Laura McKay is the co-founder and COO of PolicyMe, Canada's fastest-growing digital life insurance company. In 2021, she was named one of the Women of the Year by Bay Street Bull. Laura has a Bachelor of Mathematics from the University of Waterloo. Her degree focused on Actuarial Science, which included learning about mortality risk, the basis of life insurance pricing and valuation. After her degree, she was employed by Manulife and Munich Re in Actuarial Science. Laura then worked at famed management consulting company Oliver Wyman in New York from 2013-2018. In this position, she worked with many Fortune 500 life insurance companies and helped them develop growth strategies and solve operational problems and regulatory issues.
September 21, 2023
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7 minutes
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The biggest life insurance companies in Canada are Manulife, Canada Life, Sun Life, Desjardins and Industrial Alliance, based on the annual premiums they bring in and according to Insurance Business Magazine.1
The biggest life insurance companies in Canada
Here's the full list of the largest life insurance companies in Canada:
Manulife
Canada Life
Sun Life
Desjardins
Industrial Alliance (iA)
RBC Insurance
SSQ*
La Capitale*
BMO Life
Co-operators
Foresters
*SSQ and La Capitale merged and are now Beneva Insurance as of 2023.
These companies have a solid reputation and offer a wide range of policies to meet different needs. Let's take a look at some of the largest life insurance companies in Canada:
Manulife Financial: Manulife Financial is one of the leading life insurance providers in Canada. With a rich history dating back over 130 years, Manulife offers a diverse portfolio of products, including term life, whole life, and universal life policies. Their strong financial stability and customer-centric approach have made them a trusted choice for many Canadians.
Canada Life: Formerly known as Great-West Life, Canada Life is a major player in the Canadian life insurance industry. With a history spanning more than 170 years, Canada Life provides a comprehensive range of policies, investment products, and retirement solutions. Their strong financial performance and excellent customer service make them a reliable choice for individuals and families seeking life insurance coverage.
Sun Life Financial: Sun Life Financial is another prominent name in the Canadian life insurance market. Established in 1865, Sun Life has a wide array of insurance options, including term life, permanent life, and critical illness coverage. The company's commitment to innovation and customer satisfaction has helped them earn the trust of millions of policyholders across the country.
Desjardins: Established in 1900 in Quebec, Desjardins Group is the largest federation of credit unions in North America. It's gained recognition as one of the world's top 50 safest banks and financiers. What sets Desjardins apart is its cooperative structure, where customers hold a small unit of the company and have the opportunity to participate in decision-making processes that shape its operations.
Industrial Alliance: Industrial Alliance (iA Financial Group) is a well-established company that has been serving Canadians for over 125 years. They offer a broad range of life insurance options, including term life, universal life, and critical illness coverage. iA Financial Group is known for its competitive rates, flexible policy features, and commitment to customer satisfaction.
Here are the largest to smallest top life insurance companies in Canada:
While these are the biggest life insurance companies in Canada. It's important to research and compare various options to find the best fit for your specific needs. Remember to consider factors such as policy features, financial strength, customer reviews, and the expertise of the company's advisors when making your decision.
What is the largest life insurance company in Canada?
BMO is the largest life insurance company in Canada, with $39.2B in annual premiums and $200B in total assets as of 2022.
Some Canadians feel more comfortable going with a big bank for their life insurance, either directly or through a broker.
It's also possible to go with an online insurance solution, like PolicyMe, or an online broker like PolicyAdvisor, which both have 5-star or almost 5-star customer ratings on Reviews.io.
PolicyMe is also backed by insurance giant Canadian Premier, for an extra layer of security.
The Canadian life insurance industry
Quick facts about the Canadian insurance industry:
There are 22 million Canadians with life coverage, with $5.3T in total coverage.
Insurers paid out $14.3B in life insurance benefits: $8.8B in death benefits and $5.5B to living policyholders as dividends, cash surrenders or disability benefits.2
How many life insurance companies are there in Canada?
There are 77 life insurers in Canada as of 2022.2
There are actually 47 life insurance companies; the remaining 30 are subsidiaries and affiliates, according to the Canadian Life & Health Insurance Association's (CLHIA) 2022 report.
This number is sometimes mistakenly reported as 150; the truth is that there are over 150 life and health insurers total in Canada and 77 of them are life only.
What is the most commonly purchased life insurance product in Canada?
66 per cent of life insurance is sold through group plans; 34 per cent is sold as individual policies, according to the CLHIA.
Most Canadians have individual term life insurance coverage, meaning they buy a term life insurance policy just for themselves or their family.
Here's the breakdown of the most commonly purchased life insurance products, calculated by the value of total policies in force in Canada:
40 per cent: individual term life insurance
35 per cent: group term life insurance
13 per cent: individual universal life insurance
12 per cent: individual whole life insurance
PolicyMe sells term life insurance that's simple, affordable and reliable. Get a quick life insurance quote and then apply online in 20 minutes or less (on average, for eligible applicants).
Why should you consider coverage from a large insurance company?
Choosing the best life insurance company is crucial for your peace of mind and financial security. Here are some reasons why you might consider coverage from large insurance companies.
1. Financial stability
Large insurance companies tend to be financially stable. They have substantial resources and a diverse customer base, which lets them withstand economic fluctuations and unforeseen events. This stability means that they can meet their financial obligations, such as paying claims promptly and efficiently.
You can research financial stability by looking up Canadian life insurance companies on AM Best, the largest credit rating agency in the world that specializes in insurance.
Example: Canadian Premier was rated ‘A’ (Excellent) by credit rating agency AM Best.
2. Lots of coverage options
Large life insurance companies, such as a big bank, typically offers a wide range of coverage options to suit different needs.
This can mean larger coverage amounts, more add-ons to choose from like child coverage, or the option to bundle with related products like disability or critical illness insurance. Some companies such as Manulife offer unique products like Synergy that roll life, disability and critical illness coverage into one policy.
Big insurance companies can also serve as a one-stop shop where you can get car insurance, home insurance, or business insurance too. Think any of the big banks, or insurers like Co-operators.
3. Higher claim settlement capacity
Insurance is all about protecting yourself from potential risks. In the unfortunate event that you need to file a claim, large insurance companies are better equipped to handle it efficiently. They have dedicated claims departments with experienced professionals who can guide you through the process, ensuring a smooth and timely settlement. Additionally, their financial strength allows them to handle multiple claims simultaneously without compromising their ability to meet obligations.
Example: Canadian Premier, PolicyMe's insurance partner, has paid 99 per cent of term life claims since 2019.*
*Based on Canadian Premier Life Insurance Company’s group creditor protection line of business. As of September 13, 2021.
4. Established reputation
Large insurance companies often have a long history and established reputation within the industry. Their track record speaks volumes about their reliability and customer service. That said, you should always do your own research, read customer reviews and look up their Better Business Bureau rating.
5. Strong customer support
Dealing with insurance matters can be complex and overwhelming. Large insurance companies typically have extensive customer support infrastructure in place. This includes customer service representatives who can answer your questions, assist with policy changes, and provide guidance throughout your insurance journey. Their focus on customer support ensures that you have access to the assistance you need, enhancing your overall experience.
Yes, but: High call volumes for large companies can sometimes result in long wait times to get customer service on the phone. Take a peek at InsurEye if you want to check out customer reviews.
6. Technological advancements
Large insurance companies often invest heavily in technology to streamline their operations and enhance customer experience. They may offer online platforms or mobile apps that allow you to manage your policies conveniently, access policy information, file claims, and even receive real-time updates. Embracing technology makes it easier for you to interact with your insurance company, saving you time and effort.
Yes, but: Some companies like BMO require you to do the process over the phone with an advisor, instead of online. If you prefer that, then that works too!
Why you may want to consider a smaller life insurance company
When it comes to choosing the best life insurance, you may want to consider a smaller insurance company for a variety of reasons, such as:
1. Personalized service
Smaller Canadian life insurance companies often prioritize providing personalized service to their customers. Since they have fewer clients compared to larger companies, they can give you more individual attention. This means you may receive more tailored advice and assistance in selecting a policy that fits your specific needs and financial situation.
2. Competitive pricing
Smaller insurance companies may offer more competitive life insurance premiums compared to their larger counterparts. They often have lower overhead costs, which can result in lower life insurance costs for you. This affordability can be especially beneficial if you're on a tight budget or looking for cost-effective options.
3. Flexibility and customization
Smaller life insurance companies may be more flexible when it comes to policy customization. They are often open to adapting their coverage options to accommodate unique circumstances or specific requirements. This flexibility can be advantageous if you have specific preferences or need a policy tailored to your individual circumstances.
4. Ease of communication
Dealing with a smaller insurance company can make communication easier and more straightforward. Since they have fewer customers, you may find it easier to reach a representative when you have questions or need assistance. This direct line of communication can enhance your overall experience and provide a greater sense of accessibility.
5. Niche expertise
Some smaller Canadian life insurance companies specialize in serving niche markets or specific demographics. For example, they may focus on providing coverage for individuals with unique health conditions or those in high-risk professions. If you fall into one of these categories, a smaller company with niche expertise may better understand your circumstances and offer more tailored coverage options.
Before making a decision, evaluate your needs and preferences to determine if a smaller insurer aligns with your goals and provides the coverage and service you require.
Why consider PolicyMe?
5 to 10 per cent more affordable life insurance premiums than comparable term life policies
10 per cent couples discount in the first year
$10,000 in free child coverage, for each child
Most eligible applicants can apply online in 20 minutes or less
Non-commissioned advisors available for advice
Claims process includes a personal concierge
What if your insurance company goes out of business?
In Canada, the insurance industry is closely regulated to ensure consumer protection. If an insurance company faces financial difficulties and is unable to meet its obligations, there are safeguards in place to help policyholders like you.
Assuris Coverage: Assuris is a not-for-profit organization that provides additional protection to policyholders when their insurance company fails. Assuris protects the policyholders' benefits, including death benefits, disability benefits, and certain annuity benefits. Their coverage applies to a wide range of life insurance policies, segregated funds, and annuities. The coverage provided by Assuris helps ensure that policyholders continue to receive the benefits they are entitled to, even if their insurance company goes out of business.
Seek Legal Advice: If your insurance company goes out of business, and you have concerns about the handling of claims or the protection of your rights, it may be advisable to seek legal advice. A lawyer specializing in insurance matters can help you understand your options and rights, and guide you through any potential legal proceedings.
To protect yourself proactively:
Research Insurance Companies: Before purchasing insurance, it's essential to research and choose a reputable Canadian insurance company. Look for well-established insurers with a solid financial track record and positive customer reviews. This reduces the risk of dealing with a financially unstable company.
Review Insurance Policies Regularly: Stay vigilant by reviewing your insurance policies periodically. Ensure that the coverage is still suitable for your needs and that the insurer remains financially stable. If you have any concerns or questions, reach out to your insurance agent or company directly for clarification.
What life insurance company offers the biggest payout option?
Sun Life has one of the biggest payout options in Canada. Their SunTerm and SunSpectrum Term policies offer coverage up to $25M, and their permanent life insurance policies can also go up to $25M if you apply with an advisor (not available online).
List of Canadian life insurance companies
Here's a complete list3 of all major life insurance companies in Canada:
Acadia Life
Aetna Life Insurance Company
Allianz Life Insurance Company of North America
Allstate Life Insurance Company of Canada
American Bankers Life Assurance Company of Florida
* Great-West Life and London Life merged with Canada Life in 2019 to form The Canada Life Assurance Company.
** Standard Life Assurance Company became part of Manulife in 2015. CAA Life Insurance is underwritten by Manulife.
List of the biggest life insurance companies in Canada with detail
Acadia Life
Established in 1869, offering life insurance and annuity products.
Known for its financial stability and strong customer service.
Offers a range of customizable life insurance policies to meet individual needs.
Aetna Life Insurance Company
A leading provider of health and life insurance in the United States.
Known for its diverse range of insurance products and services.
Offers comprehensive life insurance solutions with flexible coverage options.
Allianz Life Insurance Company of North America
A global insurance company with a strong presence in North America.
Known for its innovative life insurance products and investment solutions.
Offers a wide range of retirement and protection products to meet customers' financial goals.
Allstate Life Insurance Company of Canada
A subsidiary of Allstate Insurance Company, one of the largest insurers in North America.
Known for its reliable life insurance products and excellent customer service.
Offers customizable life insurance policies to provide financial protection for individuals and families.
American Bankers Life Assurance Company of Florida
Specializes in providing insurance products and services for banks and financial institutions.
Known for its expertise in creditor insurance and debt protection solutions.
Offers life insurance products tailored to meet the unique needs of banks and their customers.
American Health and Life Insurance Company
Provides a range of health and life insurance solutions.
Known for its competitive rates and efficient claims processing.
Offers individual and group life insurance options with flexible coverage and benefit choices.
American Income Life Insurance Company
Founded in 1951, primarily serving labor unions, credit unions, and associations.
Known for its commitment to protecting working families with affordable life insurance.
Offers a range of life insurance products with additional benefits and riders.
Assumption Life
A Canadian-based insurance company with a history dating back to 1903.
Known for its bilingual services and community involvement.
Offers a variety of life insurance products, including permanent life insurance and term coverage options.
AWP Health & Life SA
An international insurance company specializing in health and life insurance.
Known for its global coverage and assistance services.
Offers a range of life insurance plans with international benefits and support.
Beneva (formerly SSQ and La Capitale)
A Canadian financial services provider offering a wide range of financial products.
Known for its cooperative business model and customer-focused approach.
Offers comprehensive life insurance solutions with flexible options and additional benefits.
Blue Cross Life Insurance Company of Canada
A leading provider of health and travel insurance plans in Canada.
Known for its expertise in health-related insurance products and services.
Offers life insurance policies with a focus on providing financial protection for individuals and families.
BMO Life Insurance Company
A subsidiary of the Bank of Montreal (BMO), one of the largest banks in Canada.
Known for its financial strength and stability.
Offers a range of life insurance products, including term, whole life, and universal life insurance.
Brookfield Annuity Company
An insurance company specializing in annuity products.
Known for its expertise in providing retirement income solutions.
Offers annuities that provide guaranteed income for individuals during their retirement years.
Canada Life Assurance Company
One of Canada's oldest and largest life insurance companies, established in 1847.
Known for its strong financial ratings and stability.
Offers a wide range of life insurance products, including term, whole life, and universal life insurance.
Canada Protection Plan
Specializes in simplified issue and no-medical-exam life insurance policies.
Known for its quick and easy application process.
Offers affordable life insurance coverage with simplified underwriting requirements.
Canadian Imperial Bank of Commerce (CIBC)
One of Canada's major banks offering a range of financial services, including life insurance.
Known for its trusted brand and extensive branch network.
Offers life insurance products as part of its comprehensive financial solutions for individuals and families.
Known for its guaranteed issue life insurance product.
Canadian Premier Life Insurance Company
Offers a variety of life insurance products tailored to Canadian residents.
Known for its competitive rates and flexible coverage options.
Provides comprehensive life insurance solutions with additional benefits and riders.
Canadian Tire Bank
A subsidiary of Canadian Tire Corporation, a well-known retail company in Canada.
Known for its loyalty and rewards programs.
Offers life insurance products as part of its financial services portfolio.
Canassurance Insurance Company
A Canadian insurance company offering various insurance products including car insurance.
Known for its commitment to customer service and personalized solutions.
Offers life insurance coverage with flexible options and tailored benefits.
Chubb Life Insurance Company of Canada:
A subsidiary of Chubb Limited, a global insurance company.
Known for its expertise in providing high-net-worth individuals with customized insurance solutions.
Offers life insurance products with comprehensive coverage and personalized service.
CIGNA Life Insurance Company of Canada
Part of Cigna Corporation, a global health services organization.
Known for its expertise in health and wellness solutions.
Offers life insurance products with a focus on integrating health and lifestyle benefits.
Combined Insurance Company of America
A leading provider of supplemental insurance products.
Known for its accident, critical illness, and disability insurance coverage.
Offers life insurance products that complement its supplemental insurance offerings.
CompCorp Life Insurance Company
A Canadian insurance company offering various life insurance products.
Known for its competitive rates and customer-focused approach.
Provides comprehensive life insurance coverage with flexible options.
Connecticut General Life Insurance Company
Also known as CGLIC, it is a subsidiary of Cigna Corporation.
Known for its expertise in providing group life insurance solutions.
Offers group life insurance products with customizable features and benefits.
Co-operators Life Insurance Company
Part of The Co-operators Group Limited, a Canadian insurance and financial services co-operative.
Known for its commitment to sustainability and social responsibility.
Wide variety of products on offer, including auto insurance.
Offers life insurance products with a focus on serving co-operative and credit union members.
Cover Direct Insurance Agency
An online insurance agency offering various life insurance options.
Known for its user-friendly digital platform and simplified application process.
Provides affordable life insurance coverage with instant quotes and convenient online purchasing.
Desjardins Financial Security Life Assurance Company
A subsidiary of Desjardins Group, one of the largest cooperative financial groups in Canada.
Known for its comprehensive life insurance and wealth management solutions.
Offers a wide range of life insurance products, including term, whole life, and universal life insurance.
Empire Life Insurance Company
Established in 1923, one of Canada's oldest life insurance companies.
Known for its financial strength and stability.
Offers a variety of life insurance products, including term, whole life, and critical illness insurance.
Equitable Financial Life Insurance Company of Canada
A Canadian-based life insurance company with a history dating back to 1920.
Known for its focus on individual life insurance and wealth accumulation products.
Offers innovative life insurance solutions, such as participating whole life and universal life insurance.
First Canadian Insurance Corporation
A Canadian insurance company offering a wide range of insurance products, including life insurance.
Known for its competitive rates and customer-centric approach.
Provides customizable life insurance coverage with options for individuals and families.
Foresters Life Insurance Company
A fraternal benefit society operating in Canada, the United States, and the United Kingdom.
Known for its commitment to the well-being of its members and communities.
Offers life insurance products with unique member benefits and a focus on social responsibility.
Green Shield Canada
A leading provider of health and dental insurance plans in Canada.
Known for its innovative approach to health and wellness solutions.
Offers life insurance products that integrate health and lifestyle benefits for comprehensive coverage.
Humania Assurance Inc.
A Canadian insurance company with a focus on health and life insurance.
Known for its simplified underwriting process and quick policy issuance.
Offers a range of life insurance products, including term, whole life, and critical illness insurance.
Industrial Alliance Insurance and Financial Services Inc.
One of the largest insurance and wealth management groups in Canada.
Known for its diverse range of financial products and services.
Offers comprehensive life insurance solutions, including term, whole life, and universal life insurance.
Ivari
Formerly known as Transamerica Life Canada, a subsidiary of Ivari Canada Holdings Inc.
Known for its expertise in individual life insurance and wealth accumulation solutions.
Offers a variety of life insurance products, including term, whole life, and universal life insurance, with flexible options and additional benefits.
Jackson National Life Insurance Company
A leading provider of annuities and life insurance in the United States.
Known for its strong financial ratings and stability.
Offers a range of life insurance products, including term, whole life, and universal life insurance, with a focus on retirement planning.
Life Insurance Company of North America
A subsidiary of Cigna Corporation, a global health services organization.
Known for its expertise in providing group life insurance solutions.
Offers group life insurance products with flexible coverage options and value-added services.
LS-Travel Insurance Company
A Canadian insurance company specializing in travel insurance.
Known for its comprehensive coverage and assistance services for travelers.
Offers travel insurance products that include emergency medical coverage, trip cancellation/interruption, and baggage protection.
The Manufacturers Life Insurance Company (Manulife)
One of the largest insurance and financial services providers in Canada.
Known for its strong brand recognition and global presence.
Offers a wide range of life insurance products, including term, whole life, and universal life insurance, with extensive investment options.
Manulife Assurance Company of Canada
A subsidiary of Manulife Financial Corporation, offering a variety of insurance and financial products.
Known for its financial strength and customer-centric approach.
Offers individual life insurance products with flexible options and additional benefits, such as critical illness and disability insurance.
MD Life Insurance Company
Specializes in providing insurance solutions to physicians and their families in Canada.
Known for its understanding of the unique needs and challenges of medical professionals.
Offers tailored life insurance products and financial services for physicians.
Medavie Inc.
A Canadian health services organization providing health and life insurance solutions.
Known for its integrated approach to health and wellness.
Offers life insurance products with a focus on integrating health and lifestyle benefits for comprehensive coverage.
Metropolitan Life Insurance Company (MetLife)
One of the largest life insurance companies in the United States.
Known for its strong brand recognition and diverse range of insurance and financial products.
Offers a variety of life insurance solutions, including term, whole life, and universal life insurance, with options for individuals, families, and businesses.
National Bank Life Insurance Company
A subsidiary of National Bank of Canada, one of the largest banks in the country.
Known for its financial strength and stability.
Offers a range of life insurance products, including term life insurance, whole life, and universal life insurance, with a focus on serving National Bank customers.
New York Life Insurance Company
One of the largest and oldest mutual life insurance companies in the United States.
Known for its long history of financial strength and commitment to policyholders.
Offers a wide range of life insurance products, including term, whole life, and variable universal life insurance, with a focus on providing comprehensive coverage and financial protection.
Pavonia Life Insurance Company of Michigan
A subsidiary of Nassau Financial Group, an insurance and financial services organization.
Known for its expertise in providing life insurance solutions to individuals and businesses.
Offers a variety of life insurance products, including term life insurance, whole life, and universal life insurance, with a focus on customized coverage options.
PBC Health Benefits Society o/a Pacific Blue Cross
A not-for-profit health benefits provider in British Columbia, Canada.
Known for its comprehensive health and dental insurance plans.
Offers life insurance products as part of its broader health benefits offerings, providing financial protection for individuals and families.
PolicyMe Inc.
A digital life insurance platform based in Canada.
Known for its user-friendly online application process and simplified underwriting, it is the best life insurance company for low cost premiums.
Offers term life insurance products with competitive rates and a streamlined purchasing experience.
Primerica Life Insurance Company of Canada
A subsidiary of Primerica, a leading financial services company.
Known for its focus on middle-income families and providing affordable life insurance solutions.
Offers term life insurance products with a simplified underwriting process and a wide range of coverage options.
RBC Life Insurance
A subsidiary of Royal Bank of Canada (RBC), one of the largest banks in Canada.
Known for its financial strength, extensive banking network and wealth management services.
Offers a range of life insurance products, including term life insurance, whole life, and universal life insurance, with a focus on integrating insurance solutions with RBC's broader financial services.
Reliable Life Insurance Company
Established in 1887, Reliable Life is a Canadian life insurance company.
Known for its long-standing presence and experience in the insurance industry.
Offers a range of life insurance products, including term life insurance and simplified issue plans, with a focus on providing reliable and affordable coverage.
Scotia Life Insurance Company
A subsidiary of Scotiabank, one of Canada's largest banks.
Known for its financial strength and stability.
Offers a variety of life insurance products, including term life insurance, whole life, and universal life insurance, with a focus on meeting the financial protection needs of Scotiabank customers.
Serenia Life Financial (formerly FaithLife Financial):
A Canadian fraternal benefit society providing insurance and financial services.
Known for its values-based approach and commitment to its members.
Offers life insurance products with unique member benefits and a focus on community support and charitable giving.
Sun Life Insurance (Canada) Limited
One of the largest life insurance companies in Canada.
Known for its global presence and extensive range of insurance and investment solutions.
Offers a comprehensive portfolio of life insurance products, including term, whole life, and universal life insurance, with a focus on financial planning and wealth accumulation.
Offers one of the best whole life insurance products for cash value in Canada.
TD Life Insurance Company
A subsidiary of TD Bank Group, one of the largest banks in Canada.
Known for its customer-centric approach and strong brand reputation.
Offers a range of life insurance products, including term, whole life, and critical illness insurance, with a focus on providing personalized solutions to TD Bank customers.
Trans Global Life Insurance Company
A multinational life insurance company operating in various countries.
Known for its diverse range of insurance products and international coverage options.
Offers life insurance products tailored to the needs of individuals and families living abroad or seeking global coverage.
TruStage Life of Canada
A subsidiary of CUNA Mutual Group, a leading provider of financial services to credit unions.
Known for its expertise in serving credit union members and their families.
Offers life insurance products with simplified underwriting and competitive rates through credit unions in Canada.
The Union Life, Mutual Assurance Company (UV Insurance)
A Canadian mutual life insurance company with a focus on individual and group insurance.
Known for its commitment to customer satisfaction and personalized service.
Offers life insurance products that can be tailored to meet the unique needs of individuals, families, and businesses.
Union of Canada Life Insurance
A Canadian life insurance company with a long history dating back to 1869.
Known for its strong financial position and customer-centric approach.
Offers a range of life insurance products, including term, whole life, and universal life insurance, with a focus on providing reliable protection and financial security.
United American Insurance Company
A U.S.-based insurance company offering life insurance and supplemental health coverage.
Known for its specialized products and focus on specific markets, such as senior citizens and individuals with specific health conditions.
Offers life insurance products designed to meet the unique needs of its target customer segments.
Viaction Insurance Inc.
A Canadian life insurance company specializing in viatical settlements.
Known for its expertise in purchasing life insurance policies from individuals who are terminally ill or have a shortened life expectancy.
Offers financial solutions through viatical settlements, providing individuals with immediate cash for their life insurance policies.
Wawanesa Life Insurance Company
A subsidiary of The Wawanesa Mutual Insurance Company, one of the largest property and casualty insurers in Canada.
Known for its financial strength and long history of serving customers' insurance needs.
Offers a variety of life insurance products, including term, whole life, and universal life insurance, with a focus on providing flexible coverage options and exceptional customer service.
FAQ: Biggest life insurance companies in Canada
What is the oldest life insurance company in Canada?
Canada Life is the oldest life insurance company in Canada. Nearly 200 years of experience exist between the three companies that make up today's organization: The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company.
Want to learn more about other life insurance options? Here are more reviews of Canadian life insurance companies:
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