✅ Edge Benefits life insurance pros

• No medical exams, health questions, or medical underwriting needed
• Fast underwriting (days or weeks)
• Multi-product discount with health & dental
• Coverage up to age 75
• Online access to account
• Digital e-policy
• Accelerated death benefit in case of terminal illness

Who is Edge Benefits?

Edge Benefits was founded in 1985, making it a relatively new player in the insurance industry (compared to those who have been around for hundreds of years). They initially sold life insurance, living benefits, and other investment products.

In 2013, Edge Benefits transformed the insurance purchasing landscape by eliminating paper applications and introducing a fully electronic application system. Two years later, it became affiliated with The Co-operators Group Limited. Furthermore, in 2019, Edge Benefits augmented its guaranteed issue critical illness insurance to $50,000, setting a new precedent as the highest coverage amount available in Canada. With a client base exceeding 60,000 policyholders, Edge Benefits has disbursed over $200 million in claims over the past 15 years.

Edge Benefits Inc operates as a strategic partner with insurance companies rather than functioning as an insurance entity itself. Among its partnered insurers are The Co-operators, Green Shield Canada, Chubb, and Beneva, ensuring comprehensive protection for Canadian consumers. Edge benefits issues their life insurance, critical illness insurance, and disability insurance products through Chubb.

Edge Benefits: Quick Facts

• Founded: 1985
• Headquarters: Newmarket Ontario
• AM Best Rating: N/A
• Better Business Bureau Accreditation and Rating: N/A
• Assets: – 
• Annual Premiums: –

What other insurance policies does Edge Benefits offer?

Edge Benefits offers other insurance and investment products to customers, apart from term life, through its insurance partners

Edge Benefits critical illness insurance

Critical illness insurance offers a lump sum payment if you are diagnosed with a covered critical illness. Edge benefits offer two tiers of coverage.

Tier 1 is guaranteed critical illness coverage, meaning you can get coverage without medical exams or questions. They offer up to $50,000 in coverage for this guaranteed critical illness coverage, which is one of the highest amounts offered in the industry.

Tier 2 is their simplified critical illness insurance product. This is similar to the guaranteed product, in that there is no medical exam required. However, you must answer medical questions to qualify. If you do qualify, you can get up to $100,000 in critical illness coverage.

Read more about simplified issue vs guaranteed issue insurance.

Edge Benefits disability insurance

Disability insurance will replace part of your monthly income if you become sick or injured and can no longer work. While not the most comprehensive coverage, Edge Benefits gets the edge for simplified underwriting—they can skip a few of your personal details in the application process in exchange for the “extras” that other companies provide.

Coverage is offered up to age 70 with possible 0-day waiting periods. However, because they only offer a simplified product, coverage amounts are limited compared to other standard disability products.

See our review of Canada’s best disability insurance companies.

Edge Benefits travel insurance coverage

Edge offers travel medical insurance through Beneva. Like their other products, Edge provides guaranteed issue coverage for Canadian citizens and permanent residents who frequently travel outside of their province or Canada. Coverage comes in monthly or annual travel plans (rather than per-trip plans that other providers have), with up to $5 million in emergency medical coverage.

Read more about travel medical insurance.

Edge Benefits health & dental coverage

Edge offers health and dental insurance through Green Shield Canada. Like their other products, Edge offers basic guaranteed issue health insurance, meaning that those with pre-existing health concerns will have an easier time qualifying. Those wishing to purchase enhanced coverage will have to go through medical underwriting. Plans include coverage to age 75 with three tiers of coverage available, all including dental.

See our review of Canada’s best health insurance companies.

Other financial services & insurance from Edge Benefits

Besides insurance, Edge Benefits provides Canadians with several other financial products including:

• Business overhead expense insurance
• Loss of income insurance
• AD&D insurance

How can I get an Edge Benefits life insurance quotes?

Edge Benefits offers great guaranteed life insurance coverage products for those who do not otherwise qualify for standard life insurance. As insurance advisors for Edge Benefits insurance products, we can help you decide if Edge products are the best fit for you and find Edge life insurance quotes.

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 the best coverage for your needs.

Edge Benefits critical illness insurance pros and cons

✅ Edge Benefits critical illness insurance pros

• No medical exams, health questions, or medical underwriting needed
• Fast underwriting
• Large coverage amounts — up to $50,000 guaranteed
• Comprehensive coverage — 23 conditions covered
• Pays out for up to 2 partial conditions
• Second event benefits (payout for a second, unrelated condition)
• Automatic 5% benefit increase after 5 years (up to 25%)
• Options for simplified plans to increase coverage amount
• Child critical illness rider available

❌ Edge Benefits critical illness insurance cons

• No return of premium options if your plan expires or if you cancel without a claim
• No short-term options
• No limited pay options
• Limited coverage compared to fully underwritten policies
• 2-year waiting period for any condition related to a pre-existing condition (no coverage for the pre-existing condition itself)

What are the different critical illness insurance plans offered by RBC?

RBC offers two types of critical illness insurance plans tailored to meet diverse needs: the Critical Illness Insurance Plan and the Critical Illness Recovery Plan. The Recovery plan has four tiers: 10-year term Renewable to age 75, Level cost to age 75, Renewable to age 65, and Renewable to age 75 plans.

While the Basic insurance plan offers coverage for major critical illnesses like cancer, heart attack, and stroke, the Recovery plan covers a detailed list of 30+ critical illnesses. Check out what these plans have to offer:

Key differences between RBC’s critical illness recovery plan and critical illness insurance plan

What are the critical illnesses covered by RBC?

RBC’s Critical Illness Recovery plan offers comprehensive coverage for a wide range of serious medical conditions, including cancers, heart attacks, loss of limbs, brain damage, organ failure, and more. This can serve as a financial support during challenging times.

Cancer (Life-threatening)

• Includes carcinoma, melanoma, leukemia, lymphoma, and sarcoma.
• A detailed explanation of “life-threatening cancer” is outlined in the policy contract.

Heart-related conditions

• Heart attack
• Heart surgery requirements, including:
  • Aortic surgery
  • Coronary artery bypass surgery
  • Heart valve replacement or repair

Brain-related diseases

• Stroke (Cerebrovascular accident)
• Other brain diseases:
  • Bacterial meningitis
  • Benign brain tumor
  • Dementia, including Alzheimer’s disease
  • Parkinson’s disease and specified atypical Parkinsonian disorders

Loss of senses, limbs, or mobility

• Blindness: Total and irreversible loss in both eyes
• Deafness: Total and irreversible loss in both ears
• Loss of speech: Total and irreversible loss of the ability to speak
• Loss of limbs: Total severance of two or more limbs
• Paralysis: Total loss of muscle function in two or more limbs

Organ failure or transplant

• Kidney failure
• Major organ failure on waiting list
• Major Organ Transplant

Other covered conditions

• Coma
• Aplastic anemia
• Loss of independent existence
• Occupational HIV infection (accidental infection acquired while working)
• Severe burns

Partial benefits for early-stage conditions

You may qualify for 10% of the benefit amount (up to $50,000) the first time you are diagnosed with one of the following early-stage cancers:

• Early breast cancer
• Early prostate cancer
• Early skin cancer
• Early-stage intestinal cancer
• Early thyroid cancer
• Early-stage blood cancer

Additionally, you may also qualify for 10% of the benefit amount (up to $50,000) if you undergo a coronary angioplasty procedure.

Can I cancel or modify my Sun Life critical illness insurance policy?

Yes, you can cancel or modify your Sun Life critical illness insurance policy with a simple process. If you cancel within the 30-day free look period, you will receive a full refund by submitting a written request along with any required documents. 

After this period, cancellation is still possible by submitting a written request, but refunds depend on your policy terms, and all coverage will end immediately. To modify your policy, such as adjusting benefits or adding riders, you must contact Sun Life directly. 

What are the pros and cons of Sun Life’s critical illness insurance?

Sun Life Critical Illness Insurance provides comprehensive coverage for up to 26 full-payout illnesses, with generous payouts ranging from $25,000 to $3 million.

It includes options for children’s coverage, an online application process, and the benefit of no survival period for many conditions. However, it has limited short-term coverage options, and higher premiums for certain features, such as return of premium riders.

Pros and cons of Sun Life critical illness insurance

How can I buy Sun Life critical illness insurance?

If you’re looking for affordable Sun Life critical illness insurance quotes, we recommend speaking to our licensed advisors to compare and find the best plan for your needs. With PolicyAdvisor, you’ll receive free instant quotes, the lowest rates in the market, and lifetime after-sales support. 

Our Sun Life insurance rating and review

Sun Life sells 4 term life insurance products:

• SunTerm: a normal term insurance policy that can cover you for up to $15 million
• SunSpectrum Term: more affordable prices but you don’t have as much coverage
•  SunLife Go: shorter terms and fewer rider options, but up to $1 million in coverage
• SunLife Go Simplified: a policy you don’t need a medical exam for (non-medical), but won’t give you as much coverage

Sun Life mostly sells its two main products — the Sun Term and Sun Spectrum Term — offline. You can mostly buy these by having an in-person meeting with one of the representatives who’s part of the vast network of Sun Life’s financial advisors and distributors. 

Their products are fairly standard. You’ll get the features and benefits that are included with most similar policies in the Canadian life insurance market.

You can renew your policy for another term once your first term is done, or you can change it into permanent life insurance. You also have a lot of life insurance rider options that can help you get a wide variety of coverage for an affordable rate.

Sun Life’s premiums can cost a bit more than some other companies. But, they can also give you some of the highest amounts of coverage in the Canadian market.

We would recommend Sun Life if you’re looking for an insurance company that can give you decent coverage the old school way — which is to say, by applying in person.

How much does life insurance from Sun Life Insurance cost?

Term life insurance from Sun Life can be more expensive than other companies. But, you also get the added benefit of higher coverage. The table below shows some Sun Life term insurance quotes at different ages for their default plan, for a 20-year term and $500,000 in coverage.

You can easily get a personal Sun Life insurance quote and compare it with other companies right here on our website. Just click the link below the table to get started.

What other insurance policies does Sun Life Insurance offer?

Aside from term life insurance, Sun Life also sells the following products:

Our Assumption Life insurance rating and review

Assumption Mutual Life Insurance Company, also known as Assumption Life, is a leading provider of simplified and flexible term life insurance options.

The Company offers five separate products for customers who are looking for non-medical life insurance policies.

The life insurance policies offered by Assumption Life also offer flexibility to seek coverage for higher amounts after medical and financial underwriting.

Pros and cons

Who is Assumption Life?

Formally known as Assumption Mutual Life Insurance Company, most marketing materials refer to the company as simply Assumption Life. They are known for their no-medical term life plans but offer many insurance products for Canadians looking to bolster their financial security. They are one of the very few Canadian insurance companies headquartered in Atlantic Canada with their main office located in Moncton, New Brunswick – though they started as a fraternal society in Waltham, Mass. before transforming into a mutual insurance company in the late sixties.

Key facts about Assumption Life

• Founded: 1903
• Headquarters: Moncton, New Brunswick
• AM Best Rating: A–
• Better Business Bureau Accreditation and Rating: A+
• Assets: $2.1 billion
• Annual Premiums: $170 million

How much does life insurance from Assumption Life cost?

Representative values, based on non-smokers in good health. $500,000 coverage, 20-year term.

What types of term life insurance policies does Assumption Life offer?

Assumption Life offers many term life insurance options, with a large number of products for those looking to qualify without medical examination.

FlexTerm 

Assumption Life’s flagship term life insurance product is ideal for those with increasing insurance needs.

• Choose between 10, 15, 20, 25, 30, and 35 years of coverage, with guaranteed premiums and affordable prices, and coverage ranging from $50,000 to $10,000,000
• Exchange original term into a longer-term insurance product without going through a new medical. This term exchange option is available up to the 5th anniversary of the term life product
• Guaranteed, renewable, and convertible

Golden Protection Elite Term

• A great alternative for those with health conditions preventing them from qualifying for medically underwritten insurance products
• Applicants can choose between 10 or 20 years of coverage depending on their insurance needs. If eligible, the coverage starts instantly, upon approval
• The eligibility is established by a simple 18-question medical interview
• Coverage ranges from $25,000  to $150,000
• There is also a living benefit component – 50% of the insured sum – in case of terminal illness
• And there is a transportation benefit of up to $2,000 to cover transportation of the policyholder’s remains if they were to, unfortunately, pass away more than 200km from their home
• The product is not renewable or convertible

Platinum Protection Term

• The eligibility is established by a 19-question medical interview
• Choice between 10 or 20-year terms of coverage depending on insurance needs
• Can convert Platinum Protection Term into a permanent whole life policy up to age 75 without having to re-qualify for insurance. This plan is also convertible. The features are similar to Golden Protection Elite Term, though premiums are typically lower and the coverage limit increases to $500,000

Youth Plus

This is specifically meant for children aged between 15 days – 17 years.

• Simplified issue, no medical policy.
• Provides coverage up to age 25
• Provides children with guaranteed insurability, so they can maintain their coverage even if they develop certain health problems later in life.
• Allows children, once they reach 25, to convert Youth Plus into permanent or term life insurance, regardless of their health, and without proof of insurability.

Assumption Life term life insurance coverage details

• Available Term Lengths: 10, 15, 20, 25, 30, or 35 years
• Available Term Types: Level premiums
• Maximum Amount of Coverage: $10,000,000
• Renewability: The policy can renew every 10, 15, 20, 25, 30 or 35 years in accordance with the initial term selected for the policy until the policy or rider anniversary nearest the insured’s 85th birthday. No medical exam required up to certain limits. Premiums are guaranteed.
• Convertibility: Policies may be converted to a permanent life insurance policy offered by Assumption Life without need for a medical exam.

What other insurance policies does Assumption Life offer?

In addition to Term Life insurance, Assumption Life Insurance also offers:

Permanent insurance

A permanent life insurance policy 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.

Assumption Life Insurance offers both participating and non-participating permanent insurance policies.

Non-Participating Life Insurance

Platinum Protection Whole Life

• No-medical whole life insurance permanent policy
• For ages 18-85 years
• Guaranteed premiums
• Minimum coverage: $10,000
• Maximum coverage: $500,000 (18-70 years old), $125,000 (71-85 years old)
• Cash value available
• Multiple payment options: life pay (18-85 years old), 20-year pay (18-80 years old)

Golden Protection Elite Whole Life

• No-medical whole life insurance permanent policy
• For ages 18-85 years
• Guaranteed premiums
• Minimum coverage: $10,000 (18-70 years old), $5,000 (71-85 years old)
• Maximum coverage: $150,000 (18-70 years old), $50,000 (71-80 years old), $25,000 (81-85 years old)
• Cash value available
• Multiple payment options: life pay (18-85 years old), 20-year pay (18-80 years old)

Golden Protection

• No-medical whole life insurance permanent policy
• For ages 40-85 years
• Guaranteed premiums
• Minimum coverage: $5,000 (40-70 years old), $2,500 (71-85 years old)
• Maximum coverage: $100,000 (40-70 years old), $50,000 (71-80 years old), $25,000 (81-85 years old)
• Cash value available
• Multiple payment options: life pay (40-85 years old), 20-year pay (40-80 years old)

Silver Protection

• No-medical whole life insurance permanent policy
• For ages 40-85 years
• Guaranteed premiums
• Minimum coverage: $5,000 (40-70 years old), $2,500 (71-85 years old)
• Maximum coverage: $50,000 (40-70 years old), $25,000 (71-85 years old)
• Cash value available
• Multiple payment options: life pay (40-85 years old), 20-year pay (40-80 years old)

Bronze Protection

• Guaranteed issue whole life insurance permanent policy
• For ages 18-80 years
• Guaranteed premiums
• Minimum coverage: $5,000 (18-70 years old), $2,500 (71-80 years old)
• Maximum coverage: $50,000 (18-70 years old), $25,000 (71-80 years old)
• Cash value available
• Life pay to age 100

Essential Whole Life

• No-medical required for death benefit less than $999,999
• For ages 18-75 years
• Minimum coverage: $10,000
• Maximum coverage: $4,000,000
• Disability rider available up to $3,500 monthly benefit
• Guaranteed level premiums
• Available as a joint policy
• Optional riders for critical illness coverage and child insurance
• Cash value available
• Life pay to age 100

Participating Life Insurance

ParPlus

• No-medical required for death benefit less than $999,999
• For ages 18-75 years
• Guaranteed premiums
• Minimum coverage: $5,000
• Maximum coverage: $4,000,000
• Disability rider available up to $3,500 monthly benefit
• Wide range of dividend options available: Cash Dividends, Cash Accumulation, Enhanced Coverage, Premium Reduction, Paid-up Additions
• Multiple pay options available: life pay (18-75 years old) or 20-year pay (18-70 years old)

Par Plus Junior

• Participating whole life insurance for children
• For ages 15 days–17 years
• Guaranteed premiums
• 20-year pay
• Minimum coverage: $5,000
• Maximum coverage: $4,000,000
• Several dividend options available: Cash Dividends, Cash Accumulation, Enhanced Coverage, Premium Reduction, Paid-up Additions

Critical illness insurance

Critical illness insurance is a living benefits insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event, 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.

Assumption Life Insurance offers one critical illness insurance policy called Critical Protection.

Critical Protection

• For ages 18-60 years
• Available in terms of 15, 20, and 25 years or to age 75
• Minimum coverage: $10,000
• Maximum coverage: $100,000

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

Other Financial Services from Assumption Life Insurance

Besides insurance, Assumption Life provides Canadians with several other financial products.

Mortgages

Assumption Life offers mortgage loans in the provinces of New Brunswick, Nova Scotia, and Prince Edward Island. The features of their mortgages are competitive with most major Canadian banks and have options for early repayment. If they meet the criteria, they are also insured by the Canada Mortgage and Housing Corporation (CMHC).

Retirement Investments

Assumption Life offers investment portfolios, mutual funds, guaranteed investment accounts, Registered Retirement Income Funds, annuities, and life income funds for the purposes of investment and retirement planning.

How can I get Assumption Life Insurance quotes?

Assumption Life offers unique life insurance coverage products that are a great fit for many Canadian consumers that value the convenience offered by non-medical products. As insurance advisors for Assumption Life’s insurance products, we can help you decide if their products are the best fit.

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.

The information above is intended for informational purposes only and is based on PolicyAdvisor’s own views, which are subject to change without notice. This content is not intended and should not be construed to constitute financial or legal advice. PolicyAdvisor accepts no responsibility for the outcome of people choosing to act on the information contained on this website. PolicyAdvisor makes every effort to include updated, accurate information. The above content may not include all terms, conditions, limitations, exclusions, termination, and other provisions of the policies described, some of which may be material to the policy selection. Please refer to the actual policy documents for complete details. In case of any discrepancy, the language in the actual policy documents will prevail. A.M. Best financial strength ratings displayed above are not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. All rights reserved.

If something in this article needs to be corrected, updated, or removed, let us know. Email editorial@policyadvisor.com.

Wawanesa Life Insurance rating and review

Wawanesa Life is the life insurance arm of Wawanesa Insurance,  a Canadian insurance conglomerate with products across the individual, home, farm and commercial business sectors. They offer term life insurance plans with terms ranging from 10 to 30 years and include a special term-to-age-80 option. When one chooses Wawanesa Insurance, they can potentially layer term plans if they enact a base plan and add up to four term-riders of various initial term lengths within a single policy.

Preferred underwriting is available, with 3 nonsmoker and 2 smoker classes. Wawanesa insurance products are frequently the most affordable in Canada, depending on the applicant’s age and other individual factors.

Apart from pure term life insurance, Wawanesa Insurance has options for Permanent Life Insurance and Quick Issue Critical Illness Insurance products through Wawanesa Life.

While Wawanesa does business in the United States, this review focuses on Wawanesa Canada.

Pros and cons

Who is Wawanesa Insurance?

Wawanesa Mutual, founded in 1896 with executive offices in Winnipeg, is the parent company of Wawanesa Insurance, which distributes life insurance products and services throughout Canada and the United States. Wawanesa Insurance also offers automobile, farm, home and commercial business coverage. The parent company is a mutual insurance company, owned by its policyholders, allowing Wawanesa Insurance to align its business objective with the financial security and well being of its clients.

While Wawanesa Mutual is one of the largest property and casualty insurers in the country, Wawanesa Canada has a relatively smaller life insurance business. Wawanesa Insurance’s life insurance business has been in operation since 1960. In 2017, Wawanesa Insurance acquired the Western Life Insurance business from Desjardins and combined it with Wawanesa Life.

Key facts about Wawanesa Insurance

• When was Wawanesa Insurance founded? 1896
• Where is Wawanesa Insurance headquarters? Winnipeg, Manitoba
• AM Best Rating: A
• Better Business Bureau Accreditation and Rating: No / A+
• Assets: $1.5-billion
• Annual Premiums: $280-million

How much does life insurance from Wawanesa cost?

Representative values, based on non-smokers in good health. $500,000 coverage, 20-year term.

What types of term life insurance policies does Wawanesa offer?

Wawanesa Insurance offers competitively priced term life insurance throughout Canada.

Coverage and policy details

• Available Term Lengths: 10, 15, 20, 25, and 30 years terms, and term to age 80
• Available Term Types: Level coverage. Single and joint life options are available
• Maximum Amount of Coverage: $10,000,000
• Renewability: Yes, lifetime renewable at the end of the initial term, with the last renewal at age 80
• Convertibility: Yes, convertible until age 70

What other insurance policies does Wawanesa Insurance offer?

Wawanesa Insurance offers a wide range of products to customers, apart from term life and other living benefits mentioned above, such as:

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.

Wawanesa Life offers 2 different permanent life insurance policies.

Wawanesa Whole Life Insurance

Wawanesa Life’s participating whole life insurance offers higher coverage amounts at a lower premium cost than many of their competitors and is therefore one of the most affordable whole life insurance choices in Canada.

Wawanesa Life’s whole life policy is offered with 2 pay options: Whole Life – Pay to Age 100, (you pay premiums until age 100) and 20 Pay Whole Life (you pay premiums for only 20 years).

You can also build additional coverage with dividends; Wawanesa Life lets policyholders purchase paid-up additional insurance with the value from their dividends.

Wawanesa Instant Issue Life Insurance

Wawanesa Life’s Instant Issue Life Insurance policy is non-medical whole life insurance with a maximum of $50,000 in coverage. It requires a simplified life insurance application, which means you’ll have to answer some questions about your health and medical history, but it does not require blood work or a medical exam. It is available between the ages of 45 and 75 and the death benefit is reduced if the insured passes away within the first 2 years of the policy. There are also many options for surrender values and return of premium.

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, 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.

Wawanesa Life offers enhanced critical illness insurance with coverage for 14 different illnesses including:

• Heart Attack
• Stroke
• Cancer (Life-Threatening)
• Coronary Artery Blockage
• Kidney Failure
• Major Organ Transplant
• Major Organ Failure on Waiting List
• Paralysis
• Occupational HIV Infection
• Blindness
• Deafness
• Loss of Speech
• Loss of Limbs
• Severe Burns

The application for Wawanesa Life’s critical illness coverage is simplified; applicants only need to answer a health questionnaire and there is no requirement for blood work or medical tests.

The policy can be issued between the ages of 18-60 and maximum coverage is $100,000.

There are three plan types available which all offer a return of premiums on death:

• 10 Year Term that is renewable to Age 75
• Level Term to Age 75
• Level Term to Age 75 with a flexible return of premium (after 10 years or age 65, the insured person can surrender the policy for 50% of the premiums paid to that point).

Wawanesa Car Insurance

Wawanesa Insurance offers auto coverage across all provinces and territories except for Northwest Territories, Nunavut, and Newfoundland & Labrador.

Wawanesa Home Insurance

Wawanesa offers coverage for your home in all provinces and territories. Their policies include Basic, Broad, and Special categories with increasing levels of coverage, and options for coverage on sheds, garages, cottages, cabins, and more, as well as extended coverage for contents and if you are operating a business from your home. These options extend to their condo insurance offerings.

Wawanesa Insurance also offers tenant insurance for those looking to insure the contents of their home in the event of a fire, flood, or theft.

Wawanesa Business Insurance

Wawanesa Insurance offers coverage for several types of businesses, including commercial business coverage, and farm coverage.

Is Wawanesa Life Insurance right for you?

Wawanesa Insurance offers unique life insurance coverage products that are a great fit for many Canadian consumers – for those looking for a great price on insurance Wawanesa offers some of the country’s most competitively priced premiums. As insurance advisors for Wawanesa insurance products, we can help you decide if Wawanesa Insurance Canada is the best fit.

Speak to our licensed advisors and we can help you find the best coverage for your needs – whether that be with Wawanesa Canada or another great Canadian insurance provider.

Our Co-Operators life insurance plan rating and review

Co-Operators is a full-service insurance co-operative, owned by 44 members including co-ops, credit unions, and representative farm organizations. They offer home, auto, travel, life insurance, investment products, as well as group health and dental benefits.

This insurance company has a strong AM Best rating and is financially stable with over $20.6 billion in assets. While they are a major player in the insurance industry, their term life insurance products are not competitively priced compared to offerings from our insurance partners at PolicyAdvisor. 

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.

Co-Operators life insurance pros and cons

Who is Co-Operators Insurance?

The Co-Operative Life Insurance Company was founded in 1945 by a group of farmers in Saskatchewan who lost most of their belongings, savings, and life insurance during the Great Depression. They found that traditional insurers did not meet their unique needs as farmers, so in 1945 with the financial support of the Saskatchewan Wheat Pool, they founded their own insurance co-operative. 

A similar story was unfolding for farmers in Ontario, and by 1959, the Co-Operators Life Insurance Association was incorporated for business. In 1978 the Saskatchewan and Ontario branches amalgamated to form under The Co-Operator’s name.  

Since then, the Co-Operators have expanded their operations Canada-wide. Co-operator’s product offerings now include home, auto, and travel insurance, but they still offer life insurance products as well.

Co-Operators: Quick Facts

• Founded: 1945
• Headquarters: Guelph, ON
• AM Best Rating: A (excellent)
• Better Business Bureau Accreditation and Rating: A+
• Assets: $20.6 billion
• Annual Premiums: $5.05 billion

What type of life insurance does Co-Operators offer?

Co-Operators offers a full suite of term, whole, universal, and no-medical life insurance products. 

Co-Operators Term Life Insurance
The Co-Operators provide a one-year, renewable policy as well as longer term life insurance options with terms of 10, 15, 20, 25, or 30 years. Their one-year term coverage has a max coverage amount of $475,000 whereas their other terms more competitively offer up to $5 million.

Co-Operators Whole Life Insurance
The Co-Operators have two participating whole life insurance products—Protector™ and Ascend™. The two products both offer guaranteed cash value after three years, dividends, and coverage for children. However, Ascend offers more choices for limited payment plans and the option to purchase paid-up additions with your dividends. Available coverage amounts for their whole life policies are not listed online. 

Co-Operators Universal Life
Co-Operator’s universal life insurance policies have similar benefits to their participating whole life series, with the added bonus of flexibility in choosing your coverage options and investment accounts.

Co-Operators Infinity Term Insurance
This policy is the Co-Operators’ answer to a term to 100 life insurance policy. It is a permanent policy without the cash value savings component. It’s for those who like the stability of coverage for a lifetime, but want to pay less in monthly premium than they would for a regular whole or universal life policy.

Co-Operators Responsibility Series
The Co-Operators Responsibility series are no-medical life insurance policies that do not require a medical exam during the application process. However, skipping the medical means lower coverage amounts (only up to $25,000) and sometimes higher premium costs than traditionally underwritten policies.

What term life insurance amounts and coverage do The Co-Operators offer?

The Co-Operators have both a yearly renewable term insurance product as well as a separate product for longer terms. 

Term Life 1

• Available Term Lengths: 1 year
• Maximum Amount of Coverage: $475,000
• Renewability: Yes
• Convertibility: Yes, before your 70th birthday. 

Versatile Term™

• Available Term Lengths: 10, 15, 20, 25, or 30 years
• Maximum Amount of Coverage: $5 million
• Renewability: Yes
• Convertibility: Yes, before your 70th birthday.

Cost of term life insurance with Co-Operators

As mentioned, the Co-Operators is a singular insurance provider who do not have the most competitive prices for their term insurance products. PolicyAdvisor allows you to instantly shop for insurance with over 30 insurance providers to ensure you get the best coverage for the best price. 

Here’s how Co-Operators stacks up to one of our insurance partners, Desjardins, for a 30-year-old, non-smoking female looking for $1 million in coverage for a 20-year term.

What other insurance products do the Co-Operators offer?

While Co-Operators got their start in life insurance back in 1945, they have since expanded to offer a full line of insurance products. 

Critical Illness

Critical Illness insurance offers a lump-sum payment in the event you are diagnosed with a critical illness or injury such as heart attack, cancer, or stroke. Co-Operators offers four critical illness products—term 10, term 20, up to age 75, and up to age 75 with a 20 pay plan—that cover up to 25 conditions.  

Mortgage Insurance

If you’ve recently purchased a home, mortgage insurance will pay off your mortgage in the event you pass away. Usually, this coverage is offered by the mortgage lender itself and will only cover the mortgage, and no other outstanding debts.  However, Co-Operators offers a separate, portable mortgage protection plan that mirrors the benefits of term life insurance. 

Home Insurance

As a property and casualty company, Co-Operator’s home insurance products are a big part of their business. Home insurance covers your property in the event your property is damaged or destroyed in an event such as a fire, flood, or windstorm. 

Farm Insurance

Going back to their roots, Co-Operators offers farm-specific property insurance that is tailored to the unique needs of farmers, from hobby farms to large production. Their insurance products include coverage for livestock, machinery, poultry, farm structures, and pollution. 

Business Life 

Similar to their farm insurance product, Co-Operators has standard business property insurance that covers business stock, liability, equipment breakdown, and loss of income coverage. 

Auto Insurance

Co-Operators offers competitive auto insurance for your car, motorcycle, and other recreational vehicles in provinces that do not already have public auto insurance programs. 

Travel Insurance

Co-Operators offers different options for traveling Canadians, visitors to Canada, international students, and expatriates administered by Allianz Global Assistance. You can choose from single and multi-trip coverage, trip cancellation and interruption, and also emergency medical top-up.

How can I find the best term life insurance?

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.