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2025-12-05T22:00:00

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What is life insurance and how does it work?

Life insurance is a policy or contract between you and a life insurance company that can last for the rest of your life or for a specific time period. This contract guarantees that your beneficiaries will get a tax-free cash payment (also called the death benefit) when you die – this is provided you meet all the requirements in your policy. The exact amount they’ll get depends on how much coverage you buy and the type of policy you select.


Learn more about how life insurance works in Canada


Benefits of life insurance

  •    Your beneficiaries can use the death benefit any way they want
  •   Certain policies offer a cash value More on option.

 You have the option to get lifelong protection where your premiums never increase More on.



Have questions?

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