"Nearly half of Canadians are skipping life insurance. Here’s why" - Global News

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September 10, 2025

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Canadians are skipping life insurance, and it’s mostly because they think it’s too expensive, a new report shows.

Almost half of Canadians (42 per cent) don’t have life insurance or aren’t sure if they do, and 49 per cent have no plans to purchase any in the next five years, a new survey by insurance firm PolicyMe and Angus Reid said on Wednesday.

“The biggest barrier is affordability. Our recent report found that one in three Canadians without coverage (34 per cent) say it’s too expensive, and that jumps to 42 per cent among households with children,” Ostro said.

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PolicyMe is a digital insurance solution on a mission to make buying life, health, and critical illness insurance effortless. We’ve cut out the unnecessary steps, lowered costs, and built a straightforward way for Canadians to get covered without the hassle. We know insurance isn’t just about policies; it’s about people, not paperwork. That’s why we focus on giving honest advice, fair prices, and a process that actually makes sense. No upselling, no confusion—just reliable coverage designed with you in mind.

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