The Canada Life Assurance Company

Canada Life Insurance

For two centuries, Canada Life has been refining its underwriting techniques and constantly updating its personal and business lines for its clients. The company established its strengths based on its early life insurance products, but it has since developed complete lines of personal and commercial insurance that fit a variety of needs.

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Contact one of Mitchell & Whale's insurance brokers today to find out how we can meet your coverage needs with help from Canada Life: Speak with a broker today: 1-800-731-2228

Company Overview

In 2003, the company became part of the Great-West Life Assurance Company, which gave to Canada Life Insurance even more financial assets and talented underwriters. Consumers look to Canada Life Insurance for:

  • Insurance products that can be seamlessly integrated with investment options for added value
  • A company that has the financial stability to handle billions of dollars in claims every year
  • Access to international underwriting resources that can enhance any of the customized solutions the company wants to deliver
  • Insurance products to protect a consumer’s loans and even credit card accounts

Canada Life Insurance is a very versatile company and stands as one of the larger insurers in Canada. The company works through a network of brokers that are all given a large supply of resources to help craft custom solutions. The company works hard through its network of brokers to make sure that every client gets the solution they need for their particular situation.

Canada Life’s Advantages

Canada Life Insurance is a company that is interested in protecting clients for their entire lives, and not just for the duration of any specific project. Whether the company is writing commercial or personal products, the focus is on helping each client get the best possible value for the longest period of time. Some of the advantages of working with Canada Life Insurance include:

  • A Rich History – Normally, the history of an insurance company does not affect its contemporary clients. But the history of Canada Life Insurance is a story that has deep roots throughout all of Canada. From getting its start in iconic Canadian buildings to having founders associated with major historical breakthroughs in technology, Canada Life Insurance is a company that can say that it is truly a part of Canadian history.
  • Turnkey Financial Solutions – Canada Life Insurance has developed a line of whole life insurance products that can include a variety investment options to meet any clients’ needs. The investment portion of a Canada Life Insurance whole life policy is extremely flexible, which makes it one of the more powerful investment tools in the Canadian financial industry.
  • A Personal Corporation – Canada Life Insurance has products that are not just there to help a consumer with their finances, but also to help with their physical and mental well-being. Canada Life Insurance makes it a point to discuss how it not only helps the communities it serves in many ways, but also shows a level of compassion towards its customers that is unusual for such a large corporation.

Canada Life’s Insurance Products

Canada Life Insurance offers a very broad range of commercial and personal insurance lines that can be customized in a variety of different ways. The company also tries to add financial value for the client into its offerings every chance it gets.

Life Insurance

Life insurance products are the cornerstone of what Canada Life Insurance does.

Disability Insurance

Canada Life Insurance takes a very personal and hands-on approach to crafting disability insurance products that meet the needs of each client.

Critical Illness Insurance

It is impossible to predict when or if you will have a need for long-term medical care coverage. Canada Life Insurance makes sure that you have the coverage you need if one of those life-changing events ever happens.

Commercial Life Insurance

Canada Life Insurance offers all of its personal life insurance products for its commercial clients as well. With life insurance from Canada Life Insurance, your company can protect key employees, create a succession plan, and protect the business against the untimely death of a partner or owner.

Commercial Disability Insurance

Companies need disability insurance to protect their employees and ensure smooth business operations. Commercial disability insurance can also:

  • Attract new key employees
  • Cover expenses if a key employee is injured
  • Help ensure a smooth transition during the buyout process

Commercial Critical Illness Insurance

Critical illness insurance can help owners, partners, and employees to either overcome serious diseases and injuries, or provide financial assistance to help people get on with their lives after an injury or illness has occurred.

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Canada Life Insurance Quotes

Contact one of Mitchell & Whale's insurance brokers today to find out how we can meet your coverage needs with help from Canada Life: Speak with a broker today: 1-800-731-2228

Canada Life Insurance
Ontario Location:
330 University Avenue, Toronto, Ontario M5G 1R8, Canada
Claims: 888-252-1847

Canada Life Insurance Reviews

Rated 1 stars
1 / 5 (5)


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Stephen Robb
Rating: 1
1 /5 stars

Service in the Dark Ages

on 2021-06-07 17:54:02

I have unfortunately been called upon to claim group disability benefits twice because of separate health issues. Disability insurance is a critical financial security product intended to replace your income when you are disabled. But Canada Life doesn’t seem to understand that or care about their customer’s well-being. I dealt with a number of reps and, without exception, they lack any semblance of empathy and their sole purpose is to avoid paying benefits. In both cases, benefit payments were months behind; they continuously escalated demands to make it difficult to be paid; they lied to me; they didn’t understand their own product or the Statutory Conditions around them; and, they didn’t listen.

Canada Life has provided the worst possible service comparable to what I imagine it being in the Dark Ages. Very, very frustrating experience when you least need to be frustrated, that is, when you’re sick. It is beyond unconscionable to have the additional stress of Canada Life’s inability and unwillingness to meet their contractual obligations on top of serious illness. As it stands, I am being forced to sue them for both claims - and I will claim punitive damages for Canada Life’s bad faith behaviour toward me.

I STRONGLY suggest that you avoid purchasing Canada Life products; switch carriers if you are insured with them; and, most importantly, avoid their group insurance programs.

Canada Life is owned by Great-West Lifeco which is owned by Power Financial, the same company which owns Investors Group.

Rating: 1
1 /5 stars

on 2021-04-22 11:52:42

I pay high premium for family coverage however they only pay back 10% out of 80% coverage because of coordination of benefits, so having 2 insurances I pay out of pocket constantly. Estimate they sent (as primary) was 80% and with my coordianation was supposed to cover 100% of expense. However, after submitting claim, they only paid 10% and I had over $400 out of pocket expense. Total rip off of customer. As having coordination will only benefit your secondary insurance not you as a customer. You still pay out of pocket.

Rating: 1
1 /5 stars

The worst company ever

on 2021-03-30 15:57:27

They covered my medical expenses, then sent me a letter that I had to pay back.
The worst company ever

John F Baril
Rating: 1
1 /5 stars

worst company on the planet

on 2020-09-16 19:10:29

I have paid for monthly supplemental life insurance with them for 28 years. This month (Sept 2020) they suddenly raised my rate without notifying me. Now brace yourself - my monthly rate was raised from $62.26 to $478.19 And I am 61 years old and totally healthy. Can you believe it? Thanks for having my back Canada Life.

Rating: 1
1 /5 stars

Won't pay out legitimate claims

on 2020-02-13 09:14:58

I was insured though Great West-Life. I had prescription coverage. My partner has a neurological disorder and required non cosmetic botox. We filed the claim online and were informed that we required special permission from our doctor. We got the special paperwork filled out, received a letter confirming that it was now covered by Great West-Life, and refiled the paperwork. They again rejected it because the doctor used a generic version of the botox. This was clear on our initial claim. Our coverage finished and I spent hours on the phone trying to get them to honour the prescription. Their phone staff said they would call back but never did. They clearly just waited until my patience ran out. I would not recommend them.

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