For 2021, Canadians were paid a record-breaking over $113 billion in benefits from life and health insurance products as well as retirement products, CLHIA said in its latest Canadian Life & Health Insurance Facts report. This figure is up 17% from 2020 and is nearly $10 billion above pre-pandemic levels.
Did you know facts about insurance?
Insurance can protect you and your loved ones from financial loss or hardship. Insurance can help cover costs if something unexpected happens to: you or your family. your vehicle.
Why is Canadian insurance important?
In Canada, 77% of insurance company leaders say inflation will increase in 2022 and 85% are anticipating higher interest rates. While the pandemic and its impacts will likely continue for some time, Canada's insurers still expect economic growth to slowly recover in 2022.