Life Insurance in Canada
Life insurance can help protect the people who depend on you by providing a tax-free benefit to your beneficiaries when you die.
- Term and permanent coverage options
- Protection for family financial goals
- Advisor guidance before you apply
What Is Life Insurance?
Life insurance is a contract that can pay a benefit to your chosen beneficiaries if you die while the policy is in force. Families often use it to help with income replacement, mortgage obligations, education goals, final expenses, and long-term planning.
The right amount and type of coverage depend on your household needs, budget, health history, and how long you want protection to last.
Common Types of Life Insurance
Term life insurance
Coverage for a selected period, often used for temporary needs such as a mortgage or family income protection.
Whole life insurance
Permanent coverage with a cash value component, subject to the policy terms.
Universal life insurance
Permanent coverage that may include flexible premium and investment features depending on the product.
Who May Need Life Insurance?
Life insurance may be worth considering if someone depends on your income, you have debts that could affect your family, or you want to leave funds for final expenses or long-term goals.
A licensed advisor can help explain the tradeoffs between temporary and permanent coverage and identify the policy details you should verify before applying.
Explore Life Insurance Options
Talk with a licensed advisor
Share your goals and questions. An advisor can help you understand the available options and the details to confirm before you apply.