Best Life Insurance Canada 2022

Here is the 2023 list of the best life insurance in Canada

Discover the best insurance companies that offer insurance products to protect the financial future of Canadians.

Get your free quote
best life insurance canada

What is life insurance?

  • Life insurance means achieving peace of mind. Concretely, it is a tax-free payment, that is offered to your loved ones as death benefit.
  • Having a life insurance policy means offering the promise of financial security to the people who count on you.

How does life insurance work?

  1. First, you choose the term of your life insurance policy and then how much life insurance that will be paid as policy's death benefit by the life insurance companies.
  2. Then, you pay a monthly or annual life insurance premium to be insured. At Emma, we make sure we find the best life insurance for your needs at the best price.
  3. In the event of your death, the beneficiaries, those you have chosen to cover with your life insurance, will receive the death benefit to protect them against this unfortunate event.

Term vs Whole life insurance

Term life insurance is a type of life insurance that lasts for a set period of time. As explained further below, you choose the length of your term insurance coverage based on your financial security needs.

In the event of your death, a fixed tax-free amount is sent to the people you name (your beneficiaries). Unlike permanent life insurance, the amount of a term life insurance policy does not vary. In fact, it remains fixed for the entire term of the policy, regardless of the term chosen in your contract.

Whole life insurance (also known as permanent insurance) is a type of life insurance that covers you for the duration of your policy from the day you buy it and put it in force until the day you die. Most whole life policies also include an investment or cash value component. Part of the premium is invested and generates cash value over time, as you put money into a whole life policy. This cash value may be accessed during the insured's lifetime in one of two ways: withdrawing or borrowing against it.

Emma offers the fastest & cheapest life insurance in Canada. In fact, you can get approved in less than 5 minutes and get your life insurance within 20 minutes!

Interested? Get your free quote right now