The cheapest form of life insurance is term life insurance. As the name suggests, a term policy is a type of affordable life insurance meant to cover you during a specific amount of years.
What is considered "cheap" will differ from household to household in Canada; but term life insurance is a lot more affordable than most people think. For example, PolicyMe's term life insurance rates start at around $22. This is a great premium rate for the peace of mind of having financial protection in place for your beneficiaries.
The types of life insurance that tend to be more expensive would be a permanent life insurance policy, a universal life insurance policy, or a “no medical” life insurance policy. The latter is a type of life insurance that does not require a medical exam, but will always be more expensive than a term policy.