Get a Great-West Life Insurance Quote
Get a personal life insurance quote from Great-West Life and compare their rates against Canada's top providers.compare quotes today
Great-West Life insurance
Matt Hands, VP, Insurance and MoneySense
Great-West Life (Canada Life) is the third-largest life insurance company in Canada. It's the smallest of the big three Canadian insurance providers, behind Manulife and Sun Life. It’s currently rebranding as Canada Life, which brings together include Great-West Life, London Life Insurance Company, and Canada Life Financial.
A few things we're proud of
better choices made
to Canada’s top financial institutions
Great-West Life history
The earliest Great-West Life brand was the Canada Life Insurance Company, founded in Hamilton, Ontario in 1847, followed by London Life, which was founded in 1874. The Great-West Life Assurance Company was founded in Winnipeg in 1891, was the only Canadian life insurance provider based in Western Canada at the time. Great-West Life (Canada Life) is headquartered in Winnipeg, Manitoba.
Great-West Life insurance products
Great-West Life offers a large selection of life insurance products, including term life insurance, participating life insurance, and universal life insurance.
Great-West term life insurance is available in 10 or 20 year terms, renewable until age 85. Term life insurance policies may also be convertible to permanent life insurance at the end of each term.
Participating life insurance from Great-West is a standard, participating life insurance policy, with increasing, set, or limited payment options available. Great-West doesn’t offer non-participating whole life insurance.
Great-West universal life insurance combines permanent life insurance with a tax-advantaged investment account, and provides the most flexibility possible on a permanent life insurance policy. Both set and limited payment options are available.
Great-West life insurance also offers life insurance-adjacent products, including disability insurance and critical illness insurance. These can be purchased alongside a life insurance policy or separately. Great-West critical illness insurance also offers a return of premium options, returning up to 100% of premiums to you if you don’t make a claim.
Compare quotes today
Life insurance is individually specific, and you won't know what policies and rates you're eligible for until you receive multiple quotes. Receive quotes today to make the right decision when you're ready.compare quotes today
Pros and cons of Great-West Life insurance
Great-West life insurance pros
- Like the other big three life insurance companies, Great-West Life (Canada Life) has a highly sophisticated options for permanent life insurance.
- Offers critical Illness coverage with a return of premium option
Great-West life insurance cons
- Being the smallest of the big three Canadian life insurance companies, Great-West has less product variety compared to Sun Life and Manulife
- Does not offer a non-participating whole life insurance policy
- Does not offer a Term-to-100 life insurance policy
Great-West Life credit ratings
Great-West Life (Canada Life) has received excellent ratings from all of the major credit ratings agencies:
- Standard and Poor’s: AA (Very strong)
- Moody’s: AA3 (High quality)
- A.M. Best: A+ (Superior)
- DBRS: AA (Excellent)
Ratehub.ca is not affiliated or otherwise associated with Hub International Canada.
Questions about Great-West Life insurance
Can Great-West Life cancel your life insurance?
How do I cancel my Great-West Life insurance?
Is Great-West Life insurance good?
Matt Hands, Business Director of Insurance
With 6+ years of experience at Ratehub.ca, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read full bio
The knowledge bank
A wealth of knowledge delivered right to your inbox.
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.