Manulife CoverMe Life Insurance rating and review

Manulife CoverMe term life insurance is one of the insurance giants few products that can be purchased fully online. While the name recognition that comes with being a global brand synonymous with financial protection is attractive, potential insurance seekers can be better served by other choices in digital life insurance fulfillment. As it stands, CoverMe is more expensive than many of its market alternatives and offers little to no options for longer terms, larger death benefits, riders, and other aspects of a modern life insurance policy.

We would recommend choosing one of the many other insurers in the market at this point in time, given the potential to obtain lower prices and access a wider spectrum of features and optional benefits. Use PolicyAdvisor’s quoting tool to find the right coverage through several competitive quotes from Canada’s best life insurance companies.

Manulife CoverMe Life Insurance pros and cons

Pros

• Direct to consumer: customers can purchase their term life insurance plans online
• Digital e-policy
• Name recognition: Manulife is Canada’s largest life insurance company and offers a product you can trust
• Convertible to another Manulife permanent life insurance plan without medical underwriting

Types of term life insurance Manulife CoverMe offers

 CoverMe is targeted at those purchasing their first term life policy due to a life event (such as buying a house, getting married, or starting a family). CoverMe’s Term Life Insurance plan is the main offering.

• Canadian residents between the ages of 18 and 70 are eligible to apply. The coverage amount ranges from $100,000 to $1,000,000 and is only available in 10-year terms. It is renewable at the end of each term – with no additional medical underwriting requirement – until the age of 85.
• Only one additional benefit is available: the Terminal Illness Benefit. It provides up to 50% of the coverage amount (with a maximum of $100,000) as a one-time cash advance if you are diagnosed with a terminally illness and have only 12 months or less to live.
• Applicants between the ages of 18 and 55 are eligible for up to $250,000 in instant coverage without the need for a medical exam.
• CoverMe is more expensive than Manulife’s other term life insurance products. (For example, for a 35-year-old male, a $500,000, 10-year policy would carry a $42.00 monthly premium through CoverMe. Comparatively, that same policy would cost $26.68 through Manulife Family term).

Apart from CoverMe Term Life Insurance itself, Manulife offers 3 other life insurance products on the CoverMe platform:

CoverMe Easy Issue Life Insurance

This is a simple and quick issue insurance plan which provides a basic level of life insurance coverage. 

• There is no medical exam – you are instead required to answer two medical questions 
• Each term lasts 10 years and you can renew till the age of 65 
• There are only two benefit amounts: $50,000 and $75,000

CoverMe Guaranteed Issue Life Insurance

This is an affordable product which provides basic coverage without any medical exam or medical questions. 

• Acceptance is guaranteed. 
• Premiums are guaranteed for life
• Only available between ages 40 and 75 
• The death benefit ranges from $5,000 to $25,000 
• This is a permanent life insurance plan

FollowMe Life Insurance

This insurance plan is designed for those who lose their workplace group life insurance coverage and offers them uninterrupted coverage at an affordable price.

• Matches the coverage one had in their group plan for themselves and their spouse (provided they were also covered in your group plan). 
• One must apply within 60 days of their group coverage ending. 
• This is a no-medical guaranteed acceptance product. 
• Coverage remains if the policyholder retires or moves to another job, or even if their health situation changes.

Apart from those under the CoverMe umbrella, Manulife has a few other term life products (not available online):

• Family Term: This is Manulife’s flagship term life insurance product, offering coverage ranging from $250,000 to $25,000,000. It is available in terms of 10 or 20 years or until age 65. It’s also automatically eligible for Vitality Go, an innovative new program that rewards a healthy lifestyl.e 
• Family Term with Vitality Plus: This is similar to the Vitality Go initiative, but it’s only available for select policies. It boasts of more exclusive rewards than the standard Vitality Go, but also has more penalties. (Read our full Manulife Vitality Term Life Insurance Review.)
• Business Term: An affordable, flexible policy for business protection: It includes key person protection, buy-sell funding, estate tax coverage, and business collateral insurance.
• Quick Issue Term: No-medical life insurance. It offers completely electronic paperwork and a fast approval process. It is similar to CoverMe Easy Issue.

Coverage and policy details

• Available Term Lengths: 10 years
• Available Term Types: Level guaranteed term
• Maximum Amount of Coverage: $1 million
• Renewability: Yes, renewable every 10 years up to the age of 85
• Convertibility: Eligible for conversion to permanent life insurance within a certain period

What other insurance policies does Manulife CoverMe offer?

• CoverMe Travel Insurance for travelling Canadians, visitors to Canada, and students
• CoverMe Flexcare Plans and FollowMe Plans for Health Insurance
• CoverMe Critical Illness

Manulife itself offers a huge range of other types of insurance outside the CoverMe brand, including:

• Permanent/Whole Life Insurance
• Critical Illness Insurance
• Long Term Care
  
• Disability Insurance
• Personal Accident Insurance
  
• Travel Insurance
  
• Health and Dental  Insurance
  
• Group Plans
• Investment Plans (including RRSPs and TFSAs)

Is Manulife’s CoverMe Insurance right for you?

While Manulife Cover Me offers name recognition and basic life insurance coverage products that are a fit for many Canadian consumers  – there may be better options, especially with digital fulfillment. As insurance advisors for multiple life insurance companies and products, we can help you decide if Manulife’s CoverMe products are the best fit for you or if another provider can meet your needs.

As Canada’s best online life insurance advisor, we will assist you in comparing and choosing products across all our partner companies. Speak to our licensed advisors and we will be able to assist you in finding you the best coverage for your needs.

Who is Beneva?

Beneva is one of the largest insurance companies in Canada. It was only just announced in 2020, making its name fairly new to the Canadian insurance industry. But it is the product of a merger between two well-established life insurance companies founded in Quebec in the 1940s — SSQ Insurance and La Capitale.

Read more about what happened to SSQ and what happened to La Capitale. 

With the combined financial strength and assets of both groups, Beneva is now the 6th largest life insurance company in Canada and one of the biggest insurance mutuals.

As was the case for SSQ Insurance and La Capitale, Beneva is a mutualist organization. This means all policyholders can become co-owners and actively participate in the business direction of Beneva as it strives to adhere to its values of solidarity, equity, responsibility and equality.

Types of critical illness insurance policies Beneva offers

Beneva does offer critical illness insurance coverage for 3 conditions (basic coverage) and 25 conditions (enhanced coverage). It also offers coverage for dependent children.

Coverage and policy details

Beneva’s maximum coverage for critical illness insurance is $2 million.

They offer coverage for loss of independent existence as part of their enhanced coverage. They offer partial payouts, but for only 4 different conditions. The payout is typically 10% of the policy, up to $50,000.

Beneva also offers coverage for 3 additional childhood illnesses.

The survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.

Beneva offers critical illness insurance for 10-year and 20-year term insurance or coverage, up to 75 or 100 years of age.

Limited-pay options are available; a 20 Pay option is available for permanent policies.

Does Beneva’s critical illness insurance offer return of premiums?

Yes, Beneva offers return of premiums on death, and a few different options for return of premium on expiry or cancellation after 20 years or when the policyholder turns 55.

Beneva’s return of premium on expiry is available with Term-10, Term-20, and Term to 75 policies.

Its return of premium on cancellation is available with Term to 75 and Term to 100 policies, and also Term to 100 policies with paid-up 20-year plans.

How do I apply for Beneva’s critical illness insurance?

You can apply for Beneva’s critical illness insurance using the best online life insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed advisors to apply for Beneva’s critical illness insurance, or to find out which critical illness insurance options would be best for you. 

Pros and cons

Pros

• Discounts for bundling services
• Comprehensive conditions covered (25 full payout illnesses)
• Children’s coverage available
• Online account access
• Digital e-policy

Cons

• No limited pay options
• No second option
• No permanent coverage

SSQ life insurance rating and review

SSQ Life Insurance’s flagship Term Plus product is a multi-purpose product that offers life coverage in addition to unique built-in features and customizable options that can comprehensively protect you against life’s biggest risks.  The Term Plus product can be combined with an optional disability and critical illness coverage, allowing for a robust combo product solution from SSQ Life Insurance Company Inc. (now operating as Beneva).

On a stand-alone basis, SSQ Life Insurance Term Plus offers a number of terms (including a 40-year term, advantageous for business owners). SSQ Life Insurance also offers an excellent exchange program; you are able to exchange your original term life policies for a higher term without evidence of insurability.

However, such an exchange must be done between the first and fifth anniversaries of the policy. The built-in guaranteed insurability benefit allows you to increase coverage by up to 25% (or $100,000) to meet any increasing needs for protection in the future.

The SSQ Life Insurance underwriting process is quick and easy with simplified life insurance options. There is no medical exam for coverage of less than $500,000 if you are between ages 18-45.

A SSQ Life Insurance plan also offers a built-in and one of its kind  Extreme Disability Benefit, allowing you to obtain an advance payment of 50% of the life insurance amount, up to $250,000 in the event of extreme disability.

In addition to the traditional level coverage, SSQ Life Insurance also offers a decreasing term insurance product, which is best suited for covering mortgage or loan liabilities.

SSQ Life Insurance also offers an automatic approval of $20,000 in affordable critical illness coverage to those with good health, with no medical exam. It’s a great option for those considering a critical illness rider. However, the critical illness cover is limited to 3 diseases, which explains its lower price.

SSQ Life insurance pros and cons

SSQ life insurance pros

• A built-in Extreme Disability Benefit is unique in the industry
• Options to add critical illness and monthly disability indemnity make for a comprehensive financial protection solution
• Several optional riders including accidental death and dismemberment and child rider
• Preferred rates available starting at $1,000,000
• No medical exam for policies with death benefit below $500,000
• Online services and account access
• Digital e-policy

SSQ life insurance cons

• Longer turnaround times for policy approval

Who is the SSQ Insurance Company?

SSQ Insurance Company Inc was a relatively young financial services institution, having started in 1944 in Quebec. The company was founded on mutualist values; all policyholders were able to become co-owners and actively participate in the business direction of SSQ Life Insurance as it strove to adhere to its values of solidarity, equity, responsibility and equality.

The company’s strong financial and capital position was bolstered by the majority ownership vested with Quebec’s labor federation, FTQ’s solidarity fund. While the company has been a leader in group insurance for several decades, it built its individual life insurance business after acquiring AXA’s individual life insurance business Canada in 1992.

In 2020, SSQ Life Insurance Company Inc and Québec-based insurance provider La Capitale announced a merger of their businesses. As of January 2023, they are operating under Beneva Insurance, still with the mutualist values of the two companies that formed its roots. The merger creates the largest mutual insurance company in Canada with significant scale and market access. (Read more about what happened to SSQ Insurance.)

Key facts about SSQ Life Insurance

• Founded: 1944
• Headquarters: Québec City, Québec
• AM Best Rating: A-
• Better Business Bureau Accreditation and Rating: No / —
• Assets: $12.4-billion
• Annual Premiums: $2.5-billion

How much does life insurance from SSQ Insurance cost?

Representative values. Insurance premium based on non-smokers in good health. $500,000 life insurance benefit coverage, 20-year term.

What types of term life insurance policies does SSQ Insurance offer?

As described above, SSQ Insurance offers term life insurance options to customize coverage.

Term Plus

• Designed for income replacement, estate planning, and covering personal and business debts
• Large variety of term lengths available
• Renewable and convertible
• Many in-built enhancements, optional riders, and add-ons available for children’s insurance, disability, critical illness, and other coverage
• Preferred rates available for healthier applicants
• Accepts applicants who are non-residents 
• Guaranteed premiums

Coverage and policy details

• Available Term Lengths: 10, 15, 20, 25, 30, 35 or 40 years
• Available Term Types: Level or decreasing available
• Maximum Amount of Coverage: $10,000,000
• Renewability: Yes. Renewable every 5 years after the initial term, up to age 85
• Convertibility: Yes. Convertible to SSQ permanent life insurance, up to age 70

What other insurance policies does SSQ Insurance offer?

SSQ Insurance offers a wide range of insurance products and other types of life insurance to customers such as:

SSQ permanent life insurance

Permanent life insurance provides you with coverage from the day the policy is settled until the day you die. Premiums are level and guaranteed, and as long as you keep paying the premiums the coverage never expires. SSQ offers two different permanent life insurance policy options: non-participating and universal.

Non-Participating Whole Life Insurance

SSQ offers non-participating whole life insurance with its Whole Life 20, Whole Life 100, and Term 100 policies. All policies give the choice of having a cash surrender value that increases over time and adding other coverages like life insurance for your children or critical illness coverage. Whole Life 20 has a 20-pay option; premiums for Whole Life 100 and Term 100 are paid until the person insured is 100 years old.

Universal Life Insurance

Universal life insurance is like whole life insurance, except there is a self-directed long term investment component: your insurer gives you options for investing the cash value of your policy.

Universal Life Insurance under SSQ is easy to understand. The plan is offering maximum flexibility to the policyholders. You can even add complementary insurance along with the Universal Life Insurance plan. You may also make changes during the policy. The features of the policy are mentioned below.

• You receive a 1% guaranteed bonus depending on the accumulated value
• The plan is renewable
• You don’t have to pay surrender charges
• The plan offers flexibility for insuring family members at no additional rate
• The interest investment options for this plan are 1, 3, 5, and 10 years

SSQ Critical Illness Insurance

Critical illness insurance is a living benefit insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event (like breast cancer, prostate cancer, skin cancer, heart attack, and coronary angioplasty), or undergo treatment while under its coverage, after a minimum of 30 days from when you are first diagnosed (90 days for cancer). This coverage is available for a period of time also known as term length; and you determine it when purchasing the policy.

SSQ offers critical illness insurance for adults and children through several policy options:

• Basic (3 conditions), enhanced (25 conditions) and child (28 conditions) plans offered
• Coverage available for dependant children
• Partial payouts available.
• Maximum coverage is $2 million.
• This plan’s range is 10 years, 20 years, and up to 75 or 100 years of age.
• The plan also includes psychological assistance and a second medical opinion.
• Return of premium on death, expiry, and cancellation available.
• Survival period is 30 days.

For more information and an in-depth look at their critical illness coverage, read our SSQ Critical Illness Insurance Review.

SSQ Travel Insurance

SSQ is offering insurance for extended and short stays. Their insurance coverage is all-inclusive: from baggage to cancellation and everything in between is covered. If you travel multiple times throughout the year, you can even consider opting for their annual multi-trip insurance.

SSQ Home Insurance

SSQ also provides home insurance for Canadians. You can save up to 20% on your premiums by combining home and auto insurance. Discounts are also offered for Canadian homeowners who install security systems.

Whether from theft or accidents and disasters, SSQ will cover your home. SSQ offers home insurance coverage for apartments, condo units, and freestanding residential property.

SSQ Auto Insurance

SSQ also offers insurance for your wheels. SSQ also allows for flexible and easy cancellations online. The premiums depend upon the kilometres you drive. Also, many of their plans include 24-hour roadside assistance.

SSQ Loan Insurance

SSQ offers comprehensive loan insurance. Policyholders can get a monthly amount to assist in paying the loan premiums should something affect their ability to earn and pay bills. SSQ loan insurance is renewable and convertible and you can combine it with more of SSQ’s insurance products.

SSQ Group Insurance

SSQ Insurance also offers group insurance services for businesses and companies and their individual employees. Through SSQ Group Insurance, members can get coverage for Health Insurance, Prescription Drug Insurance, Disability Insurance, Life Insurance, Dental Care Insurance, Health Spending Accounts, Travel Insurance, and more. SSQ’s group insurance portal makes filing claims online easy, and claims are usually settled within 48 hours.

SSQ also offers specialized and custom group insurance plans that can cover Accidental Death and Dismemberment, Critical Illness, Insurance for Expatriates, Retirement or End of Employment coverage, Employee Assistance Programs (EAP), and general health and wellness programs for members.

Besides insurance, SSQ offers many personal finance and investment products.

Is SSQ life insurance right for me?

SSQ Insurance offers unique term life insurance coverage products that are a great fit for many Canadian consumers. As insurance advisors for SSQ Insurance products, we can help you decide if they are the best fit for you and find you SSQ Insurance quotes.

As Canada’s best online life insurance brokerage, we will assist you in comparing and choosing a life insurance policy across all our partner companies and help you make an informed decision. Speak to our licensed advisors to complete your financial security plan. We can assist you in finding you the best, most affordable coverage for the insurance amounts you need. You can do this all from the comfort of your own home (no processing of mail or postal services necessary) and cut down on face-to-face interactions in this unprecedented time.

How do I apply for a term life policy with SSQ Insurance?

You can apply for SSQ Life Insurance’s plans by using the best online insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for SSQ Life Insurance or get an instant quote.

Who is SSQ?

SSQ was one of Canada’s youngest insurance companies, having started in 1944 in Quebec. The company was founded on mutualist values; all policyholders were able to become co-owners and actively participate in the business direction of SSQ as it strove to adhere to its values of solidarity, equity, responsibility and equality.

In 2020, SSQ Life Insurance Company Inc and Québec-based insurance provider La Capitale announced a merger of their businesses. As of January 2023, they are operating under Beneva Insurance, still with the mutualist values of the two companies that formed its roots. The merger creates the largest mutual insurance company in Canada with significant scale and market access.

Read more about what happened to SSQ Insurance.

Types of critical illness insurance policies SSQ offers

Yes, SSQ does sell critical illness insurance. They offer basic (3 conditions) and enhanced (25 conditions) plans, as well as coverage for dependent children.

Coverage and policy details

SSQ’s maximum coverage for critical illness insurance is $2-million. 

They offer coverage for loss of independent existence as an additional rider. They offer partial payouts, but for only 4 different conditions. The payout is typically 10% of the policy up to $50,000.

SSQ also offers coverage for 3 additional childhood illnesses.

The survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.

SSQ offers critical illness insurance for 10- and 20-year terms or coverage up to 75 or 100 years of age.

Limited-pay options are available; a 20 Pay option is available for permanent policies.

Does SSQ’s critical illness insurance offer return of premiums?

Yes, SSQ offers return of premiums on death, and they offer return of premium on expiry or cancellation of the policy after 20 years or when the policyholder turns 55.

How do I apply for SSQ’s critical illness insurance?

You can apply for SSQ’s critical illness insurance using the best online life insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for SSQ’s critical illness insurance.

What is La Capitale insurance?

La Capitale is a Canadian insurance provider that offers a range of life insurance products, including term life, whole life, and universal life insurance. Later, La Capitale merged with SSQ Insurance in 2020 to form Beneva Inc. 

Despite the rebranding, La Capitale’s life insurance policies continue to provide financial protection for individuals, families, and business owners. The payout can cover final expenses, replace lost income, and ensure financial security for beneficiaries. 

Key facts about La Capitale Life Insurance

• Founded: 1940
• Headquarters: Québec City, Québec
• AM Best Rating: —
• Better Business Bureau Accreditation and Rating: No / —
• Assets: $25 billion (2020) under Beneva
• Annual Premiums: $6 billion (2020) under Beneva 
• Annual Premiums: $2.5-billion

La Capitale life insurance rating and review

La Capitale’s flagship product is their Enhanced term insurance, which automatically includes a Loss of Autonomy benefit and coverage for estate fees up to $1000 (Quebec only). This product is renewable and convertible and can be combined with Beneva’s full suite of insurance products such as critical illness insurance, disability insurance, and other savings and investment products. 

La Capitale also offers a more basic term life insurance product, known as their “Pure” series product line. This term life insurance offers similar coverage amounts and convertibility compared with the Enhanced series but is a little cheaper as it does not come with the Loss of Autonomy or Succession Advantage benefit. 

La Capitale also offers simplified and no-medical life insurance products, meaning no medical exam is required. For their simplified life insurance product, known as “Simplified Advantage,” coverage is available up to $100,000.

You can apply for their no-medical product, called “Affirmative,” after answering only four qualifying questions—but, their no-medical coverage is only up to $25,000. Notably, La Capitale only offers permanent simplified and no-medical life insurance, meaning term options are not available for these products.

Since the merger with SSQ under the new name Beneva, those looking to apply for La Capitale life insurance can do so through a quick online process.

What are the pros and cons of La Capitale life insurance?

La Capitale has several pros such as a strong financial background, a wide range of products with various customization options, estate fee coverage, and more. However, there are certain disadvantages in terms of limitations in simplified coverage and no-medical coverage.

Pros of La Capitale life insurance

• Strong financial stability: Backed by the merger with SSQ under the Beneva brand, ensuring long-term reliability
• Comprehensive policy customization: Offers multiple optional riders, including children’s term insurance and critical illness coverage
• Built-in Loss of Autonomy benefit: Included with enhanced products, providing additional financial support in case of loss of independence
• Estate legal fee coverage: Covers up to $1,000 in legal expenses for estate settlement 
• Convenient digital access: Provides online account management, e-policy services, and seamless digital access for policyholders

Cons of La Capitale life insurance

• Limited simplified coverage: La Capitale’s coverage is capped at $50,000 for applicants over age 71, which may be insufficient for some needs
• Restricted no-medical coverage: Maximum coverage for no-medical exam policies is limited to $25,000, which may not provide adequate financial protection

What term life insurance amounts and coverage do La Capitale and Beneva offer?

La Capitale offers a variety of term insurance products including the Enhanced Fixed Term, Pure Fixed Term, Enhanced Decreasing Term, as well as a variety of life insurance riders. 

Pure Series Term Insurance

• Straight-forward, basic term insurance product designed for income replacement, estate planning, and covering personal and business debts
• Option to exchange the contract term for a longer term during the first 5 years, without evidence of insurability

Coverage and policy details

• Available Term Lengths: 10, 20, 25, 30, or 35 years
• Available Term Types: Level or decreasing 
• Maximum Amount of Coverage: $5,000,000
• Renewability: Yes. Renewable as 10-year term to age 85
• Convertibility: Yes. Convertible to up to age 70

Enhanced Series Term Insurance

• Flexible term insurance product designed for income replacement, estate planning, and covering personal and business debts
• Option to exchange the contract term for a longer term during the first 5 years, without evidence of insurability
• Total loss of autonomy benefit built-in
• Succession advantage included (up to $1000 to cover reimbursement of estate fees, Quebec only)

Coverage and policy details 

• Available Term Lengths: 10, 20, 25, 30, or 35 years
• Available Term Types: Level or decreasing
• Maximum Amount of Coverage: $5,000,000
• Renewability: Yes. Renewable as 10-year term to age 85
• Convertibility: Yes. Convertible to up to age 70

What other insurance coverage does La Capitale under Beneva offer?

La Capitale offers a variety of customizable insurance products as well as saving and investment products. 

Permanent Life Insurance

Permanent life insurance provides you with coverage from the day the policy is settled until the day you die. Premiums are level and guaranteed, and as long as you keep paying the premiums the coverage never expires. SSQ offers three different permanent life insurance policy options: non-participating (Advantage Non-Participating, Pure Term to 100, Enhanced Term to 100)  simplified life insurance (Simplified Advantage), and no-medical life insurance (Affirmative). 

Simplified Life Insurance

Simplified life insurance coverage has no requirements for a medical exam. To apply, all you need to do is answer some simple questions regarding your health.

The waiting process is shorter and can oftentimes grant you immediate coverage. The tradeoff? Generally, premiums are higher for simplified coverage, and the coverage amount is lower than what you can get with traditionally underwritten life insurance. 

La Capitale offers the following simplified life insurance coverage: 

• Up to $100,000 in coverage based on age 
• Advanced payment up to 50% of coverage if the event results in shortened life expectancy

Critical Illness Insurance

Critical illness insurance is a living benefit insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event (like breast cancer, prostate cancer, skin cancer, heart attack, and coronary angioplasty), or undergo treatment while under its coverage, after a minimum of 30 days from when you are first diagnosed (90 days for cancer).

This coverage is available for a period of time also known as term length, and you determine it when purchasing the policy.

La Capitale, under Beneva, offers critical illness insurance coverage for children and adults with several policy options: 

• 25 covered illnesses or surgeries 
• Partial payouts for certain conditions
• Renewal up to age 75 and convertible up to age 60 
• Available as a separate policy or rider
• Coverage options from $10,000 – $20,000 
• Access to Teladoc network (network of doctors and specialists) 

Read our full Beneva Critical Illness Insurance Review. 

Disability Insurance

Disability insurance, sometimes also referred to as income protection insurance is an insurance product that offers you protection against loss of income by replacing a substantial portion of your paycheque if you become disabled. 

La Capitale offers disability illness insurance coverage called the “Pillar Series” income protection plan. It offers: 

• Up to $6,000 monthly benefit amount
• Partial benefit options (up to 6 months) 
• Coverage on 1st day of hospitalization (90-day elimination period or less)
• Basic coverage for accidents with sickness coverage available as a rider
• Additional simplified accident insurance available (no medical exam required) 

Investment and Financial Products

In addition to insurance products La Capitale also offers investment services with over 42 investment accounts available with 5 asset categories: fixed income, balanced, Canadian equity, American and international equity, and portfolios. They also offer RRSP loans and other annuities.

How to access La Capitale insurance policies under Beneva?

To access your La Capitale insurance policy under Beneva, you can use the Beneva Client Centre. If you previously had an online account with La Capitale, your login credentials will remain the same. 

Simply visit the Beneva Client Centre and log in to manage your policy, view coverage details, submit claims, and access important documents. If you haven’t registered for an online account yet, you can create one on the same platform by following the registration steps.

You can also use the Beneva mobile app which is available for download on your smartphone. The app allows you to manage your policies, submit claims, and view your insurance documents from anywhere

Does Beneva have an app?

Yes, Beneva has a mobile app that allows policyholders to manage their insurance on the go. The app is available for both iOS and Android devices and provides access to key features such as:

• Viewing insurance policies and coverage details
• Submitting and tracking claims
• Accessing digital insurance documents
• Finding healthcare providers (for health insurance users)
• Contacting customer support

Is Beneva a reliable insurance provider?

Yes, Beneva is considered a reliable insurance provider in Canada. Formed through the merger of La Capitale and SSQ Insurance, Beneva combines decades of experience from both companies, creating one of the largest mutual insurance providers in the country. 

Beneva offers a wide range of insurance products, including life, health, auto, home, and business insurance, ensuring comprehensive coverage for individuals and families. 

With a strong financial foundation, extensive product offerings, and a customer-focused approach, Beneva has positioned itself as a trustworthy option for insurance seekers.

How do I apply for a term life policy with La Capitale Insurance?

You can apply for La Capitale Life Insurance’s plans by using the best online insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for La Capitale Life Insurance through Beneva or get an instant quote.

Frequently asked questions

Does La Capitale life insurance cover critical illness?

La Capitale offers an optional critical illness rider under the Beneva name, allowing policyholders to receive a lump-sum payout if diagnosed with a covered critical illness. This rider can be added to eligible life insurance policies for enhanced financial protection.

Will my existing La Capitale life insurance policy be affected by the transition to Beneva?

No, if you had a life insurance policy with La Capitale before the transition, your coverage, benefits, and terms remain unchanged. The only difference is that Beneva now handles policy administration and customer service.

Can I still buy a new La Capitale life insurance policy, or do I need to apply through Beneva?

New life insurance policies are now issued under the Beneva brand, but they still include many of the same coverage options that La Capitale previously offered. Existing policyholders can continue managing their policies as usual.

Has Beneva introduced any changes or improvements to La Capitale’s life insurance products?

While core policy offerings remain similar, Beneva has focused on improving digital services, streamlining customer support, and expanding coverage options to provide a better overall experience for policyholders.