Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Runner-up for no medical
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for universal life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for decreasing term coverage
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best life insurance for the self-employed
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Blue Cross is a great option if you want both life and disability insurance under one policy: their tangible hybrid plan. Health insurance is their specialty, though; not life insurance.
Pros and Cons
Pros
Get up to $1M in coverage, plus the plan converts to a permanent one at age 56.
Option to add riders like health, dental and disability to your life insurance policy.
Cons
The only term lengths available are 10, 20 or 25 years.
Whole life insurance coverage only available up to $500,000 for ages 18 to 70.
No standalone critical illness insurance, it must be added as a rider to your life insurance policy.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for cancer survivors
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for credit union members
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
With preferred rates for eligible Canadians, CUMIS life insurance could be a good choice if you're a credit union member, but there are better options otherwise.
Pros and Cons
Pros
Variety of add-ons and riders available (for an extra fee).
Large variety of policy types from term, to whole, to universal, and children's coverage.
Cons
Only available through credit unions and cooperatives.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for participating life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for seniors and no medical life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Top pick for seniors, especially for those with health issues that would get them declined or charged sky-high rates elsewhere. Most plans let you skip medical exam.
Pros and Cons
Pros
No health exam for simplified issue & guaranteed acceptance plans.
Known for fast processing times, some get approved within 24 hours.
Established player in the no medical life insurance space.
Cons
More expensive than traditional term life insurance.
Some plans are deferred by 2 years, meaning no death benefit if you pass before then.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for short-term life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for whole life insurance for children
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Desjardins offers one of the most affordable whole life policies for kids. Unique offering of 5 Pay which is the ability to pay the policy in full within 5 years.
Pros and Cons
Pros
Number of riders like children’s accidental fracture and guaranteed insurability.
Strong brick-and-mortar presence in Ontario and Quebec.
Cash value options available, with a dividend scale of 6.2%.
Cons
Presence outside of Ontario and Quebec is limited.
Children’s Life Protection policy can be converted to permanent, but coverage only goes to $20K.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best life insurance for smokers
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for wealth transfer to children
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Runner up for life insurance for children
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best life/disability insurance for the hard-to-insure
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Humania's Insurance Without Medical Exam asks only 6 questions and is issued immediately. Get disability & critical illness insurance with no extra questions.
Pros and Cons
Pros
Insurance Without Medical exam includes life, critical illness, and disability insurance.
Get $5K-$300K in coverage.
Cons
Will not pay out death benefit for a pre-existing condition for 1-2 years (depends on the policy)
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for business owners life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for permanent life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for parents & homeowners
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Runner-up for best term life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for existing customers
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for whole life insurance with cash value
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Policies are pricier, but Sun Life has the highest dividend scale for whole life insurance in Canada. Good option for high-net-worth individuals and has perks like succession planning.
Pros and Cons
Pros
Very experienced advisors, some with 30+ years of experience.
Range of options for cash value life insurance.
Single & joint policies available.
Cons
Premiums are higher than competitors
Funds are expensive and investment options limited to their available funds.
Check their MERs (management fees) against other companies.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Best for simplified & guaranteed issue life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Known for its variety of no medical, simplified issue and guaranteed accepted life insurance products. But make sure to compare premiums with other no medical providers.
Pros and Cons
Pros
Multi-contract discount, refunds up to $100 if a referral buys UV within 1 year.
No health exam needed for up to $500,000 in term & $150,000 in permanent coverage.
Cons
Only available in Quebec, Ontario and New Brunswick
Prices for their simplified whole life policies look higher than CPP and Beneva.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Second runner-up for best term life
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
Rated between 1-5 stars for cost, trustworthiness, policy options, customer reviews, and financial stability. Pulling from sources including but not limited to AM Best, Better Business Bureau, Fitch Ratings, InsurEye, TrustPilot, Google Reviews, etc.
Runner-up for smokers life insurance
Cost
Based on monthly premiums, pulling from publicly available rates. $ - most affordable rates $$ - average rates $$$ - most expensive rates
Rated between $, $$, $$$ in relation to comparable life insurance products on the market in Canada. Based on publicly available rates pulled from WinQuote and other external sources.
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.
March 28, 2024
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6 minutes
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PolicyMe content follows strict guidelines for editorial accuracy and integrity. Learn more about our editorial guidelines.
Funeral insurance is a life insurance policy intended to cover funeral costs, the memorial service and end-of-life expenses.
Funeral insurance is a type of permanent life insurance policy that lasts for the entire duration of your life.
It can also be called burial insurance, final expense insurance, funeral expense insurance, guaranteed issue life insurance or simplified issue life insurance.
What is funeral insurance?
Funeral insurance is a type of life insurance policy that helps your loved ones when it comes to covering your funeral expenses. It is a permanent kind of coverage, so in essence, it sticks around as long as you do (as long as you keep up with the monthly premiums) and pays out a lump sum when the policy older passes away.
Generally, funeral insurance is not meant for folks raising families that need coverage for big financial obligations like mortgages, childcare, tuition and income replacement during their working years.
This is because funeral insurance is focused on one thing: making sure your final expenses are taken care of.
So then what is funeral insurance used for?
Funeral insurance is intended to save your loved ones from the stress of footing the bill for your final farewell. It's like a safety net specifically designed to cover those final expenses that come with such a difficult time.
The big drawback? Funeral insurance premiums are more costly than traditional life insurance policies. If you don't pass within a specific time period, you'll end up paying way more in monthly premiums than what your lump sum payout would be.
You should only buy funeral insurance as a final resort because, while it doesn't require a medical exam, it has lower-than-average payout amounts with costly premiums. Funeral or burial insurance may be a viable choice if you:
have already been denied traditional coverage (term life insurance or whole life insurance);
have poor health, for example: cancer, heart disease, chronic illness;
are over 70 years old;
unfortunately, expect to pass within a short time frame.
Otherwise, it makes sense to try term life insurance or whole life insurance first. If you're approved, you'll likely save money and get your beneficiaries a bigger lump sum payout.
Not sure what type of coverage you need? Our non-commissioned advisors can give you pointers on getting the most coverage for the least cost; the kind of genuine advice we'd give our friends!
Funeral insurance vs life insurance
Let's get into a breakdown of the differences between funeral insurance and life insurance:
Funeral insurance:
Covers specific end-of-life expenses like funeral costs and other final arrangements.
Takes care of things like caskets, services, and burial/cremation costs.
Relieves your loved ones from the financial burden of your farewell.
Life insurance:
Provides broader financial protection for your loved ones.
Payout can be used for anything your family needs, like your mortgage or childcare.
Designed for dependents and significant financial responsibilities (couples, families).
Funeral insurance is all about easing the financial burden of just your funeral expenses, while life insurance has a broader scope, protecting your family in various ways.
Can life insurance cover your funeral expenses?
Life insurance can cover your funeral expenses and anything else your family needs if you pass away. Why? The death benefit amount for traditional life insurance is much higher than funeral insurance.
Most life insurance companies offer policies with a death benefit of up to $5M (but there are companies that offer even more). The average cost of a funeral sits at around $10,000.
That leaves your loved ones with a large amount of money to handle such a difficult time, using the remainder of the tax free payout to do things like:
See how affordable term coverage can be in a few clicks. Max out your family's payout with budget-friendly premiums.
What does funeral insurance cover?
Funeral insurance has some specific uses, helping your family cover end-of-life related costs, like:
The funeral cost
Burial, embalming or cremation costs
Memorial or graveside services
Funeral director fees
Miscellaneous expenses such as flowers, tributes, transportation, etc.
Pros and cons of funeral insurance
The 2 main types of funeral insurance in Canada
1. Simplified issue life insurance
A straightforward kind of coverage that skips the medical exams. You'll need to answer health-related questions to determine eligibility. If you have very serious pre-existing conditions or need higher coverage, other options may be better.
Simplified issue life insurance best suited for:
Someone willing to pay much more in insurance premiums to forgo a medical test
Someone recently declined by a traditional life insurance provider
2. Guaranteed issue life insurance
A type of coverage that is designed to approve almost everyone that applies. Guaranteed issue is for those with health issues that make it challenging to qualify for other types of life insurance and have been denied both traditional and simplified issue coverage.
There are no medical exams or health questions for guaranteed issue policies.
Guaranteed issue life insurance is best suited for:
Funeral insurance would cost around $52.72 for a woman and $70.94 per month for a man, both aged 40 for $25,000 in coverage. These are funeral insurance rates from Canada Protection Plan (one of the leading providers of guaranteed issue life insurance).
Let's look at the cost of a term life insurance policy to compare:
$16.19 per month for a woman
$21.21 per month for a man
These term life insurance quotes are from PolicyMe for the lowest available coverage amount ($100,000) over 30 years. Broadly, funeral insurance can cost more than 3x term insurance for a death benefit that's 4x less in coverage.
What is the typical funeral insurance payout amount?
The typical funeral insurance payout amount ranges from $5,000 to $50,000. However, that maximum death benefit is rarely offered. You'll generally see funeral insurance policies capped at $25,000.
Does the Canadian Government help with funeral costs?
The Government of Canada doesn't offer a one-size-fits-all solution for funeral costs. But there are a couple of options to explore:
1. Canada Pension Plan
You're eligible for a death benefit of $2,500 if you contributed to the Canada Pension Plan (CPP) for at least: "one-third of the calendar years in their contributory period for the base CPP, but no less than 3 calendar years, or 10 calendar years" says the Government of Canada.
This may also be available provincially, but please verify with your local government's documentation.
2. Veterans' benefits
If you've previously served in the Canadian military, there are final expense insurance options available to assist with funeral expenses, burial costs and a military gravestone.
Indigenous communities often have their own unique programs to help with funeral costs. The Estate services for First Nations division of the Government of Canada offer support for the funeral if the Indigenous family cannot afford it.
The coverage and eligibility for the Government of Canada's funeral coverage can vary, so it's essential to do your research.
Best life insurance companies for funeral insurance
Here's a look at the top three funeral insurance companies in Canada. We'll be looking at providers of guaranteed acceptance life insurance policies, which is a type of funeral insurance policy.
Canada Protection Plan Guaranteed Acceptance Life
About the policy:
Coverage amounts up to $50,000.
Beneficiaries get a refund on premiums plus three per cent interest if you pass within two years.
Best suited for: Seniors and people with pre-existing conditions. Some of the best prices for guaranteed life in Canada.
Empire Life Guaranteed Life Protect
About the policy:
You can borrow cash from your policy after the fifth year.
Smokers get a better rate than they would elsewhere on the market.
Many optional riders you can add to the policy (accidental death, critical illness, child rider, etc.).
More strict coverage limits than competitors, especially for the "express issue" option.
Best suited for: Someone that wants a lot of add-ons for their policy.
Next steps: Funeral insurance in Canada
Apply for a traditional insurance policy first, like term life insurance, to maximize your coverage while paying some of the lowest premiums on the market. This blog on the best life insurance Canada has to offer is a good place to start.
If you're denied a term life insurance policy after applying with a few companies, go for simplified issue life insurance coverage.
As a last resort, apply for a guaranteed acceptance policy so your family can cover funeral expenses providing them a peace of mind for costs related to the funeral service.
FAQ: Final expense insurance
What are end of life expenses?
End of life expenses are the costs associated with a person's final arrangements and passing. These expenses include funeral service or memorial services, burial expenses, cremation costs or burial costs, transportation of the body, caskets or urns, cemetery plots, headstones and any administrative fees.
End-of-life expenses can vary widely depending on preferences, cultural traditions and location. Understanding these costs can help you plan ahead and consider options like life insurance to ease the financial burden on loved ones and give them a peace of mind.
Do you need to do a medical exam for funeral insurance plans?
You generally do not need to do a medical exam to qualify for funeral insurance plans. In fact, there are some funeral insurance plans that don't even require a medical questionnaire (guaranteed acceptance insurance). That said, different insurance companies may have different policies on the matter.
Before purchasing funeral insurance, you can check in with an advisor to make sure you understand the medical requirements for your policy. Most of these coverage options are considered permanent life insurance, but there are term options as well.
Is a final expense insurance policy the same as a funeral insurance policy?
Final expense insurance and funeral insurance aim to cover end-of-life costs. But final expense insurance is a broader term for policies that cover final expenses beyond the funeral, like medical bills. Funeral insurance focuses on funeral-related expenses like caskets, services and burial costs/cremation costs.
Sometimes life insurance companies use these terms interchangeably, as with the terms "burial insurance policy" and "funeral expense insurance", too. To ensure you've got the insurance coverage you need, check your policy's payout terms before signing on.
What type of funeral insurance is halal?
When it comes to funeral insurance permissible in Islam, the kind that's generally accepted is known as "Takaful." This is a form of Sharia-compliant insurance that complies with Islamic principles, emphasizing mutual support and community assistance.
To break this down: In Takaful insurance, instead of paying premiums like traditional insurance, participants contribute to a shared fund. If someone from this group incurs expenses (like funeral costs), these are covered from this communal pool. Any leftover funds after meeting all claims and costs are then given back to the participants.
However, it's important to remember that interpretations of insurance can vary among different scholars and communities in Islam. So, if you're uncertain, it's always a good idea to seek advice from someone knowledgeable in your community or religious authority.
Laura McKay
COO & Co-Founder
About the Author
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.
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