How Much Is Life Insurance In Canada

The average cost of life insurance per month in Canada ranges between $15 to $100, says Life Insurance Advisor Erik Heidebrecht but there are a few factors that influence this cost, which we’ll cover below.

For starters, here’s what you could expect to pay for life insurance, depending on your situation and policy, based on data from 33 different life insurance companies.

And how does this break down by life insurance company? Here’s a preview of some of the most competitive life insurance rates for term policies in Canada:

The cost of life insurance partly depends on factors that are out of your control, like your age and gender.

And it also may depend on factors that are in your control, like your health, lifestyle and coverage amount. Here are some tips to get you started:

How are life insurance premiums calculated?

Here’s a starting point for how life insurance companies calculate premiums; Canadian insurers initially give you a life insurance quote based on your age, gender and smoking status. Your quoted rate may change based on additional information in your application, like your family’s medical history.

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