What percentage of people in Canada have life insurance?
Although many consider life insurance in Canada essential, only 25% of Canadians have purchased individual insurance, while 38% are covered through their employer.
How many Canadians don't have life insurance?
According to a poll by TD Insurance and Environics Research Group, which surveyed 1,500 Canadian adults, 3 in 10, or almost one-third of Canadians don't have any life insurance.
Who is the number 1 insurance company in Canada?
Manulife is Canada's largest insurance company, collecting almost $40 billion in annual premiums. Canada Life, Sun Life, Desjardins, and Industrial Alliance (iA) round out the top 5 biggest life insurers in Canada.
What is the average life insurance payout in Canada?
The average Canadian life insurance policy typically pays out $200,000, but many life insurance professionals suggest this may not be enough to cover your needs. In fact, the rule of thumb is that individuals should have coverage for about 10 times their annual income.