Still need that $500,000 in coverage?

Get back to your quote now

Life Insurance

Term Life Insurance

Life Insurance Calculator

Life Insurance 101

Life Insurance For...

People

Couples Seniors Parents Single Parents Employees

Health

Diabetes Smokers Overweight Pre-Existing
Conditions Cancer HIV

Finances

Mortgages Investment High-Net-Worth
Individuals

By Province

Alberta British Columbia Manitoba Ontario Saskatchewan

By City

Brampton Calgary Edmonton Mississauga Ottawa Toronto Vancouver Winnipeg

Critical Illness Insurance

NEW

Reviews

PolicyMe Customer Reviews

Life Insurance Company Reviews

Life Insurance

Term Life Insurance

Life Insurance Calculator

Life Insurance 101

Life Insurance For...

People

Couples Seniors Parents Single Parents Employees

Health

Diabetes Smokers Overweight Pre-Existing Conditions Cancer HIV

Finances

Mortgages Investment High-Net-Worth Individuals

By Province

Alberta British Columbia Manitoba Ontario Saskatchewan

By City

Brampton Calgary Edmonton Mississauga Ottawa Toronto Vancouver Winnipeg

Critical Illness Insurance

NEW

Reviews

PolicyMe Customer Reviews

Life Insurance Company Reviews

Back to Blog Home

/

Life Insurance

Life Insurance

Life Insurance Payout in Canada: What Is It and How Does it Work? (2023)

Life Insurance Payout in Canada: What Is It and How Does it Work? (2023)

June 1, 2023

•

5 minutes

By

How Much Is Life Insurance In Canada? (Average Cost Per Month 2023)

How Much Is Life Insurance In Canada? (Average Cost Per Month 2023)

May 31, 2023

•

8 minutes

By

Best No Medical Life Insurance: Top Companies in Canada (2023)

Best No Medical Life Insurance: Top Companies in Canada (2023)

May 31, 2023

•

7 minutes

By

Funeral Insurance: Guide for Canadians (2023)

Funeral Insurance: Guide for Canadians (2023)

May 31, 2023

•

6 minutes

By

Types of Life Insurance in Canada, Explained (2023 Update)

Types of Life Insurance in Canada, Explained (2023 Update)

May 26, 2023

•

8 minutes

By

20 Best Life Insurance Companies for Canadians (2023)

20 Best Life Insurance Companies for Canadians (2023)

May 25, 2023

•

10 minutes

By

Joint Life Insurance: Best Options for Canadian Couples in 2023

Joint Life Insurance: Best Options for Canadian Couples in 2023

May 24, 2023

•

7 minutes

By

Best Term Life Insurance in Canada: Top Companies and Policies (2023)

Best Term Life Insurance in Canada: Top Companies and Policies (2023)

May 18, 2023

•

5 minutes

By

Term Versus Permanent Life Insurance: What's Better for You?

Term Versus Permanent Life Insurance: What's Better for You?

May 18, 2023

•

8 minutes

By

What is Term Life Insurance in Canada? (2023 Guide)

What is Term Life Insurance in Canada? (2023 Guide)

May 18, 2023

•

9 minutes

By

Life Insurance Medical Exam: What It Is And How To Prepare! (2023)

Life Insurance Medical Exam: What It Is And How To Prepare! (2023)

May 18, 2023

•

6 minutes

By

Group Life Insurance: Enough Coverage On Its Own? (2023)

Group Life Insurance: Enough Coverage On Its Own? (2023)

May 18, 2023

•

6 minutes

By

Life Insurance for Seniors in Canada: Best Policies and Companies (2023)

Life Insurance for Seniors in Canada: Best Policies and Companies (2023)

May 12, 2023

•

7 minutes

By

7 Reasons Life Insurance Won't Pay Out in Canada (Updated for 2023)

7 Reasons Life Insurance Won't Pay Out in Canada (Updated for 2023)

May 5, 2023

•

6 minutes

By

Is Life Insurance Worth It In Canada? (2023 Guide)

Is Life Insurance Worth It In Canada? (2023 Guide)

May 4, 2023

•

7 minutes

By

Best Bank-Owned Life Insurance for Canadians (Updated 2023)

Best Bank-Owned Life Insurance for Canadians (Updated 2023)

May 2, 2023

•

5 minutes

By

Key Canadian Life Insurance Statistics [Updated for 2023]

Key Canadian Life Insurance Statistics [Updated for 2023]

April 28, 2023

•

6 minutes

By

Cristina DaPonte

Universal Life Insurance in Canada: Good Investment Strategy or Bad News?

Universal Life Insurance in Canada: Good Investment Strategy or Bad News?

April 21, 2023

•

15 minutes

By

Sun Life Insurance Review: 2023 Guide for Canadians

Sun Life Insurance Review: 2023 Guide for Canadians

April 20, 2023

•

8 minutes

By

Desjardins Life Insurance Review: Everything you Need to Know

Desjardins Life Insurance Review: Everything you Need to Know

April 20, 2023

•

7 minutes

By

Borrowing Against Life Insurance in Canada: Smart Money Hack or Risky Decision? (2023)

Borrowing Against Life Insurance in Canada: Smart Money Hack or Risky Decision? (2023)

April 14, 2023

•

7 minutes

By

Renewing Your Life Insurance Policy: Great Perk or Unnecessary Expense?

Renewing Your Life Insurance Policy: Great Perk or Unnecessary Expense?

April 7, 2023

•

4 minutes

By

Whole Life Insurance, Explained (2023 Guide for Canadians)

Whole Life Insurance, Explained (2023 Guide for Canadians)

March 29, 2023

•

8 minutes

By

How Much Life Insurance Do I Need? 6 Ways to Calculate (2023)

How Much Life Insurance Do I Need? 6 Ways to Calculate (2023)

March 29, 2023

•

9 minutes

By

Best Individual Life Insurance: Needed If You’re Single & Childless?

Best Individual Life Insurance: Needed If You’re Single & Childless?

March 29, 2023

•

6 minutes

By

Life Insurance for Children: To Buy or Not to Buy? (Parent Guide 2023)

Life Insurance for Children: To Buy or Not to Buy? (Parent Guide 2023)

March 28, 2023

•

7 minutes

By

What Is Mortgage Life Insurance? (2023 Canadian Homeowner Guide)

What Is Mortgage Life Insurance? (2023 Canadian Homeowner Guide)

March 22, 2023

•

8 minutes

By

How Much Mortgage Life Insurance Costs in Canada (2023)

How Much Mortgage Life Insurance Costs in Canada (2023)

March 21, 2023

•

8 minutes

By

Is Life Insurance Taxable in Canada? Experts Answer (2023)

Is Life Insurance Taxable in Canada? Experts Answer (2023)

March 16, 2023

•

9 minutes

By

Mortgage Versus Life Insurance: Which Is the Smarter Choice? (2023 Guide)

Mortgage Versus Life Insurance: Which Is the Smarter Choice? (2023 Guide)

March 16, 2023

•

7 minutes

By

Best Life Insurance For Parents (2023 Guide)

Best Life Insurance For Parents (2023 Guide)

March 14, 2023

•

6 minutes

By

High Risk Life Insurance: What You Need to Know (2023 Applicant Guide)

High Risk Life Insurance: What You Need to Know (2023 Applicant Guide)

March 14, 2023

•

8 minutes

By

Life Insurance for Elderly Parents in Canada (2023 Guide)

Life Insurance for Elderly Parents in Canada (2023 Guide)

March 14, 2023

•

7 minutes

By

Life Insurance for Single Parents (2023 Guide)

Life Insurance for Single Parents (2023 Guide)

March 14, 2023

•

6 minutes

By

Best Life Insurance for Smokers (2023 Guide for Canadians)

Best Life Insurance for Smokers (2023 Guide for Canadians)

March 7, 2023

•

6 minutes

By

Best Whole Life Insurance Canada: Top Companies and Policies (2023)

Best Whole Life Insurance Canada: Top Companies and Policies (2023)

November 29, 2022

•

By

Universal vs. Term Life Insurance: Which Is Better? (2023 Guide)

Universal vs. Term Life Insurance: Which Is Better? (2023 Guide)

November 15, 2022

•

8 minutes

By

How Much Term Life Insurance Should You Buy? (2023 Guide)

How Much Term Life Insurance Should You Buy? (2023 Guide)

November 11, 2022

•

5 minutes

By

The Best Life Insurance Term Lengths (And What You Don't Need)

The Best Life Insurance Term Lengths (And What You Don't Need)

November 11, 2022

•

4 minutes

By

Is Mortgage Life Insurance Mandatory In Canada?

Is Mortgage Life Insurance Mandatory In Canada?

October 27, 2022

•

6 minutes

By

Using Life Insurance To Pay off Mortgage Debt: A Guide for Canadians

Using Life Insurance To Pay off Mortgage Debt: A Guide for Canadians

October 27, 2022

•

5 minutes

By

Single vs Joint Life Insurance: Pros and Cons for Canadians (2023 Update)

Single vs Joint Life Insurance: Pros and Cons for Canadians (2023 Update)

October 14, 2022

•

8 minutes

By

4 Advantages of Term Life Insurance in Canada (Pros and Cons 2023)

4 Advantages of Term Life Insurance in Canada (Pros and Cons 2023)

October 7, 2022

•

5 minutes

By

Should You Get Term Life Insurance? (2023 Guide)

Should You Get Term Life Insurance? (2023 Guide)

October 7, 2022

•

6 minutes

By

Life Insurance for Diabetics: Coverage Guide (2023)

Life Insurance for Diabetics: Coverage Guide (2023)

September 7, 2022

•

7 minutes

By

Can You Get Life Insurance if You’re Overweight? (2023)

Can You Get Life Insurance if You’re Overweight? (2023)

August 18, 2022

•

6 minutes

By

Life Insurance with Pre-Existing Conditions: Applicant Guide (2023)

Life Insurance with Pre-Existing Conditions: Applicant Guide (2023)

August 16, 2022

•

6 minutes

By

What Is Life Insurance in Canada: How Does it Work? (2023)

What Is Life Insurance in Canada: How Does it Work? (2023)

August 5, 2022

•

9 minutes

By

How Does Life Insurance Work in Canada? (Updated for 2023)

How Does Life Insurance Work in Canada? (Updated for 2023)

June 15, 2022

•

8 minutes

By

Marijuana and Life Insurance: Will I Still Get Approved? (2023 Guide)

Marijuana and Life Insurance: Will I Still Get Approved? (2023 Guide)

June 8, 2022

•

8 minutes

By

Term Versus Whole Life Insurance: What's Better? (2023 Update)

Term Versus Whole Life Insurance: What's Better? (2023 Update)

May 25, 2022

•

7 minutes

By

The Truth About Guaranteed Issue Life Insurance

The Truth About Guaranteed Issue Life Insurance

May 18, 2022

•

6 minutes

By

Best Life Insurance for Millennials in Canada

Best Life Insurance for Millennials in Canada

May 18, 2022

•

7 minutes

By

What Is 20-Year Term Life Insurance?

What Is 20-Year Term Life Insurance?

May 18, 2022

•

3 minutes

By

Can You Have Too Much Term Life Insurance?

Can You Have Too Much Term Life Insurance?

May 18, 2022

•

12 minutes

By

Insurance Terms and Related Concepts You Need to Know

Insurance Terms and Related Concepts You Need to Know

May 18, 2022

•

6 minutes

By

Life Insurance and a Will: Why Having Just One Or The Other Isn’t Enough

Life Insurance and a Will: Why Having Just One Or The Other Isn’t Enough

May 18, 2022

•

10 minutes

By

What Does Life Insurance Cover in Canada? (List of Typical Expenses)

What Does Life Insurance Cover in Canada? (List of Typical Expenses)

April 1, 2022

•

7 minutes

By

Bronwyn Kienapple

Can You Pay For Life Insurance in Canada With a Credit Card?

Can You Pay For Life Insurance in Canada With a Credit Card?

April 1, 2022

•

6 minutes

By

How Whole Life Insurance Works in Canada

How Whole Life Insurance Works in Canada

October 4, 2021

•

8 minutes

By

How Does Term Life Insurance Work?

How Does Term Life Insurance Work?

August 13, 2021

•

7 minutes

By

The 5 Biggest Life Insurance Mistakes Parents are Making in 2021

The 5 Biggest Life Insurance Mistakes Parents are Making in 2021

August 9, 2021

•

8 minutes

By

Life Insurance Through Work Benefits: Does it Provide a False Sense of Security?

Life Insurance Through Work Benefits: Does it Provide a False Sense of Security?

May 4, 2021

•

5 minutes

By

Do I Need To Buy Insurance For My Rental Car?

Do I Need To Buy Insurance For My Rental Car?

May 4, 2021

•

5 minutes

By

Understanding Your Employee Benefit Plan & Life Insurance Through Work

Understanding Your Employee Benefit Plan & Life Insurance Through Work

March 29, 2021

•

10 minutes

By

Survey Reveals Parents' Biggest Life Insurance Mistakes

Survey Reveals Parents' Biggest Life Insurance Mistakes

March 4, 2021

•

7 minutes

By

Where Are My Life Insurance Premiums Going?

Where Are My Life Insurance Premiums Going?

February 23, 2021

•

8 minutes

By

Half of Canadian Policyholders Are Being Sold A Costly Life Insurance Product That Most People Don’t Need

Half of Canadian Policyholders Are Being Sold A Costly Life Insurance Product That Most People Don’t Need

October 6, 2020

•

5 minutes

By

New Analysis Reveals Canadians are Overpaying for Life Insurance by 36%

New Analysis Reveals Canadians are Overpaying for Life Insurance by 36%

July 15, 2020

•

3 minutes

By

Should You Buy Life Insurance for Children?

Should You Buy Life Insurance for Children?

June 15, 2020

•

7 minutes

By

Life Insurance Calculator - How to Use PolicyMe's Life Insurance Checkup

Life Insurance Calculator - How to Use PolicyMe's Life Insurance Checkup

May 27, 2020

•

10 minutes

By

Term Life Insurance Quotes in Canada

Term Life Insurance Quotes in Canada

May 27, 2020

•

6 minutes

By

What’s Convertible Term Life Insurance?

What’s Convertible Term Life Insurance?

May 4, 2020

•

7 minutes

By

Do You Need Insurance With A Mortgage?

Do You Need Insurance With A Mortgage?

April 2, 2020

•

5 minutes

By

Who Needs Life Insurance?

Who Needs Life Insurance?

November 22, 2019

•

3 minutes

By

How Do I Choose A Life Insurance Company?

How Do I Choose A Life Insurance Company?

November 22, 2019

•

5 minutes

By

Canadian-Based Startup Introduces Digital Life Insurance Advice Offering

Canadian-Based Startup Introduces Digital Life Insurance Advice Offering

October 16, 2019

•

5 minutes

By

Do You Need Life Insurance?

Do You Need Life Insurance?

October 16, 2019

•

4 minutes

By

Should You Buy Term or Whole Life Insurance? Why Term Life Insurance Makes Sense For Most People

Should You Buy Term or Whole Life Insurance? Why Term Life Insurance Makes Sense For Most People

October 15, 2019

•

6 minutes

By

What Does Life Insurance Not Cover

What Does Life Insurance Not Cover

October 15, 2019

•

3 minutes

By

We're on a mission to put families first, protecting them with simple and affordable insurance.

Enter your email address

Thank you! Your submission has been received!

Oops! Something went wrong while submitting the form.

PolicyMe

Our Partners Press Mentions Blog Affiliate Program Contact Us Make A Claim Careers

Learn More

Life Insurance Quotes for Canadians What Is Life Insurance?How Much Does Life Insurance Cost?Best Life Insurance Companies

Privacy Policy Terms of Use

PolicyMe is a

technology company revolutionizing the life insurance industry.

© 2023, PolicyMe Corp. (FSRA #36783M) offers policies issued by Canadian Premier Life Insurance Company (a federally regulated and wholly-owned subsidiary of Securian Financial), Manufacturers Life Insurance Company, Canada Protection Plan, BMO Life Assurance Company and Wawanesa Life Insurance Company. PolicyMe is licensed to operate in: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Prince Edward Island, Nova Scotia, Yukon Territories, Northwest Territories & Nunavut. Note: Securian Financial is the marketing name for Securian Financial Group, Inc. and its affiliates. Insurance products are issued by its affiliated insurance companies.

Always refer to your insurance policy for information about your coverage, including applicable limitations and exclusions. In case of a discrepancy, your insurance policy prevails over general information available on this website or other print and digital media.

Pricing comparisons on this website or in other print and digital media are based on a review of current publicly available rates. Depending on your application details, actual pricing and savings may vary.

The time to obtain a recommendation, complete an application or obtain insurance is based on average customer experience. In some cases additional underwriting and medical exams may be necessary and require additional time. Coverage may not always be available.

PolicyMe headquarters are located at 60 Adelaide St E, Toronto, ON M5C 3E4, Canada.