Monthly premium rates per $1,000 of coverage†

How your premiums are calculated

To calculate the monthly premium for each Insured Person, find the rate that applies to him or her in the rate table and multiply it by the average amount of coverage during the month, then divide the answer by 1,000.

Example:

For a male non-smoker1, aged 35, whose business has a loan with an average balance for the month of $47,500 with an equal amount of coverage, the premium is:
$0.12 x $47,500 ÷ 1,000 = $5.70/month plus applicable provincial sales tax.
  Male Female
Age Non-smoker1 Smoker Non-smoker1 Smoker
32 and under
0.10
0.14
0.09
0.10
33
0.12
0.15
0.09
0.10
34
0.12
0.16
0.09
0.10
35
0.12
0.17
0.09
0.10
36
0.13
0.18
0.09
0.11
37
0.13
0.19
0.09
0.12
38
0.14
0.20
0.09
0.14
39
0.15
0.22
0.10
0.17
40
0.16
0.24
0.11
0.19
41
0.17
0.27
0.12
0.22
42
0.18
0.30
0.13
0.24
43
0.20
0.33
0.14
0.26
44
0.21
0.37
0.15
0.29
45
0.23
0.40
0.16
0.31
46
0.25
0.45
0.17
0.34
47
0.28
0.49
0.18
0.36
48
0.30
0.54
0.20
0.39
49
0.33
0.60
0.21
0.43
50
0.36
0.66
0.23
0.46
51
0.40
0.73
0.25
0.50
52
0.44
0.80
0.28
0.54
53
0.48
0.88
0.30
0.58
54
0.52
0.96
0.33
0.63
55
0.57
1.05
0.36
0.68
56
0.62
1.15
0.40
0.73
57
0.68
1.26
0.44
0.79
58
0.74
1.37
0.49
0.86
59
0.81
1.48
0.54
0.93
60
0.89
1.61
0.60
1.01
61
0.97
1.74
0.67
1.09
62
1.07
1.88
0.75
1.18
63
1.18
2.02
0.83
1.27
64
1.30
2.39
0.93
1.38
65
1.43
2.55
1.04
1.49
66
1.58
2.73
1.17
1.61
67
1.74
2.90
1.31
1.74
68
1.92
3.09
1.47
1.88
69
2.12
3.27
1.65
2.04
 


† Premium rates automatically increase with the age of the Insured Person. Rates are subject to change. Provincial sales taxes are added to your premiums, if applicable.

1 To be eligible for non-smoker rates, the Insured Person must not have smoked or used any substance or product containing tobacco, nicotine or marijuana within the 12 months of the effective date of coverage. If the Insured Person told us that he/she was a smoker and it has been 12 months or more since he/she last smoked or used any substance or product containing tobacco, nicotine or marijuana, he/she can apply for non-smoker rates by completing a Business Credit Life Insurance Notification of Change Form.