I am looking at purchasing life insurance independently from work-related plans and wondered whether people had suggestions. I am based in Canada and am looking for a decent, honest life insurance broker, but general advice on life insurance would also be useful.
I am on a tight budget, so am looking at term policies rather than the more expensive permanent, whole life, universal etc. ones. I think that if I can pull off a 20-year or 30-year term, which would take me into retirement, that would be good. (Once a policy expires and you find yourself past a certain age, the rates go up exponentially).
Guaranteed renewal (at a particular rate without another medical exam) is probably important in the event that life circumstances render renewal necessary. One can also convert to a whole life, universal etc. policy with many term policies (convertibles) which may be a good idea, although the latter option is quite expensive.
Anything else to consider? Any suggestions regarding how to find a reliable broker?