Save on Life Insurance in Canada, Compare Life Insurance Rates

Life insurance can often feel like a big, added extra expense and generally, people tend to worry about having enough coverage while at the same time getting the best value for their money. We want to remove the concern associated with getting just a single life insurance quote, by offering a free life insurance comparison system. This allows users to compare life insurance rates from competing life insurance companies. To present the kind of life Insurance Canada needs, we work with most of the top life insurance companies in Canada. We strive to make sure our visitors get the best, most competitively priced Canadian life insurance rates on the market today.

Life Insurance Canada - Quick Quotes

Getting a Canadian life insurance quote should never be a time consuming or difficult process. Neither should the process of life insurance quote comparison be tedious or cumbersome. We strive to make sure you get a variety of highly competitive life insurance quotes to compare in just a few minutes.

High Quality, Cheap Life Insurance Rates

Our focus is our visitors, and we know how important it is to find the life insurance Canada needs without a sacrifice of quality. Finding top quality, cheap life insurance is most likely when you compare life insurance companies. We make it really easy to do with our free life insurance coverage comparison service

The Best Life Insurance Shopping

Our service is fast and easy to use, and really can find you a low cost life insurance policy - we also make the quotes available at absolutely no cost. You can be confident knowing that you've thoroughly shopped a large portion of the life insurance Canada has available for your requirements and gotten a really competitive rate.

Our Life Insurance Canada Quote Comparison Service
is a Great Way to Save!

Life insurance is undoubtedly a very important investment for almost anyone, regardless of what life stage they are currently at. Oftentimes, the terminologies and general structure of life insurance policies can feel confusing with so many products to choose from. There's whole life insurance, universal life insurance, permanent life insurance and term insurance or term life insurance.

We've summarized the general structure and benefits associated with a few different types of life insurance to help you make a better informed decision. However, due to the complex nature of some of these products, our free service applies to term life insurance policies only. If you prefer a life insurance product other than term life, please visit our insurance directory to find a life insurance broker or agent who can better assist you. Click the tabs below for more.

Coverage

Provides lifetime coverage with the added benefit of accumulating cash value over the years.

Premiums

Fixed insurance premiums which cover the cost of the insurance and act as an investment. The investment component of a whole life insurance policy builds an accumulated cash value through equity growth and possible tax-deferred dividends or interest which build up over time. A policy holder can also borrow against or withdraw against the investment component of a whole life insurance policy.

Suitable For

  • The need to provide dependents with cash quickly after the head of the family dies
  • The need to have cash to liquidate business debt, pay off mortgages and/or help family members reduce their debts
  • To fund requests from charities
Benefits

  • Premiums, life insurance policy face value and the surrender values are guaranteed
  • You choose how long you want to pay the premiums for. You can pay for 10, 15, 20 or even 30 years, up to the age of 65 or later so you can plan according to your priorities
  • Surrender values are available starting in the 11th year of the contract, and they continue to increase with time, allowing the accumulation of a fund that can be used as needed
Coverage

Provides insurance coverage for a specific time period ex. 10, 15, 20, 25 or 30 years. Once the policy term expires it is up to the policy owner to decide if they want to renew the policy or let the coverage end.

Premiums

Specifically designed to insure individuals against loss of life and has no additional cash value. If a person dies within a policy term, the death benefit is paid out. However, if the policy term has ended, no death benefit is paid. Policy holders can also take advantage of options to extend the coverage period or even transfer to a permanent life insurance solution should the need arise.

Suitable For

  • Meet high, short-term protection needs for the lowest initial cost
  • Gives you the option to pay off existing debts - like your mortgage
  • Ensures you can maintain a comfortable lifestyle without having to worry about large premiums
  • Even allows you to invest in other long term educational plans or RSP's
Benefits

  • Premiums guaranteed to remain the same for 10 or 20 years depending on your needs
  • Affordable life insurance coverage
  • No medical evidence required at renewal period. However, medical evidence may be required if coverage amount increases
  • Ability to convert to a permanent life insurance policy
  • Be rewarded for a healthy lifestyle - your personal health and lifestyle determines the premium for your insurance coverage
  • Complete control of your coverage
Coverage

Universal life insurance coverage is a bit of a combination of the low-cost protection of term life insurance plus a savings elements similar to whole life insurance.

Premiums

Premiums in a universal life insurance policy are broken down into two components

  • Cost of insurance - the premium value associated within this must be paid regularly so the policy stays in effect but can be shifted overtime as a users needs change.
  • Savings component known as the cash value is the premium value paid in excess of the minimum cost of insurance.
Suitable For

Universal life insurance is best suited for individuals buying life insurance early in life (20's - 30's) as this gives the maximum time to build upon your life insurance policy. This ensures that you will let the policy mature for at least 10-15 years before you look at taking out the cash component or decide to shift any investments.

Benefits

  • Potentially won't need to pay insurance premiums for life but will still remain insured into your retirement. This helps reduce your costs as you get older.
  • Take advantage of tax efficiency which help you build assets for your children, help protect your mortgage, enhance your retirement income and help protect your retirement savings.

To Find the Cheap Life Insurance Canada Deserves,
Compare Life Insurance Quotes &
Pay Attention to the Following Factors:

Life insurance costs, while necessary, can be a significant investment and any prudent life insurance customer should always look for ways to save as much as possible on their life insurance policy. There are a number of factors that can materially change the life insurance quote you get from various providers, so make sure you compare life insurance rates from as many companies as possible, and use our list of quick tips on how to save on the life insurance Canada desires.

Buy Life Insurance Early

When it comes to life insurance, younger usually does mean cheaper, so it's always recommended to sign up for an insurance policy when you're in your 20's/30's. Typically, your health is better, you've got a solid enough history and usually able to budget for life insurance premiums to cover a growing family - sometimes referred to as family life insurance.

Stay Healthy

Aside from the personal benefits of being healthy, you can also save substantially on insurance premiums. Make sure you get regular physicals, keep your weight down and generally keep yourself active and healthy to acquire the cheap life insurance Canada desires.

Avoid Excessive Drinking

Stay away from excessive drinking. Not having any drinking issues can save you money, while known drinking issues can cause your premiums to increase by 50%. Any individual who drinks 3-4 beers a day would be considered an excessive drinker and a higher risk as per life insurance standards.

Smoking Can Increase Your Premiums

Smoking not only impacts your health and the health of those around you, but also impacts your life insurance premiums. Stop smoking at least a year in advance of applying for a life insurance policy, otherwise your premiums might double.

Rounding Matters

We already know younger = cheaper life insurance rates, so make sure that your age is rounding down and not up when applying for a life insurance quote. For example if you are turning 30 in December, apply for an insurance quote in the first 6 months of the year when your age will be rounded down to 29.

Safe Driving = Savings On Life Insurance

If you're a safe driver, aside from a better car insurance quote, you will also benefit from a better life insurance quote. Drivers with a bad driving history will typically be penalized by life insurance quote providers with a 25-50% increase. Always practice safe driving habits.

Happiness = Savings

Stay happy - try to invest in people and activities that keep you mentally positive and upbeat. Depression is a very real issue and those with a history of depression can often pay between 50% and 200% more for life insurance coverage.

Shop Around For The Right Life Insurance Quotes

Like any insurance product, the more you shop around, the more you know and the greater the opportunity to save. Use our free life insurance quote compare system to investigate a couple of good life insurance providers. Find out what is the cheapest and best fit from the life insurance Canada has available for you and your loved ones.

Compare Insurance Products in other Regions of Canada

Choose the province or territory you are looking to get insurance in

Depending on where you live the process of getting insurance can be different. Whether it's car insurance, motorcycle insurance, term life insurance or home insurance, we have you covered. Choosing your province or territory allows us to direct you to the right people and resources who can provide the best possible insurance coverage for your needs.

Looking For a Different Type of Insurance Product?

With everything from car insurance to motorcycle insurance, life insurance and home insurance we have you covered. The best way to know you are getting the most out of your insurance quote is to compare and shop around and we do that for you. Choose the type of insurance coverage you are looking for and lets get started.

Car Insurance

Auto insurance is an essential coverage for drivers and mitigates the risks if you are involved in an accident.

Motorcycle Insurance

Motorcycle insurance is essential for bike drivers and covers you in the event of a motorcycle accident.

Home Insurance

Home insurance helps you own, maintain and protect your home from various sorts of damage to your home or its contents.

Life Insurance

Life insurance helps you have a piece of mind that your loved ones will be financially taken care of in the event of your death.