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Products > Life
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Not linked to your mortgage and won’t decrease as your mortgage is paid down or if you move to another financial institution.
Life insurance benefits are tax-free and payable to your beneficiaries as soon as 15 days after the claim is approved.
Your premium will not change for the entire length of your policy term.
Your coverage stays with you, even if you change jobs or retire.
Your group life insurance provides valuable protection for your family, but it may not be enough to provide the financial security you need when your plan terminates or if you’re already retired. Final expenses, post-secondary education for children or grandchildren, a secure retirement for your spouse, and covering mortgage costs are all things to consider. OTIP offers four life insurance plan options, each with a range of coverage amounts and term lengths. Find the coverage that’s right for you and apply online.
Carrier
Applicant Age
Term
Renewable?
Coverage
Available up to
Convertible?
Medical Required?
LifePlan Apply Online
Teachers Life
18-60
10, 15, 20, 25
Renewable
No
Age*
Max Amount
< 45
$1,000,000
46-50
$500,000
51-55
$250,000
56-60
$150,000
*Based on closest age. E.g. 55 years and 182 days eligible for $250,000, 55 years and 183 days eligible for $150,000.
Age 70
LifePlan 100 Apply Online
20-70
100-year
$10,000 - $250,000
Age 100
Yes — blood and urine
LifePlan 10 Apply Online
Manulife
18-70
10-year
Yes
$25,000 - $1,000,000
Age 85
Yes — policy can be converted to any permanent Manulife insurance policy up to age 69.
LifePlan 20 Apply Online
19-65
20-year
$50,000 - $1,000,000
Yes — partial or whole conversion to a permanent Teachers Life insurance policy is offered up to age 65
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