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Life Insurance


 

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in less than 5 minutes


 

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to speak with a Life and Living Benefits Sales Representative.

1-800-267-6847

Advantages of OTIP Life Insurance

 

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.

More protection for your loved ones

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

Carrier

Teachers Life

Applicant Age

18-60

Term

10, 15, 20, 25

Renewable

No

Coverage

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.

Available up to

Age 70

Convertible?

No

Medical Required?

No

 

LifePlan 100

Apply Online

Carrier

Teachers Life

Applicant Age

20-70

Term

100-year

Renewable

No

Coverage

$10,000 - $250,000

Available up to

Age 100

Convertible?

No

Medical Required?

Yes — blood and urine

 

LifePlan 10

Apply Online

Carrier

Manulife

Applicant Age

18-70

Term

10-year

Renewable

Yes

Coverage

$25,000 - $1,000,000

Available up to

Age 85

Convertible?

Yes — policy can be converted to any permanent Manulife insurance policy up to age 69.

Medical Required?

Yes — blood and urine

 

LifePlan 20

Apply Online

Carrier

Teachers Life

Applicant Age

19-65

Term

20-year

Renewable

Yes

Coverage

$50,000 - $1,000,000

Available up to

Age 85

Convertible?

Yes — partial or whole conversion to a permanent Teachers Life insurance policy is offered up to age 65

Medical Required?

Yes — blood and urine

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