Best Life Insurance Canada

Here is the list of the best life insurance companies in Canada.

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

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Top 10 Life Insurance Companies in Canada

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Best Life Insurance Canada

Which insurance company is the best?

Are you currently looking for life insurance? Would you like to know the best insurance companies in the country and the different services they offer? If so, the following article is for you!

1. Manulife

The largest insurance company in Canada, the second largest in North America and the fifth largest in the world by market capitalization, Manulife was founded in 1887 and has remained forward-looking and committed to its customers.

Manulife specialize in offering a highly competitive product that combines life, critical illness and disability insurance into a single

2. SunLife

Sun Life has over 150 years of experience in delivering on its commitments to the community, its customers, its financial allies and its shareholders.

Sun Life Financial is an active company with the means to achieve its ambitions, thanks in part to its high quality credit ratings. Following the industry best management and ethical practices, Sun Life is also committed to sound risk management. Just as it is committed to working for the financial and physical health of its customers, the company strives to build relationships based on the well-being and sustainability of the communities with which it works.

With operations around the world, Sun Life's strength also lies in its diversified financial operations.

3. Empire Life

This Canadian insurance company is nearly 100 years old. Empire Life was founded in 1923 in Toronto and is distinguished by its emphasis on respect in all its interactions with customers, business partners and employees. The company offers a wide range of life insurance products that are grouped into four broad categories: Guaranteed, Permanent, Term and Permanent pParticipating life insurance.

As of September 30, 2019, Empire Life had total assets under management of $18.1 billion.

4. Humania Assurance

Humania was created in 2012 following the dissolution of La Survivance, a mutual life insurance company. Humania distinguishes itself with HuGO Vie, an intelligent insurance online platform. The platform significantly accelerates the life insurance subscription process: nearly two-thirds of customers (more than 65%) receive an immediate positive response and get their contract in the mail within days.

5. Canada Life

Did you know Canada Life is Canada's first ever insurance company? Founded in Hamilton, Ontario, the company has been following the CLHIA Code of Ethics for the past 30 years prioritizing customer focus, privacy, transparency and competency.

6. iA Financial Group

Founded in the last decade of the 19th century, iA Financial Group manages more than $100 billion in assets today, making it one of the largest insurance companies in the country.  In the early 2010's, the company decided to adopt the principles of continuous improvement and turned to the Lean work philosophy in order to better meet the needs of its clients.

7. Desjardins Life Insurance

Desjardins Life Insurance was founded in 1999 by Desjardins Group when the Québec giant decided to add personal insurance to its product line. The group controls hundreds of offices and agencies that offer financial advice and services across Canada, mainly in Quebec and Ontario. Desjardins Insurance continues to expand its service offering, which now includes health, travel, auto, home and group insurance.

8. SSQ Insurance + La Capitale

SSQ Insurance is one of Canada's largest financial institutions. SSQ Insurance represents:

  • More than 3million clients
  • More than 2,000 employees
  • 12 billion in assets under management.

Founded in 1944 in Quebec City, SSQ Insurance is a mutual insurance company that has always been committed to its community. With $12 billion in assets under management, SSQ is a flagship of the Quebec economy and one of the largest insurance companies in Canada.

La Capitale has been providing financial security to government employees and individuals for more than 40 years through the exclusive benefits offered to its members. The user-oriented client space allows users to easily access the very complete range of products offered by the insurer, to receive an offer in just 3 minutes (for car and home insurance) and to consult various forms online.

9. RBC Insurance

RBC Insurance has been a leader in the Canadian life insurance market since the 1960s, thanks to its wide range of insurance products, some of which are very attractive. For example, the Family-friendly pricing program offers term life insurance for as little as a dozen dollars per month to clients who already have car and home insurance. RBC Insurance also offers recreational, health, dental, travel and other types of insurance to suit your needs.

10. BMO Insurance

BMO Financial Group has the distinction of being the oldest chartered bank in the country. It offers a wide range of insurance coverage and policies, including critical illness, travel, hospitalization and accident for clients who already have auto and home insurance.

Special mention | Life insurance company

Blue Cross was founded in 1939 and brings together 7 not-for-profit regional insurance companies covering approximately 7 million Canadians. Blue Cross offers a unique plan: Tangible Hybrid Protection. This plan offers dual protection through its long term care coverage starting at age 56 as well as its $1,000,000 coverage. Blue Cross is also known for its prompt payment of claims.

UV Insurance was founded in 1889. Formerly UV Mutual, it is one of the oldest life insurance companies in Canada. It has succeeded in distinguishing itself through its financial strength and impeccable customer service. UV Assurance offers several products in life and critical illness insurance, group insurance and investments.

Equitable Life Insurance of Canada has one goal in mind: the satisfaction of their clients. This insurance company sells attractive life insurance and investment products.

Assumption Life is a company that advocates mutual aid, integrity, modernization and the greatest possible commitment to its community.

We are fortunate to have top-notch insurance companies in Canada. Take full advantage of their products and services!

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