What Is the Best Life Insurance Quote In Canada?

Life insurance is one of the most critical aspects of managing personal finances, more so if you have a family that is dependent on you for monetary support. A good life insurance policy is a proactive measure of protecting your inheritor and your estate.


The two main types of life insurance in Canada are term life insurance and permanent life insurance. The total payment or death benefit paid to beneficiaries of the insured is tax-free and can be used in any manner they deem right.


Factors to evaluate Canadian life insurance providers

When evaluating various insurance policies or considering one, it’s better to be on the lookout for these factors that can help you evaluate the benefits:


  • Price- How much will you have to pay?
  • Time- How long will it take to get approved?
  • Process- Can you do the entire process online or will it require multiple visits to the office?
  • Trustworthiness- Evaluate the market presence of the company and go through customer reviews to get an idea of the complete picture.
  • Coverage- Does the company only offer small payouts or are the options to get over $1 million in coverage?

 


 

Best life insurance companies in Canada compared


PolicyMe

The data-driven underwriting process of PolicyMe ensures you the best price without unnecessary medical exams, interviews or paperwork. People applying for new policies can expect 10-20% cheaper premiums, compared to the rest of the industry.


Price- For a 35-year-old woman, life insurance at PolicyMe costs $23.44/month. For a 35-year-old man, it is $31.29/month.

eINSURED

With optimum service and policies tailored according to your needs, eINSURED provides good life insurance policies that fit various types of individuals. The rates are affordable and the process is simple with no hassle. The company provides an option to compare quotes and have impeccable customer service. The coverage amount can extend beyond $1 million. Price- For a 35-year-old male, it averages at around $56/ month.



Sun Life Financial Life Insurance

They provide a range of different term life products that fit everyone’s needs. The simplest plan has fixed coverage, eliminating the guesswork out of the amounts needed. However, their customer service could be improved to provide better overall service. Price- $29-$41/ month for a man.


While choosing a life insurance plan that will last for decades, it is advisable that you thoroughly compare all the options available and then proceed to make a decision.

Location: 100 King St W #5600, Toronto, ON M5X 1A9, Canada

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