Co-operators Life Insurance Review (2025 Update)

Co-operators life insurance review (2025 update) 

Co-operators is a Canadian company that provides a variety of insurance and investment products to individuals and groups, including home insurance, renters, and auto insurance. They’re owned by a mix of member organizations, including credit unions and farm groups, with support from nearly 7,000 employees and a network of over 2,800 licensed insurance representatives across the country.

‍Co-Operators quick facts

Co-operators is industry-known for its long-standing community roots and impressive financial stability. This is a member-owned company, profits are reinvested into the company to fund their local programs, sustainability initiatives, and more.

They land right on-average for pricing and they have a large network of local customer service representatives across the nation to help you understand your insurance coverage options. 

However, Co-operators’ limits on amount of coverage are on the low side compared to other Canadian life insurance companies, and their online resources provide minimal information, which can make it difficult for buyers to make a quick decision. 

Co-operators life insurance ★★★★★ (4.5)

^{* This figure reflects the typical costs for a non-smoking woman between the ages of 30-44 across a term length of 10-30 years for $500,000 in coverage.}

The good

Co-operators offers life insurance to policyholders across Canada, with options for term life (including terms as short as one year), permanent life insurance, and no-medical final expense coverage. Its one-year term life policies also allow applicants to get a quote, apply, and buy online for faster coverage.

The downsides

Co-operators provides limited plan details online, which may make it harder for some shoppers to compare coverage options upfront. Its term life policies also tend to offer lower maximum coverage amounts than some competing providers.

Methodology

PolicyMe’s rankings are based on an independent, data-driven review of Canada’s best life insurance products and providers. 

Our analysis combines 450,000+ quotes for 50+ life insurance products with in-depth research on 20+ providers. We assigned each product a star rating out of five based on a mix of average pricing, Google Review scores, and shopping convenience, then ranked the results in 12 categories.

Rankings are determined first by star rating and then by price, with preference given to expert recommendations by PolicyMe’s team of life insurance advisors. Our findings are entirely data-driven and do not include paid placements, but should not be considered a substitute for personalized financial advice.

Co-operators life insurance pros and cons

Like most companies in the insurance industry, Co-operators have a fair share of great and not-so-great features. Here’s the breakdown:

Co-operators life insurance pros 

Co-operators life insurance cons 

Co-operators life insurance cost and value 

The cost of Co-operators Versatile Term life insurance ranges from 6 below to 3% above industry average, depending on your age and sex at birth. See below for a comparison between starting costs for Co-operators and PolicyMe for 20-year term policies for $500,000 in coverage for applicants of different ages.

^{* These figures reflect the average monthly cost for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years.}

^{** Compared to the average monthly costs for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years and 26 term life insurance products.}

Insurance rates for smokers are very competitive at Co-operators, ranging from exactly average to 6% below industry average.

^{* These figures reflect the average monthly cost for healthy, smoking individuals across a term length of 10-30 years.}

^{** Compared to the average monthly costs for $500,000 of coverage for non-smoking individuals across a term length of 10-30 years and 26 term life insurance products.}

About pricing comparisons

To ensure fairness and accuracy, all pricing comparisons were made within identical product types and demographic segments. For instance, a 10-year term policy for non-smoking women aged 18-29 with $500,000 in coverage was compared to the average pricing for all other 10-year term policies meeting the same criteria.

Co-operators life insurance reviews and customer service 

Co-operators (aka CUMIS in Canada) has a 2.9-star rating on Google — not good enough to earn a “Great Customer Service” badge.

However, this company does have an A- rating from the Better Business Bureau. Trustpilot, Reddit, and InsurEye show some mixed customer reviews that lean positive.

Co-operators life insurance products at a glance

Co-operators offers a mix of term life insurance and permanent life insurance plans, which can be paired with riders and add-ons for customized protection. They also provide mortgage insurance and critical illness coverage.

Here’s an overview of their term life products:

Co-operators life insurance riders

• Disability insurance: Pays a temporary sum to replace lost income if you become disabled.
• Critical illness insurance: Receive a lump-sum payout if you are diagnosed with a critical illness while you’re alive.
• Accidental injury hospital cash plan: Receive a daily cash benefit for every day you’re hospitalized to help cover costs (parking, meals, etc.)
• Accidental death insurance: Beneficiaries receive an additional death benefit if you pass away from accidental causes as covered by your policy.
• Versatile term riders: You can add a Versatile Term rider to a permanent product through Co-operators. 

How Co-operators compares to other providers

Here’s an overview of how Co-operator compares to some of Canada’s top life insurance providers across common company features.

^{* These figures reflect the average monthly cost for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years.}

Co-operators life insurance vs. PolicyMe life insurance

Although they both rank well for affordability, PolicyMe offers slightly more affordable term life insurance rates than Cooperators, depending on term length and individual factors.

Cost

Both providers offer life insurance at below industry average costs. While Co-operators and PolicyMe offer competitive rates for smokers, PolicyMe wins out in this category when it comes to optimizing personal finance.

Customer Satisfaction

PolicyMe earns far better ratings online from real policyholders, with a 5-star rating on Google. On the other hand, Co-operators shows up in mixed reviews on Reddit and on InsurEye. It earns a 2.9-star rating on Google.

Convenience

PolicyMe wins out here. You can get a quote and buy your policy completely online. You can even manage your policy online. With Co-operators, you can view the price of a custom policy but you have to speak with an advisor to actually purchase coverage. 

The bottom line: Who should consider Co-operators insurance?

Co-operators is a good option for people who value affordability and a permanent life insurance option. This company offers customizable options with a good selection of riders which should satisfy most Canadians. 

However, customer reviews indicate Co-operators may not deliver the best customer experience in the industry. Keep in mind that you’ll have to speak directly to an advisor to buy a policy.

FAQs: Co-operators life insurance review

^{*** The life insurance premium rates in this article are based on publicly available figures as of December 2025.}

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