The best life insurance in Canada: your complete guide + MORE Sep 14th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The latest in mortgage news: OSFI has no plans to loosen the stress test Sep 17th

Despite today's mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada's banking regulator said no changes to the stress test are imminent..... More »

How much credit card debt does the average Canadian have? + MORE Sep 23rd

As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »

The latest in mortgage news: OSFI unveils minor changes to insurer capital adequacy test + MORE Sep 29th

Canada's federal banking regulator unveiled revisions to its Mortgage Insurer Capital Adequacy Test for insured variable-rate mortgages..... More »

Can I afford to buy a second home? + MORE Sep 26th

There are plenty of reasons you may want to buy a second home. Maybe you’d like a second property for a family member to live in (e.g., your daughter while she attends university) or a condo to stay in during the week when you’re working downtown. But can you afford it? “Before you buy.... More »
Wondering how to get the best life insurance in Canada for you and your family? You’re not alone. The pandemic has shown Canadians that we are not invincible. In fact, a 2021 survey found 44% of us bought or now plan to buy life insurance because of the effects of COVID-19. But not everyone is confident in understanding what life insurance is, the cost and other details. That’s why we’re breaking it all down here.

Get personalized quotes from Canada’s top life insurance providers.All for free with Let’s get started.*Life Insurance QuotesTerm LifeWhole LifeThis will open a new tab. Just close the tab to return to MoneySense.

This guide will show you:

What is life insurance? How does it work?Do you need life insurance?How much life insurance do you need?What are the different types of life insurance? How do they compare How much does life insurance cost in Canada?Life insurance “extras”: Some add-ons and riders to consider How to find the best life insurance in CanadaFrequently asked questions about life insuranceIs life insurance taxable?When should I get life insurance?Why should I shop for life insurance online?Do I need life insurance if I already have mortgage insurance from my bank?Do I really need to do a health exam to get life insurance?

What is life insurance? How does it work?

You likely know the gist of life insurance…

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Canadian borrowers applied the brakes to mortgage borrowing in the second quarter while ramping up non-mortgage debt.

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