Insurance Companies in Canada

Canadian Life Insurance: Details

Assumption Life
Assumption Life, founded in 1903, is a Moncton-based, mid-size Life and Living Benefits provider. Assumption Life is one of the very few mutual companies, i.e. owned by the policyholders, with a good product mix of life, critical illness, group benefits, and investment products. It is one of the very few companies offering coverage for up to and including age 85.
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Blue Cross
The Canadian Association of Blue Cross Plans represents the seven independent Blue Cross member plans operating in regions across the country. The Blue Cross members are focused on travel, health and dental plans, and group benefit plans.
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BMO Life Assurance Company
BMO Insurance is a bank-based insurance provider (Bank of Montreal). It was founded in June 2009 with BMO purchased AIG Life Insurance Company of Canada (AIG Life of Canada). It offers a broad range of life and critical illness insurance products.
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Direct (online or contact centre)

Canada Life Insurance Company of Canada
Canada Life has merged with two other brands: Great-West Life and London Life and currently operates under one single brand of Canada Life offering a very wide range of life and living benefits products. It is one of three, by far, the largest life insurance companies in Canada. Its disability product is particularly robust with a unique feature, Lifetime Benefit.
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Canada Protection Plan
Founded in 1992, Canada Protection Plan is focused on no medical life insurance and is known as a third party administrator, i.e. they use Foresters as their underwriting insurance company, so a Canada Protection Plan policy is issued by Foresters. On Oct. 2, 2020, it was announced that Canada Protection Plan and Foresters would be merging under the brand of Canada Protection Plan, A Foresters Financial Company.
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Co-operators Life Insurance Company
Co-operators Life Insurance began as a cooperative for prairie farmers in 1945. Today, the company offers life insurance, group insurance, and wealth management products as well as property and casualty products. The Co-operators Group Limited owns several entities, including Co-operators Life Insurance Co., Co-operators General Insurance Co., CUMIS, Edge Benefits Inc., Sovereign Insurance & Premier Group of companies, and others.
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Desjardins Financial Security Life Insurance
Desjardins Insurance is a Quebec-based company (a subsidiary of Desjardins Group) offering life, disability, critical illness, and group benefits, plus auto, home, travel, pet insurance through their property and casualty division. They also offer a wide array of investment products. In 2018, Desjardins Group acquired State Farm Canada and integrated them under the Desjardins brand name.
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Direct (online or contact centre)

Empire Life Insurance Company
Empire Life is a Kingston-based, mid-size Life and Living Benefits provider offering a wide range of Life and Living Benefits. It also provides guaranteed issue plans for the hard to insure Canadians. Founded in 1923, and since then, merged with several other companies, and in 1968 became the operating company of Empire Life Financial Corp. as the holding company.
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Equitable Life Insurance
Started in 1920, and is one of the very few mutual insurance companies (i.e. owned by the policyholders) left in Canada. They offer typical life insurance products, e.g. term, whole, and universal life, and critical illness insurance. They also offer group benefit plans. They are particularly competitive in the whole life market.
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FaithLife Financial
FaithLife Financial is a smaller Life Insurance company located in Waterloo, ON, renamed in 2008. It has been set up as a fraternal benefits society (originating from the US). Their customer segment is defined as Canadians with Christian values, and they require their representatives to have those values as well.
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Foresters Canada
Foresters Financial is a fraternal organization, founded in 1874, owned by The Independent Order of Foresters (a fraternal benefit society). Foresters offer a wide range of products including life insurance, critical illness insurance, and, with their merger with Canadian Protection Plan, numerous simplified issue plans.
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Great-West Life Assurance Company
Great-West Life has merged with two other brands: Canada Life and London Life and currently operates under one single brand Canada Life offering a very wide range of individual and group life and living benefits products. Canada Life is one of three, by far, the largest life insurance companies in Canada. Canada Life is a strong leader in long-term disability plans offering some unique features.
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Humania Assurance
Humania was found as The Union Saint-Joseph (L’Union Saint-Joseph de Saint-Hyacinthe) in 1874. In 2012, the rebranded company became Humania Assurance. It offers life, critical illness, health, and disability insurance products.
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Direct (online or contact centre)

Hunter McCorquodale Inc.
Established in 1997, the company’s focus from the beginning was the underwriting of special risk life, accident, and health products that other traditional insurers do not offer. For an application that is out of the ordinary, it is definitely worth asking a broker to consider them.
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IA Excellence Life Insurance Company
Effective January 1, 2020, iA Excellence has merged with its current parent company Industrial Alliance Insurance and Financial Services Inc. under the iA Financial Group brand.
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Industrial Alliance Financial Group
Industrial Alliance (iA) was founded in 1887, based in Quebec, and rebranded as Industrial Alliance Financial Group in 2015. They offer individual life insurance, group insurance, individual wealth management, and group savings and retirement plans. iA acquired Hollis Wealth Management in 2017. They are one of a very few insurers offering a decreasing term plan.
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Ivari
Transamerica has been initially an arm of American Transamerica insurance company but has been acquired by Wilton Re, a reinsurance company, and rebranded as Ivari being located in North York, Ontario. They offer several term and universal life plans, critical illness insurance, plus investment products. The company also has a solution for otherwise uninsurable children.
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La Capitale Life Insurance
La Capitale was founded in 1940 headquartered in Quebec City and has its origins in a mutual fund. In 2020 La Capitale has merged with La Capitale forming one of the largest Quebec-based insurance companies and offering both Property and Casualty and Life Insurance products.
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Direct (online or contact centre)

London Life Insurance Company
London Life has merged with two other brands: Great-West Life and London Life. It currently operates under one single brand Canada Life offering a very wide range of life and living benefits products. Canada Life is one of three, by far, the largest life insurance companies in Canada.
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Manulife Financial
Manulife offers a vast array of life and living benefits products and underwrites products of many other companies. It is one of three, by far, the largest life insurance companies in Canada and one of the largest financial services organizations in North America including its subsidiary, John Hancock.
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Medavie Blue Cross
Medavie Blue Cross is a Moncton-based, mid-size Life and Living Benefits provider that is primarily focused on Group Insurance. The company also administers various government-sponsored health programs on behalf of provincial and federal governments. It is a not-for-profit organization that is a member of the Canadian Association of Blue Cross plans.
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Primerica Life Insurance Company
Primerica is a part of a North American company Primerica which is widely known for offering exclusively Term Life Insurance products only. It operates through a network of agents who are often part-time sales force. They also do recruit new agents through their sales efforts as well as public seminars.
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RBC Insurance
Get an RBC Life Insurance quote and compare it with other providers. See our expert’s perspective on this life insurance company and its products.
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Direct (online or contact centre)

Reliable Life Insurance Company
Reliable Life Insurance Company (focus name since 1943) has been in business along with a sister company, Old Republic Insurance Company. Their focus is on niche insurance, custom, and private label products.
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ScotiaLife Financial
ScotiaLife Financial is a bank-based insurance provider (Scotiabank). It offers a range of relatively simple life and living benefits products. Some of their products, e.g. Accidental Death Insurance, are underwritten by other providers such as Chubb Life Insurance Company of Canada.
Direct (online or contact centre)

SSQ Life Insurance Company Inc. (Formerly AXA Life Insurance Inc.)
SSQ Insurance was founded in 1944, headquartered in Quebec City. In 2020 SSQ Insurance has merged with La Capitale forming one of the largest Quebec-based insurance companies and offering both Property and Casualty and Life Insurance products.
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Standard Life Assurance Company
Standard Life was a company offering an array of insurance, investment, retirement, and financial protection products. In 2015, it was acquired by Manulife, one of three, by far, the largest life insurance companies in Canada.
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Sun Life Assurance Company of Canada
Sun Life offers a vast array of life and living benefits products and underwrites products of many other companies. In the past, it acquired several insurance companies, e.g. Clarica Insurance in 2002. Sun Life is one of three, by far, the largest life insurance companies in Canada.
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UV Insurance
UV Insurance (formerly UL Mutual Company) is a Drummondville, QC based company, formed 130 years ago. It offers individual insurance, group insurance, and investment, and retirement products. It offers both term and permanent life insurance, and critical illness coverage.
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Wawanesa Life Insurance Company
Founded in Manitoba in 1896, created by and for farmers. Wawanesa began selling life insurance in 1961. It offers a broad product range, including term and whole life plans, instant issue life, and quick issue critical illness insurance. Wawanesa Insurance also sells numerous property and casualty products.
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