Canada Life Insurance review

What insurance coverage options does Canada Life offer?

Canada Life offers individual and group insurance products. Group insurance refers to products or policies you may have through your employer. We will focus on the individual insurance products Canada Life offers. Below are the main categories of Canada Life Insurance products.

• Life insurance

  • Permanent life insurance. Permanent life insurance covers you for your entire life – as long as you pay your premiums. There is also a savings component that you can access throughout your life.
  • Term life. Term life insurance allows you to buy coverage for a specific time period, such as 5 or 10 years. It is generally the most affordable type of life insurance.

• Health insurance

  • Health and dental. This insurance covers medical expenses usually not covered by a provincial health plan. This can include dental expenses, prescription drugs, vision care, hospital stays and ambulance transportation.
  • Critical illness. This insurance covers costs associated with a sudden, life-altering illness. You receive a lump-sum payment.
  • Disability. This insurance helps provide you with an income if you become injured or sick and can’t work.

• Other insurance options

  • Creditor. This insurance is specifically tied to helping you or your family keep making your payments on outstanding debt such as mortgages, credit cards or lines of credit.
  • Business owner. This insurance helps you keep your business operating in the event you become injured, seriously ill or die. There are also coverage options for key employees.

How to contact Canada Life

You can purchase individual Canada Life Insurance products through a Canada Life adviser. Here are some ways to get in touch with Canada Life.

• Phone. Canada Life has a different number for you to contact depending on which province you live in. Visit the Canada Life website to determine what number you should call to make inquiries about your policy or to find a financial adviser if you are not yet a customer.
• Email. There are several email addresses you can use to contact Canada Life depending on what kind of insurance coverage you have. It’s best to start at the Contact Us section of the Canada Life site to find the right one.
• Find an adviser. Canada Life‘s website helps you locate an adviser in your area that can help you with inquiries about Canada Life‘s insurance products.

Compare other life insurance providers

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Product CAFLI	Types of Insurance	Coverage Range	Issue Ages	Medical Exam Required	Province Availability
PolicyMe Life Insurance	Term Life, Critical Illness	$100,000 - $5,000,000	18 - 75	No	AB, BC, MB, NB, NL, NS, ON, PEI, QC, SK, YT, NT, NU	Get fast and affordable term life insurance. Personalize your policy details and get an estimate price within seconds. No phone call, meeting or paperwork required. Get an instant decision.	Get a quoteMore Info Compare	loading Fetching your data...
PolicyAdvisor	Whole Life, Term Life, Universal, No Medical	$25,000 - $25,000,000	18 - 75	No	AB, BC, MB, ON	PolicyAdvisor is a digital life insurance brokerage that has partnerships with 20 insurers in Canada.	Get a quoteMore Info Compare	loading Fetching your data...

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Frequently asked questions about Canada Life Insurance

• Who owns Canada Life?

  Canada Life is owned by the financial holding company Great-West Lifeco, which is headquartered in Winnipeg, Manitoba. Great-West Lifeco owned three insurance subsidiaries – Great-West Life Assurance, Canada Life Assurance and London Life Insurance, which were merged into a single Canada Life brand in 2019. The consolidated brand has about 11,000 employees across Canada.

• How does the rebranding to Canada Life affect my existing policy?

  According to Canada Life, your existing policies with Great-West Life or London Life will not be affected by the consolidation into one brand. You don’t have to sign anything, fill out any forms or provide any additional information or paperwork.

• How do I make or track a Canada Life Insurance claim?

  It depends on the claim you are making and which type of insurance coverage you have. You can contact Canada Life by phone to start the process. A full list of options can be found on Canada Life‘s website.

• How do I check my coverage or make changes to an existing policy?

  You need to contact your adviser to check your coverage or to make changes to an existing policy. You can visit this section of the Canada Life site for more information.