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Compare life insurance companies

What's the best life insurance company for you? We've compared the top life insurance companies in Canada to help you find out.

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In many ways, your choice of life insurance company isn't all that important - at least when compared with other fincncial choices you'll make in your life. Each company manages risk in a similar way, and premiums are fairly consistent between each company. There is some variety however, as some life insurance companies are happier to take risky customers, and vice versa. A good rule of thumb is the company is less important than whether the product really suits your personal needs. Of course, not all companies offer the same products! That's why we've built this page. In our experience, finding the best life insurance is done by getting a range of quotes, from a range of companies. Our free tool can help you compare multiple quotes - give it a try it when you're ready.

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Sun Life Financial is one of the largest and oldest life insurance companies in the world. Founded in 1865, Sun Life is over 150 years old. When measured by premiums, Sun Life is Canada's largest life insurer, but has lower revenue than Manulife. Sun Life also has a significant local and international financial services arm, with operations in dozens of countries worldwide. Along with Manulife, Sun Life has the deepest product lineup of any Canadian life insurance company. Click here to learn more about Sun Life insurance.
Manulife (also known as Financière Manuvie) is one of the largest life insurance companies in Canada, founded in Ontario in 1887. It is the largest life insurance company when measured by revenue. Manulife has its Canadian headquarters in Toronto, Ontario. The company has a large financial services arm, with major operations across Asia. For Canadian life insurance companies, Manulife offers one of the most diverse product lineup of any life insurance company. The only company with a similar set of products is Sun Life. Click here to learn more about Manulife life insurance.
Great-West Life (Canada Life) is the third largest life insurance provider in Canada. It has historically been the parent company of other life insurance companies, including Canada Life, London Life Insurance Company, and Canada Life Financial. In early 2019, the company began a major rebrand, bring together each of its life insurance companies under the Canada Life brand. Of the 'big three' Canadian life insurance companies, Great West is the only one with headquarters outside Ontario, being operated from Winnipeg. As one of the big three Canadian life insurance companies, Great West Life's life insurance product offering it deep, with plenty of choices. However, it has a more limited product lineup than Sun Life and Manulife. Click here to learn more about Great West life insurance.
The Royal Bank of Canada, or RBC, is Canada’s largest bank by market capitalization - in fact, RBC ranks as Canada’s largest company by market cap. RBC offers life insurance through its insurance division, RBC Insurance, which it began in the 1960’s. With over 5 million clients across the country, RBC Insurance is the largest bank-owned insurance company, and has some of the most interesting products of any life insurance company. RBC's term insurance offering is particularly notable, as it's probably the most flexible term insurance available in Canada. Click here to learn more about RBC life insurance.
Toronto Dominion Bank, or TD Bank, is the largest bank in Canada by assets, and offers life insurance through the TD Insurance division. While the bank has a large presence in parts of the USA, its life insurance product is exclusive to Canada. Like the other banks, TD offers multiple life insurance products, including home insurance and car insurance. The TD life insurance offering is not small by any measure, but it's a good example of a no-frills life insurance company. Click here to learn more about TD Bank life insurance.
The Bank of Montreal, or BMO, is one of Canada's largest banks, and is an interesting player in the bank-owned life insurance market. After purchasing AIG's Canadian arm in 2009, BMO because the second largest bank-owned life insurance company - despite that, its life insurance product range is very limited compared to the other life insurance companies. Click here to learn more about BMO life insurance.
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