Canada Life Life Insurance: Coverage, Rates & Claim Denials

Canada Life Assurance Company is one of the largest and oldest insurance providers in the country, offering a range of life insurance options to help Canadians protect their families and financial futures. Whether you’re starting a family, buying a home, or planning your estate, Canada Life life insurance offers flexible coverage that addresses your needs.

But understanding your options – and your legal rights – is essential.

What Is Canada Life Life Insurance?

Life insurance from Canada Life provides your chosen beneficiaries with a one-time, tax-free payment when you pass away, as long as your policy is active and in good standing. This payment can help your family:

• Cover funeral costs
• Pay off remaining debts
• Replace lost income
• Preserve wealth for estate planning

Depending on your policy, you may also be able to access some of the funds while you’re still alive.

Types of Life Insurance Offered by Canada Life

Canada Life offers two main types of life insurance coverage:

1. Term Life Insurance

• Provides coverage for a set period (e.g., 10, 20, or 30 years)
• Lower initial cost
• Fixed premiums
• Option to convert to permanent insurance

2. Permanent Life Insurance

• Covers you for life
• More expensive than term
• May offer cash value or investment options
• Useful for long-term financial planning or wealth transfer

How Much Coverage Do You Need?

Choosing the right coverage depends on your financial situation and goals. Canada Life suggests considering:

• Your annual income
• Current and future debt
• Your dependants’ needs
• Existing insurance coverage
• Long-term estate planning goals

Not sure how much you need? A licensed advisor can help estimate your ideal policy based on your life stage and financial obligations.

Canada Life Rates: What Affects the Cost?

Your Canada Life insurance rates depend on a few key personal factors:

• Age: The younger you are, the cheaper the policy
• Health: Chronic illnesses, lifestyle risks, and medical history can increase premiums
• Gender: Statistically, women live longer than men – so they often pay less
• Occupation: High-risk jobs can result in higher premiums

Whether you’re comparing Canada Life rates or shopping for general Canadian life rates, it’s always wise to get a personalized quote from the life insurer.

How to Apply for Life Insurance with Canada Life

Applying for life insurance through Canada Life typically involves:

1. Initial consultation with a licensed advisor or broker (you can do this by accessing Canada Life’s website)
2. Choosing between term and permanent coverage
3. Completing a medical questionnaire – (choose the form that applies to you)
4. Undergoing a medical exam (depending on the policy amount)
5. Review and approval

Once approved, you’ll receive a policy document outlining the terms, conditions, and exclusions.

Common Legal Issues With Canada Life Life Insurance Claims

Unfortunately, not all Canada Life insurance claims are approved. Samfiru Tumarkin LLP has helped thousands of clients deal with delayed or denied life insurance payouts due to:

• Alleged non-disclosure of medical conditions
• Claims of policy lapse due to missed payments
• Disputes over beneficiary designation
• Issues surrounding suicide clauses or excluded causes of death

Canada Life Assurance Company has a legal obligation to process valid claims fairly and in good faith. If you’ve been denied a payout – or suspect bad faith – we can help.

How Our Lawyers Can Help

At Samfiru Tumarkin LLP, we understand the policies, procedures, and tactics insurers like Canada Life may use. Our life insurance lawyers help families across Canada:

• Challenge denied life insurance claims
• Navigate delays and stalled payments
• Interpret policy exclusions and fine print
• Pursue legal action when necessary

Don’t Accept a Denied Claim Without Legal Advice

If Canada Life has denied your life insurance claim, or you’re facing delays or confusing paperwork, don’t give up. You may still be entitled to a full payout – even if the insurer says otherwise.

Our firm has helped many people, like Florence Steele, resolve their life insurance disputes. We will review the facts of your case, tell you if you have legal grounds to challenge the denial, and advocate for the compensation your family is owed.

🟢 Watch our Global News interview with Sivan Tumarkin about Florence’s case below.

Why Canadians Trust Samfiru Tumarkin LLP

Contact the life insurance lawyers at Samfiru Tumarkin LLP today for a free consultation. We’ll explain your rights, challenge the denial, and work to recover the payout your loved ones deserve.

• ✔️ Over 50,000 clients helped across Canada
• ✔️ Millions recovered in insurance and disability benefits
• ✔️ No win, no fee option available (where applicable)
• ✔️ 3,000+ Google reviews
• ✔️ Named one of Canada’s Best Law Firms by The Globe and Mail