Choose a term that lasts as long as people depend on your income or your mortgage, and enough coverage to replace that support. Then compare quotes from several insurers for the same amount and term.
Who should look elsewhere: If you need coverage for life, for example for estate planning, compare permanent insurance too.
Listed alphabetically, not ranked. Placement is not affected by compensation. Confirm current terms with each provider.
Canada Life
Provides a tax-free death benefit to help beneficiaries meet large expenses or keep a business running. It suits people seeking flexible temporary protection; premiums remain level for the initial term if the policy is unchanged, then increase on annual renewal until coverage ends near age 85.
Manulife
Provides a tax-free lump-sum death benefit for beneficiaries, suited to people starting a family, buying a home or topping up existing protection. Rates stay the same for each 10-year term, and renewal is available up to age 85 without new medical questions.
RBC Insurance
Offers temporary life insurance protection for short-term needs with a route to lifetime coverage. It suits people seeking a quick online application; conversion to permanent insurance without medical proof is available until age 71.
TD Insurance
Pays a tax-free death benefit to beneficiaries if the insured dies while the policy is active. It suits young adults, growing families, parents and homeowners; applicants must meet the applicable citizenship or residency and age requirements.
PolicyMe
Provides a tax-free lump-sum death benefit to beneficiaries if the insured dies during the policy term. It suits people with dependants, a mortgage or other financial obligations; coverage applies for the selected term rather than for life.
BMO Insurance
Provides temporary death-benefit protection to help families cover mortgage payments, living expenses or education costs. It suits people starting out, expanding a family or taking on debt; a medical exam may be required.
Beneva
Provides life insurance to help replace family financial support and cover obligations such as a mortgage after death. It suits people protecting loved ones; term coverage can be switched to permanent insurance without a medical exam.
General information, not personalized financial advice.
Finvilo