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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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