AS SEEN IN
Policies starting at C$15 /mo
Cyber coverage for C$5 /mo
Our team at Walnut is on a mission to make life insurance accessible and improve the lives of our members with access to valuable member benefits.
Accessible Pricing: We’re spearheading price-first life insurance memberships to create a transparent and trustworthy online buying experience. You’ll always know how much you’re paying right from the start. You can feel comfortable that you’ll never be blindsided by additional fees or commissions.
Member Benefits: To help you live your best life our memberships include access to relevant products and services in addition to your life insurance. These are included as part of your monthly payment and you’ll have access as long as your membership is active.
Term life insurance is one of the most affordable ways to ensure your family is protected financially in the event of your passing. "Term" is the set amount of time that the insurance will last. To determine the right length of time you would want to consider your financial liabilities; mortgage, loans, debt, and end-of-life expenses. Given this type of insurance is for a set period, if you were to outlive the term you would not receive any return on the premium. Your family would also not receive a death benefit.
There are multiple reasons someone would prefer to choose term life insurance. The premium prices are much more affordable, if you need something that would protect your family but are on a budget this is the perfect option. It's also great if you have a family with a mortgage, debt, loans, or want to put your kids through college. This is equally important to have if you have shared investments with a serious partner or even a business partner, the policy would help to protect them from financial loss or burden. The length of the policy would reflect how long you would need to protect your loved ones to cover your finances in the event of an unexpected death.
Consider the obligations and individuals you may want to take care of. Are there debts, including mortgages, that you would like to cover in case you pass away? Dependents like spouses or children who depend on your income for everyday expenses or for education? Funeral and other final expenses? And then reduce that amount by any liquid assets like cash, savings, or other investments that could be made available to loved ones immediately.
You can access the Walnut Life Insurance Calculator to help you understand how much coverage may be suitable.
For the Canadian RBC term life insurance product, the beneficiary is defaulted to the estate in order to streamline the online purchase process. You may change the beneficiary after your policy has been issued by submitting a signed Change of Beneficiary form which will be sent with your policy package in the mail.
This greatly depends on what the serious medical condition is. This should not stop you from reaching out to an insurance provider to see if you would qualify. In general, most pre-existing conditions will get a rating, making your premium higher. What is important is to get covered with insurance the sooner the better, because if you do have a medical condition this puts you at greater risk of earlier or an unexpected death.
Eligibility may vary depending on health and other factors, but yes, our platform allows you to get covered 100% digitally without ever needing to speak with an agent. Although, we are here if you need some help. Our agents aren't compensated on commission, so you know that you're getting unbiased advice.
In the event that you are having trouble with your application online, please know that we are here to help. To chat with us, you can contact us through the live support on our site or email us at firstname.lastname@example.org.