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What is average cost of life insurance in Canada?
The cost of life insurance depends on several individual factors, there’s no catch-all figure that would give you an accurate estimate. However, for most young, healthy adults life insurance quotes are reasonable on a 20-year term policy. Eighty percent of millennials overestimate the cost of life insurance by up to five times the actual price, but rates can be as low as the cost of an extra-large pizza. Luckily, you can get instant term life insurance quotes at PolicyAdvisor whenever you have 60 seconds to use our tools on your phone or computer.
| AGE | MALE | FEMALE |
|---|---|---|
| 25 | $31 | $22 |
| 35 | $33 | $26 |
| 45 | $75 | $54 |
| 55 | $223 | $155 |
| 65 | $716 | $487 |
Term life insurance premiums, $500,000 death benefit, non-smoking, 20-year term
Compare life insurance quotes
Rates for a $500,000 life insurance policy can be as low as the cost of an extra-large pizza
Protect the people who depend on you today; get free term life insurance quotes. PolicyAdvisor is the best place to get life insurance quotes online in Canada. Speak to our advisors to find the best online life insurance quotes Canada has to offer or get instant quotes on your phone or computer with our easy-to-use tools.
Why PolicyAdvisor?
PolicyAdvisor is a digital-first insurance broker, using technology to make life insurance simpler, smarter and more rewarding.
| Policyadvisor .com | Insurance Brokers | Insurance Agents | |
|---|---|---|---|
| Simple, quick, online | ![]() |
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| Compare 30+ companies | ![]() |
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| Live advisor support | ![]() |
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| Impartial, trusted advice | ![]() |
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| Commission-free advisors | ![]() |
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| Apply from anywhere | ![]() |
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PolicyAdvisor is one of Canada’s top insurance brokers. Reviews from all over the web confirm our commitment to making insurance accessible to all Canadians and to provide you with the absolute best customer experience while comparing and applying for your insurance policy.
How PolicyAdvisor Works?
At PolicyAdvisor we’ve made the process of buying life insurance as easy and painless as possible. In fact, in just a few short minutes you could be on the way to obtaining coverage, protecting your loved ones, and having the peace of mind knowing you’ve taken care of all your protection needs.

1
STEP 1
Get quotes quickly
Get the best quotes across insurance companies
2
STEP 2
Zero in on best option
Our advisors guide you to the best product and company for your unique situations
3
STEP 3
Submit application
Once finalised, we help submit your application. Yes, we will scout to multiple companies if there are complications

Get lowest life insurance quotes now!
Call 1-888-601-9980 to speak to our licensed advisors right away, or book some time with them below.
Disclosures:
Issuance of coverage is subject to underwriting by the respective insurance company. Any premium quotes displayed are non-binding and are subject to final approval by respective insurance companies. Final prices may vary as underwriting takes into account several factors including, age, gender, smoking status, status of health, lifestyle, etc.
Potential savings calculated using the average difference in premium between the highest and lowest term life quotes shown based on publicly available rates displayed on the website. Savings may vary by chosen policy term, coverage amount, health status, and lifestyle choices.


