Compare the best life insurance in Canada (2024)

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All categories /
For estate planning

★★★☆☆ (3/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Most policies up to $999,999
  • 10-35 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For estate planning

★★★☆☆ (3/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $10M
  • 10, 15, 20, 25, 30 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For parents and homeowners

★★★★☆ (4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $10M
  • 10, 15, 20, 25, 30, 35, or 40 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For business owners

★★★★☆ (4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $5M
  • 10, 20 or 25 years

Max issue age

  • Up to 56 years old
Check Your Price
All categories /
For pre-existing conditions

★★★★☆ (4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $5M
  • 10, 20 or 100 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
Other

★★☆☆☆ (2.4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $10M
  • 15-30 years

Max issue age

  • Some policies up to age 85
Check Your Price
All categories /
For estate planning

★★☆☆☆ (2/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $10M
  • 5-50 year terms

Max issue age

  • Up to 75 for some policies
Check Your Price
All categories /
For seniors

★★★☆☆ (3/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $1M
  • 10, 20, 25, 30 years

Max issue age

  • Up to 80 years old
Check Your Price
All categories /
For short-term needs

★★☆☆☆ (2/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $475K
  • 10, 15, 20, 30 years

Max issue age

  • Up to age 49
Check Your Price
All categories /
For children

★★★☆☆ (3/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $10M
  • 10, 20, 30 years

Max issue age

  • Most options to age 65
Check Your Price
All categories /
For smokers

★★★☆☆ (3.5/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $10M
  • Yearly, 10, 20, 40, or 100 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For children

★★☆☆☆ (2/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $10M
  • 10, 20, 30 years

Max issue age

  • Most policies up to age 65
Check Your Price
All categories /
For children

★★★★☆ (4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $5M
  • 10, 20, 30 years

Max issue age

  • Up to 65 years old
Check Your Price
All categories /
For estate planning

★★★☆☆ (3.5/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $300K
  • 10, 20 or 100 years

Max issue age

  • Up to 70 years old
Check Your Price
All categories /
For business owners

★☆☆☆☆ (1/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $2.5M
  • 10, 20, 30 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For estate planning

★★★★☆ (4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Most policies up to $1M
  • Exception: Family Term Plan up to $25M

Max issue age

  • Most policies up to age 80
Check Your Price
All categories /
For parents and homeowners

★★★★☆ (4.5/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For parents and homeowners

★★☆☆☆ (2/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$

Coverage offered

  • Up to $25M
  • 10-40 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
Other

★★☆☆☆ (2.6/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $10M
  • 10, 15, 20, 25, 30 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For estate planning

★★☆☆☆ (2/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $10M
  • 10, 20, 30 years

Max issue age

  • Most up to age 69
Check Your Price
All categories /
For estate planning

★★★★☆ (4/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $500K
  • 10, 20, 25, 30 years

Max issue age

  • Up to 75 years old
Check Your Price
All categories /
For parents and homeowners

★★★☆☆ (3/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$$

Coverage offered

  • Up to $10M
  • 10-30 years, T80, T100

Max issue age

  • Up to 80 years old
Check Your Price
All categories /
For smokers

★★★☆☆ (3/5)

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

$$$$

Coverage offered

  • $100K-$5M
  • 10, 15, 20, 25, 30 years
  • For Life

Max issue age

  • Upto 75 years old
Check Your Price

Cost

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.
$$

Coverage offered

  • Up to $20M
  • 10, 15, 20, 25 years

Max issue age

  • Up to 75 years old
Check Your Price

How To Find Your TD Routing Number

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In This Article

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You've done the hard part by doing your research on the best life insurance companies, filling out the application, and completing any medical work, unless its a life insurance with no medical policy. Once you’ve been approved for life insurance, you can breathe a little easier knowing that your family is protected.

But as you know, money doesn’t grow on trees. Something has to cover the cost of this coverage and the possibility that your insurer will have to pay out your death benefit. And that something is your monthly insurance premiums.

How does your insurer get your insurance premium payments? By using the routing number and account number for your bank account to set up a pre-authorized payment agreement.

Don’t know what the routing number is for your TD bank account? Here’s how to find it.

What is a routing number?

Before we talk about how to find your TD routing number, let’s clarify what a routing number is.

In Canada, a routing number is an 8-digit banking code. It represents the financial institution (e.g., TD bank) and the specific branch (e.g., 15 York St. in Toronto) that’s associated with a bank account.

That’s why a routing number is actually made up of 2 smaller numbers: a branch number and an institution number.

The branch number is also known as the transit number. It’s 5 digits long, and it corresponds to the TD branch that your bank account is based at.

Keep in mind that this might not be the branch that you currently bank at.

The institution number represents the bank that your account is with, and it’s always 3 digits long. TD’s institution number is 004.

When you combine them, the branch number and institution number make up your account’s routing number. For example, the routing number for the TD branch located at 15 York St. in Toronto is 10152-004.

How to find your TD routing number using a cheque

If you’ve ever written a cheque for your TD bank account, you’ve probably seen your routing number. Where? Right at the bottom of the cheque!

Take a look at this example of a TD cheque:

TD Canada Trust sample cheque, highlighting the TD bank routing numbers and account number at the bottom
Image source: TD

See those funny-looking numbers at the bottom? Some of them represent your routing number.

Not all cheques look the same. So be prepared that your TD cheque may look slightly different from the one above. The routing symbols between the different sets of numbers may be different from what you see in this cheque. You might also find that your branch number and institution number are one long string of digits with no routing symbols separating them.  

The good news is that because you know that TD’s institution number is 004, you can easily locate your routing number by looking for this code in the numbers at the bottom of the cheque. Just be sure that you don’t confuse the institution number with the individual cheque number, which is the only number that should change when you flip through individual cheques in a cheque book.

How to find your TD routing number if you don’t have a cheque

Cheque payments aren’t as common these days, so you might not have a cheque book for your TD account. Does this mean that you need to order one and wait days for it to arrive via snail mail just to identify your routing number?

Nope. You can just look it up using your TD online banking account.

Here’s how to find it:

  • Log in to your EasyWeb account.
  • Select “Accounts” from the left menu.
  • Select the account that you want your routing number for.
  • Click on the “Direct deposit form (PDF)” link on the right side of the page. This will display a pop-up PDF that’s pre-filled with your branch number and institution number.

Pretty simple, right?

Note that you’ll need to have Adobe Reader installed to view the PDF. And if you’re using Safari, be sure to enable pop-ups.

How to find your TD routing number using your bank address

Don’t have a cheque book or an EasyWeb account? Unfortunately, this won’t get you out of paying your insurance premiums because there’s still a way to find your routing number: you can look it up on this website based on your branch address.

What do I need my routing number for?

As we mentioned earlier, your insurance company will use your routing number and the number for your specific TD bank account to set up pre-authorized payments for your monthly insurance premiums. They’ll do this by creating an electronic link between your bank account and their bank account. This way, they can automatically withdraw your insurance payment from your bank account each month. And you won’t have to worry about keeping track of payment dates or missing a payment and being penalized for it. 

You might also use your routing number to set up pre-authorized payments for other types of monthly expenses, such as utility bills or car payments.

And if your employer pays you electronically, they’ll probably ask for your routing number so they can set up direct deposit payments.

Visit PolicyMe to find affordable seniors life insurance Canada and to learn about what is critical illness.

Laura McKay

COO & Co-Founder
About the Author

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