UV Life Insurance Review Canada: What You Need To Know (Updated!)
UV life insurance review (2026 update)
UV life insurance has customizable policy options in Canada including cash value, death benefit, and a combination of both. No-medical-exam options are also available with UV.
UV has been around since 1889, when it was founded in Quebec. It is now one of the best insurance companies in Canada with 260 employees and over 330,000 mutualists.
UV Life Insurance ★★★☆☆ (3.0)
* 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.
UV life insurance is known for its flexible policies and its rider options, including a complimentary severe loss of autonomy rider on certain plans. The company offers a mobile app and average premiums compared to other Canadian providers. It also has a long history of financial stability, according to its annual report.
UV offers a couple of advantages you may not see from other life insurance companies. All of its policies are available with simplified underwriting, which speeds up the application process by waiving all medical exams. However, you’ll need to undergo regular underwriting with a medical exam to get UV’s other unique benefit: life insurance with no upper limit on coverage.
UV life insurance pros & cons
UV is a trusted company for life insurance, but there are a few reasons it stands out from its competitors.
UV life insurance cost and value
The cost of life insurance in Canada depends on your lifestyle risk factors and the coverage you want. For UV Term Superior+ life insurance, average monthly premiums for non-smokers with $500,000 in coverage range from 1% to 11% above the industry average.
* 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.
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.
UV life insurance policies at a glance
UV Insurance offers whole life insurance and term life insurance policies.
Here’s a quick overview of UV’s life insurance products in Canada, from term length options to premiums and additional perks.
All UV’s life insurance policies are available with simplified underwriting that doesn’t require a medical exam. However, you’ll only be able to purchase a certain amount of coverage without a medical exam. Exact coverage caps vary, but most UV applicants will need a medical exam for more than $150,000 in coverage.
UV insurance riders
UV’s insurance options come with a ton of riders you can use to customize your policy. Key riders include:
- Child rider: Provides optional term life insurance coverage for your children
- Waiver-of-premium riders: Allows you to maintain coverage without paying premiums in the event of death, disability, or loss of employment
- Critical illness insurance rider: Adds critical illness insurance to your life insurance coverage (only available with full underwriting)
How UV compares to other insurance providers
* 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
UV life insurance vs. PolicyMe life insurance
PolicyMe and UV life insurance differ in pricing, coverage options, customer experience, and how policies are purchased.
Cost
PolicyMe’s life insurance premiums are around 8% lower than UV’s, on average. PolicyMe also offers higher coverage amounts with streamlined underwriting.
Customer satisfaction
UV has a 3.2-star Google rating, with some reviewers reporting difficulty getting in touch with representatives. UV doesn’t offer online quotes or purchases, so customers work with representatives when shopping for coverage.
By contrast, PolicyMe holds a “Great Customer Service” badge based on its 4.9-star Google Reviews average and A+ Better Business Bureau grade.
Convenience
UV doesn’t issue quotes online or let clients purchase coverage without scheduling a consultation with an advisor. PolicyMe allows customers to quote and purchase life, health, and critical illness insurance online, with an application process that typically takes 20 minutes or less.
The bottom line: Who should consider UV?
You should consider UV life insurance if you’re interested in a no-medical-exam coverage, a high death benefit, or the severe loss of autonomy rider that’s included with many UV policies. UV’s unique customization options could offer peace of mind to your family if you’re able to afford the slightly higher price tag.
UV may not be the right fit if you’re looking for participating life insurance or universal life insurance, which it doesn’t offer. If affordability is your priority, it’s worth comparing UV’s term life insurance rates with other providers, including PolicyMe or Wawanesa.
FAQ: UV life insurance
Bonnie Stinson is an insurance writer and researcher in Toronto with a decade of experience producing helpful, accurate content for Canadians. They have published resources for some of Canada's most innovative and consumer-trusted companies in the health, legal, and fintech sectors.
Bonnie Stinson is an insurance writer and researcher in Toronto with a decade of experience producing helpful, accurate content for Canadians. They have published resources for some of Canada's most innovative and consumer-trusted companies in the health, legal, and fintech sectors.