Canada Life, by providing life insurance products for families and business alike, aims to offer a safety net to your loved ones, making sure they will be taken care of whatever happens.
Focused on the well-being of their community, Canada Life works towards building a financially, physically and mentally stronger Canada. Theysupport many sporting events such as the 24h Trembant, PGA events and the Canadian Hockey League events (CHL).
Canada Life is owned by Great-West Life, a major player in the Canadian insurance market.
Whether you are planning on starting a family, buying a house, getting married or running a business, Canada Life has a life insurance protection for you. The insurer also provides critical illness, disability and health and dental insurance.
Canada Life offers term and permanent personal life insurance based on your situation. For some people, term life insurance is the best option since it is a lower cost option that you can adjust over time. Some prefer participating and universal life insurance even though you'll pay more at first, since the growing cash value part of your insurance policy could make it worth it in the long run.
Canada Life offers a classic term insurance. You can choose between 10,20 or 30 years of protection. You could also decide to insure yourself up to your 65th birthday.
When your term life insurance ends, it can be renewed into a permanent life insurance policy without additional medical exams. You could also decide to cancel your policy, add riders and coverage or simply let it renew automatically.
Canada Life offers a classic permanent insurance protection. This permanent coverage is yours for life and has cash value that will grow over time and from which you can withdraw if need be. You can choose between the participating life insurance or the universal life insurance. Both coverage have a cash value, but are structured differently.
If you wish to finance your kids future or leave a legacy to your heirs, the participating life insurance might be what you need. With your policy's cash value, you will be safe whatever happens. Participating life insurance is the most expensive insurance because your cash value has a guaranteed growth rate.
Participating life insurance is a lifelong coverage that pays a lump sum to your beneficiaries in the event of your death. The amount of the tax-free payout is reduced everything you withdraw from your cash value.
Every time you pay your premiums, your payments are managed by professionals working to grow your money and help you receive dividents.
Just like participating life insurance, universal insurance is a lifelong protection with a growing cash value.
Your policy is divided into two parts: the investment and the insurance. You can withdraw from your investment, but it will reduce the amount of your policy's cash value.
The universal life insurance is a more flexible insurance product because you decide where you invest your money.