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How Canada Life is supporting you during COVID-19. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

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Life insurance provides whomever you choose with a one-time, tax-free payment when you die, as long as you continue to pay your premiums.

There are different types of life insurance, and different ways to make it work for you. It’s not only to  protect your family. It can also be part of your financial plan, so you may be able to access money in your policy while you’re alive.

What kind of insurance do you need?
Term life insurance
Permanent life insurance

What does it provide?

Temporary protection

Long-term protection

How can it help?

  • Replace lost income
  • Cover debt and funeral expenses
  • Replace lost income
  • Cover debt and funeral expenses
  • Build wealth
  • Estate planning  

What's the cost?

Typically the most affordable type of insurance 

Usually more expensive than term life insurance

Investment options

No

Yes

Benefits

  • You choose who receives a tax-free one-time payment when you die
  • You choose who receives a tax-free one-time payment when you die
  • Build wealth inside your policy, within limits, that you can access during your life    
View term life insurance
View permanent life insurance

It depends on the type of coverage you choose. Generally, term insurance is more affordable than permanent insurance. But there are a lot of factors that determine the cost of your policy, including: 

Canada Life has been paying claims for 150 years. Work with one of our trusted advisors to help build a plan for you.