be older than your current age)
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High risk activities: impact on life insurance rates

Example of a base premium starting at $100/month

Rating Class
% Increase
Final Premiums
A or 1
+25%
$125
B or 2
+50%
$150
C or 3
+75%
$175
D or 4
+100%
$200
E or 5
+125%
$225
F or 6
+150%
$250
G or 7
+175%
$275
H or 8
+200%
$300
I or 9
+225%
$325
J or 10
+250%
$350
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Primary Beneficiaries:
Relationship to Policyholder:
Allocation of Death Benefit (%):
Beneficiary Type:
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From:
To:
When a change option is allowed:
10-year policy
15-year, 20-year, 25-year or 30-year policy
At any point before the fifth anniversary of the Effective Date
15-year policy
20-year, 25-year or 30-year policy
At any point before the fifth anniversary of the Effective Date
20-year policy
25-year or 30-year policy
At any point before the fifth anniversary of the Effective Date
25-year policy
30-year policy
At any point before the fifth anniversary of the Effective Date
10-year, 15-year, 20-year, 25-year or 30-year policy
A lifetime policy
At any time, up to and including the policy anniversary nearest to your 69th birthday
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Average life insurance cost by policy type

Premiums for a non-smoker, $500k in coverage

Age
Premiums For Woman
Premiums For Man
20 year term
Whole
20 year term
Whole
35 years old
$22.95/mo
$261.10/mo
$31.32/mo
$314.25/mo
45 years old
$51.61/mo
$434.25/mo
$71.86/mo
$522.00/mo
55 years old
$152.55/mo
$663.75/mo
$214.20/mo
$830.70/mo