Cheapest Life Insurance Quotes in Canada
Discover 6 deals available this month.
1.Beneva Term Life Insurance
Beneva Term Life Insurance offers affordable coverage starting at about $10.80 per month for a healthy 20-year-old non-smoker purchasing $100,000 of 10-year term insurance. It is among the cheapest term life options available in Canada.
View Deal →At just over ten dollars a month, Beneva provides budget-friendly term life insurance ideal for young, healthy individuals seeking straightforward, low-cost coverage.
Pros:
- Low starting premiums around $10.80 per month
- Available across Canada
- Affordable for 10-year term coverage
- Good option for healthy non-smokers aged 20
Cons:
- Pricing example limited to healthy 20-year-old non-smokers
- Only 10-year term pricing highlighted, less clarity on longer terms
- No special deals or discounts mentioned
2.Scotia Insurance Term Life Insurance
Scotia Insurance offers Canada-only term life insurance with rates starting as low as $10.58 per month for $250,000 of coverage when applying by phone. This makes it an affordable option for substantial protection.
View Deal →Offering competitive rates for higher coverage amounts, Scotia Insurance appeals to those seeking significant protection with straightforward phone application.
Pros:
- Low monthly premium starting at $10.58 for $250,000 coverage
- Higher coverage amount available compared to some competitors
- Simple application process via phone
Cons:
- Rates and deals only available when applying by phone
- Coverage limited to Canadian residents
- Less competitive pricing for lower coverage amounts compared to some alternatives
3.IA Financial Group Pick-A-Term
IA Financial Group Pick-A-Term offers term life insurance in Canada with sample quotes starting as low as $9 per month for $100,000 coverage over 10 years. This makes it one of the more affordable options for basic term coverage.
View Deal →At just $9 per month, IA Financial Group Pick-A-Term presents an economical choice for those seeking straightforward 10-year term life insurance in Canada.
Pros:
- Affordable pricing with quotes from $9 per month
- Coverage available across Canada
- Simple 10-year term option
Cons:
- Limited to 10-year term coverage in sample quotes
- No mention of additional features or riders
- Less competitive pricing compared to some other providers like Sun Life
4.Sun Life Term Life Insurance
Sun Life Term Life Insurance offers coverage starting at $8.10 per month for a healthy 30-year-old non-smoker seeking $100,000 of 10-year term protection in Canada. It provides affordable term life insurance with competitive rates.
View Deal →At just over $8 per month, Sun Life delivers one of the most budget-friendly term life options in Canada, making it attractive for those seeking essential coverage without high costs.
Pros:
- Low premiums starting at $8.10 per month for $100,000 coverage on a 10-year term
- Available nationwide across Canada
- Affordable option for healthy 30-year-old non-smokers
Cons:
- Sample pricing based on a healthy 30-year-old non-smoker, rates may vary for other profiles
- Limited to 10-year term samples; longer terms and other coverage amounts not detailed
- No additional features or optional riders mentioned in the available data
5.RBC Insurance Term Life Insurance
RBC Insurance Term Life Insurance offers term life coverage in Canada with rates starting under $13 per month and policies beginning as low as $12.22 monthly. It provides affordable options for those seeking straightforward term life insurance.
View Deal →At just over $12 a month, RBC Insurance delivers accessible term life coverage for Canadians seeking reliable protection without breaking the bank.
Pros:
- Affordable rates starting below $13 per month
- Policies available from as low as $12.22 monthly
- Widely available across Canada
Cons:
- Not the cheapest option compared to some competitors
- Limited pricing details on coverage amounts beyond the base rate
- No specific discounts or unique features highlighted in the research
6.Blue Cross Life Term Life Insurance
Blue Cross Life Term Life Insurance offers term life coverage in Canada starting at about $15 to $20 per month, with premiums described as less than a dollar a day. It provides affordable protection for various coverage amounts.
View Deal →At a baseline of under a dollar daily, Blue Cross Life Term Life Insurance delivers straightforward term coverage for Canadians seeking reliable options without ultra-low pricing. While not the cheapest, it balances accessibility with simplicity.
Pros:
- Coverage available throughout Canada
- Premiums start as low as $15 to $20 per month
- Offers a simple, easy-to-understand term life insurance option
Cons:
- Higher starting premiums compared to some competitors
- Less competitive for young, healthy non-smokers seeking lowest rates
- Limited detailed pricing tiers or discounts publicly available
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Final Words
To secure the cheapest life insurance quotes in Canada this October, take time to compare offerings from providers like Beneva, Scotia Insurance, and IA Financial Group to find the best fit for your needs and budget. You can explore current rates and coverage options now to ensure your financial protection is both affordable and reliable.
Frequently Asked Questions
Beneva Term Life Insurance offers affordable coverage starting at about $10.80 per month for a healthy 20-year-old non-smoker purchasing $100,000 of 10-year term coverage, making it one of the most budget-friendly choices available.
The sample rate of $10.80 per month applies to a healthy 20-year-old non-smoker seeking $100,000 of 10-year term coverage. Eligibility and rates may vary based on age, health, and coverage amount.
Beneva provides term life insurance coverage for 10 years, which means your beneficiary will receive the policy amount if you pass away within that decade, provided the policy is active and premiums are paid.
Other affordable options include IA Financial Group Pick-A-Term with quotes as low as $9 per month for $100,000 coverage, and Sun Life Term Life Insurance with premiums starting around $8.10 per month for a healthy 30-year-old non-smoker.
Yes, some providers like IA Financial Group offer quotes as low as $9 per month for $100,000 of 10-year coverage, and Sun Life has premiums as low as $8.10 per month for certain age and health profiles.
To compare quotes, consider coverage amount, term length, monthly premiums, and eligibility criteria. It's also important to check if the rates are for phone applications or online and to review any additional benefits or restrictions.
