Life insurance has become something essential, in whichever part of the world you live. It gives financial assistance and security to the family, in case the insured meets with any kind of misfortune and dies. Canada has a large number of companies dealing in life insurance business and all of them have launched various policies for the clients, but one needs to have a comprehensive look at these companies as well as their products to make an informed decision.
Listed below are the top 10 life insurance companies in Canada:
1.Manulife Financial
Considered as one of the best insurance companies in Canada, Manulife Financial provides a great variety of plans, benefits, and levels in life insurance policies, designed to cater to diverse needs. All these policies are known for providing the best protection at the most genuine rates.
2.Great West Life Assurance Company
Featuring next on the list is a reputed life insurance company called Great West Life Assurance Company, which gives a broad coverage to the clients, including life cover, critical illness, health, dental problems coverage and retirement and regular income plans.
3.Sun Life Assurance Company of Canada
Sun Life Assurance Company of Canada comes next on this list. It is a well known financial service provider in Canada, which deals in both investment products as well as a wide range of insurance plans including life insurance.
4.Industrial Alliance Life Insurance
The next name among the top 10 life insurance companies in Canada is that of Industrial Alliance Life Insurance, which is included among the top 100 biggest companies in Canada. It works with the goal of providing the best financial cover for the clients in case of death or disability and also provides some excellent plans for post-retirement period. The Peek-a-Boo policy for newborn babies is a popular product of this company.
5.Desjardins Financial Security
Desjardins Financial Security is another leading life insurance company in Canada, which is ranked on top as the best life insurance company in Quebec. It offers life insurance policies for individuals as well as groups. It has a diverse range of products including critical illness plans, health insurance, and disability insurance.
6.Standard Life
Standard Life Assurance Company comes next. This 180-year-old company has built a great reputation in the country on account of excellent customer service and provides insurance and investment plans to nearly 1.4 million people in the country. One of the most popular products of the company is Perspecta Universal Life Insurance.
7.Societe D Assurance Vie Inc
Next among the top 10 best life insurance companies in Canada is the Quebec-based company called Societe D Assurance Vie Inc, which is a trusted name providing a wide array of life insurance products to serve the needs of the Canadians.
8.RBC Insurance
RBC Insurance is a leading insurance company in Canada, which is a part of RBC Financial Group. The company makes sure that the family of the deceased client gets proper financial coverage to bear expenses such as education, loans and mortgages, and even funeral expenses, in the event of the death of the insured.
9.La Capitale Civil Service Mutual
Another Quebec-based life insurance company on this list is La Capitale Civil Service Mutual. It has been in the field of life insurance for the last 70 years and now has started providing its services all over the country. The company has a trusted reputation in this field.
10.Empire Life
Another major player in the Canadian life insurance market is Empire Life Insurance Company, which offers life insurance policies for its clients, in addition to critical illness, group insurance, and wealth management schemes.
Some other trusted life insurance companies in Canada are Co-Operators Life Insurance Company, BMO Insurance, Assumption Life, Faith Life Financial and Medavie Blue Cross.