Life insurance is a way to protect your survivors and dependents against financial hardship. A life insurance policy is a legal agreement between you and an insurance company in exchange for the premiums paid by the policyholder that guarantees payment of the face value of the policy, upon death. Life insurance is a legally binding contract between the insured individual and the insurance company. Monthly or annual premiums are paid in exchange for beneficiaries to potentially receive a lump-sum payment, also known as a death benefit. The best time to get life insurance was yesterday if you have a need to protect your family. Generally, the younger and healthier you are when buying life insurance, the less expensive the premiums.
What is Term Life Insurance?
Term life insurance guarantees payment of a stated death benefit to the insured’s beneficiaries if the insured person dies during a specified term. These policies have no value other than the guaranteed death benefit and feature no savings component as is found in a whole life insurance product. PolicyMe is a Canadian digital insurance solution built to make financial protection for families simple and affordable. They make it easy to get a quote and apply for term life insurance and critical illness insurance online in 20 minutes or less.
BMO Insurance
As a subsidiary of the Bank of Montreal—one of Canada’s Big Five banks—BMO Insurance has a legacy dating back to 1817. The firm strengthened its position as one of the largest bank-owned life insurance providers in Canada after acquiring AIG’s Canadian arm in 2009. Their dedicated licensed insurance advisors are available to provide personalized assistance. Clients can be confident in their coverage, supported by a proven history of financial strength that dates back to 1817. They offer flexible coverage options, comprehensive benefits, and competitive prices.
Canada Life
In 2020, The Canada Life Assurance Company, The Great-West Life Assurance Company, London Life Insurance Company, and two holding companies amalgamated under the Canada Life brand. Established in 1847, Canada Life was the country’s first domestic life insurance provider. Today, it serves about 12 million customers, focusing on the financial, physical, and mental well-being of Canadians. There are many types of insurance, but personal insurance is a contract that provides a binding guarantee that compensation will be paid in case of an injury, illness or death.
Desjardins
Founded in 1900, Desjardins is North America’s leading financial cooperative and the financial institution with the largest presence in Quebec. It offers personal and commercial services, wealth management, life and health insurance, and property and casualty insurance, serving approximately 7.5 million members and clients.
Empire Life
Founded in 1923, The Empire Life Insurance Company, known as Empire Life, is a prominent Canadian financial services provider. It offers a diverse range of insurance products, investment solutions, and employee benefits, with a focus on integrity, personalized service, and industry-leading technology. Their mission is to make it simple, fast, and easy for clients to obtain the investment, insurance, and group benefits coverage needed to build wealth, generate income, and achieve financial security.
Equitable
Originally established as The Ontario Equitable Life and Accident Insurance Company in 1920, it was renamed The Equitable Life Insurance Company of Canada in 1936. As a mutual company, it is owned by its participating policyholders rather than public shareholders. They provide reliable, proactive and compassionate experiences.
iA Financial Group
Founded in 1892, iA Financial Group (Industry Alliance) is one of Canada’s largest insurance and wealth management firms. It operates in individual insurance, individual wealth management, group insurance, group savings and retirement, and also has operations in the United States, serving over 4 million clients.
Manulife
Founded in 1887, Manulife is a leading financial services group in Canada. It offers insurance, financial advice, and wealth and asset management solutions. Manulife serves over 30 million customers and manages $50 million in claims annually, with significant operations in Canada and Asia. The company is known for its history of innovation, including being the first in North America to insure diabetics and launching AI underwriting solutions in Canada.
RBC Insurance
Founded in 1864, the Royal Bank of Canada (RBC) is Canada’s largest bank and the country’s largest company by market capitalization. RBC Insurance, its insurance arm, serves nearly 5 million clients globally. Its term life insurance options are among the most flexible in Canada. RBC Insurance makes it easy to find expert advice, money-saving tips, and a range of insurance options for every moment of life. Conveniently access, review and manage your home, auto, life and health insurance policies anywhere, anytime.
Sun Life
Founded in 1865, Sun Life is one of Canada’s largest, oldest, and most trusted financial institutions. Initially focused on insurance sales, Sun Life has expanded into wealth solutions and health programs. It is now an industry leader, serving millions of individuals and thousands of firms in Canada, with a strong international presence in over a dozen countries worldwide. They are building sustainable, healthier communities for life and continuously seeking new and innovative ways to enhance their efforts. Their goal is to provide long-term value to clients, employees, shareholders, and communities.
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|---|---|---|---|---|---|
| Advice | InvestCAN | InvestRESP | InvestUSA | RetireCAN | RetireMGN |
| $500.00 CAD $400.00 USD | $99.99 CAD | $79.99 USD | $99.99 CAD | $17.99 CAD $12.99 USD |
