It depends on the type of coverage you choose. Generally, term insurance is more affordable than permanent insurance. But there are a lot of factors that determine the cost of your policy, including:
- Age: Generally, insurance is less expensive when you’re younger.
- Health: Family history, chronic diseases and lifestyle can increase costs.
- Gender: Women live longer than men on average, so Insurance may cost less.
- Occupation: If you have a dangerous job, your insurance costs can be higher.
Easy answer provided by FSCO (Financial Services Commission of Ontario)