Independent Life Insurance Reviews

Canada Life Life Insurance Reviews

(35 reviews)
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consumers
(1.4 out of 5 stars)
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Not able to contact

 
(1.0 out of 5 stars)
by R.L. Oct 06, 2020
I have left several messages with an agent to call me back. I have a time-sensitive issue. Just need an answer to a simple question.
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Did you know that if you are a 35-year old female, a term life insurance policy for 10 years with coverage of $500,000 will cost you around $15-$20/month? Getting your life insurance quote today will allow you to lock-in a great rate.
 

Terrible service

 
(1.0 out of 5 stars)
by H.H. Sep 23, 2020
I have a disability claim with Canada Life. The initial Case Manager was extremely disrespectful towards me. What is surprising is she is one of the supervisors! The fact that they would put someone in this position who has such a lack of compassion and no skill set in regards to dealing with people speaks volumes. She was condescending and rude when speaking with me. She lied about the conversations we had and said she told me things she hadn’t. The claim was eventually transferred. I have not been able to reach the new case manager as they don’t answer their phone. I have no idea what is going on. Payments have stopped and I have no idea why. They are refusing to answer questions about the care that I need support with in order to recover. They are absolutely terrible to deal with and making an already stressful situation extremely more stressful!
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Worst company on the planet

 
(1.0 out of 5 stars)
by FL Sep 16, 2020
I have paid for monthly supplemental life insurance with them for 28 years. This month (Sept 2020) they suddenly raised my rate without notifying me. Now brace yourself - my monthly rate was raised from $62.26 to $478.19 And I am 61 years old and totally healthy. Can you believe it? Thanks for having my back Canada Life.
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Thinking of getting a life insurance quote from an insurance agent? They work for one insurance company and can only sell the products of that company. That may not result in the best rate for you. Our insurance brokers compare life insurance quotes across 20+ Canadian insurers for you.
 

Dogs would be treated better

 
(1.0 out of 5 stars)
by Martin Aug 28, 2020
I filled for short term disability for depression and anxiety and health issues the company after receiving the forms that I sent before the deadline reviewed them and told me they needed more information which I provided. After providing the information and making me wait more than 2 weeks they managed to deny the claim saying there was still not enough information... So I had to go see my doctor again and provide them with more information and they kept the same thing and said their decision was final because the date I should have provided the information was too late. It is extremely hard at this time to see doctors because of all the restrictions due to COVID... I really feel like they are not human and really don't care about people. I would advise not to take any insurance with them for the experience I got. It's not enough to have to deal with my health issue every day. I feel like my insurance company restricting my employer to pay me is like saying we are giving up on you and don't care. Thank you Canada Life I hope your agents feel like they really contribute to helping people by denying their claims when they really need it.
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Life Insurance

 
(1.0 out of 5 stars)
by Sue Jul 31, 2020
My father had life insurance policies with Canada Life and another company, a week after his passing I notified both companies, six weeks later and Canada Life has yet to send me any information about the settlement of his policy. There have been repeated calls, excuses that due to COVID they are behind in their claims departments. I have demanded and called supervisors who tell in five weeks I should hear something, now it’s up to another two weeks before someone contacts me. Latest call I have been told that they will be contacting me via email because the process is so slow when dealing through Canada Post. In the meantime the other company took my information over the phone on the same day I contacted Canada Life and we received the information we needed nine days later and sixteen days after we returned the forms that the company paid out the policy. Now, this other company had to deal with COVID also and sent everything through Canada Post and yet Canada Life can’t even begin the claim! Tonight I found this forum and I realize that Canada Life stalls regardless of the type of claim and COVID.
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Did you know that mortgage insurance is the same as life insurance but more expensive and offers less protection? By cancelling it and getting life insurance , you would typically save around 30%-40% for the same coverage.
 

Will delay to not pay

 
(1.0 out of 5 stars)
by Sabs50 Jun 20, 2020
I have had the worst experience with CanadaLife. They will do anything to not have to pay. When my company terminated them for the next year of insurance they pulled access to their online portal to make claims in order to make it harder to claim. Then they rejected valid claims by creating delays and asking for additional documentation which was not requested in the original forms. They delayed until the account was closed so they would not have to pay out on valid claims. Their customer service is also trained to delay and defer, hoping that people will tire of escalating. This is awful and really puts people into a challenging situation, where they have paid for a medical service they need and cannot get reimbursed. Please avoid this unethical company.
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Waste of Your Money

 
(1.0 out of 5 stars)
by UnhappyCustomer May 14, 2020
There's no point in paying for disability insurance through this company. Long or short-term, they will not pay. They will deny your claim and make you jump through hoops to appeal it, all while you're too sick or injured to deal with it. I ended up going through EI Sickness anyways. Why pay into something that won't even be there when you need it? The adjusters are very rude, and just the stress of dealing with mine worsened my condition. Don't buy insurance from these people, you're flushing your money down the drain.
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Did you know that one in three Canadians, on average, will be disabled for more than three months before they turn 65? Get a disability insurance quote today to make sure your income is secure, even when you are temporary disabled.
 

Term Policy SCAM

 
(1.0 out of 5 stars)
by Ann May 12, 2020
In 2010 I was offered what seemed like a great deal on an insurance policy with Canada Life, through Canadian Tire. It is a Canadian Tire Financial Services Term Life Insurance policy for $150,000. I purchased the policy on March 8, 2010, because I wanted to leave a substantial gift to my nephew. The term of the policy is 5 years and the premium increases every 5 years accordingly. Thus far, I have paid in to the policy an approximate amount of $5324.00. My premiums will increase as follows: April 2020 - March 2025 annual premium for the 5 year period of $4020 April 2025 - March 2030 annual premium for the 5 year period of $6909 April 2030 - March 2035 annual premium for the 5 year period of $11526.60 April 2035 - November 2038 (75th birthday) annual premium for the 68 month period $16,368.28 1. The plan has a provision called the Benefit Reductions at Older Ages. The provision states the following: On the Insured's 71st birth date the coverage shall reduce by 20% of the Amount of insurable show on this certificate and shall further reduce another 20% of the original Amount of Insurance shown on this certificate each birth date thereafter. Each amount of insurance with the value of $50,000 for an individual who has attained the age of 71 shall reduce by $10,000.00 on the individual's 71st birth date and shall further reduce by another 20% of the original Amount of Insurance on each birth date thereafter until age 75. That means my $150,000.00 policy will be worth $30,000 if I should live to the age of 75 and one day. However, I will have paid approximately $44,147 for the policy if I should live to age 75 and one day. This cannot be right. I am effectively paying 50% more than the policy will be worth should I reach the age of 75; the policy is worthless. 2.In 2010 the average life expectancy for a female in Canada was 81.25 years. Today the average life expectancy for a female in Canada is 85.5 years. The projected life expectancy for a female in Canada by the time I am 75, in 2038 will be 86.6. If the average life expectancy is far greater than the age of 75, the plan will only payout to those who die prior to that age. According to the Canadian Institute of Health Information, life expectancy in Canada in 1961 was 71 years old. 3. Premiums will continue to be paid from the date of my 71st birth date until the age of 75. However, the the amount of Insurance is reduced greatly. In my case, the total amount of insurance will reduce from $150,000 to $30,000 over the course of the 4 years between the ages of 71 and 75. The total amount of annual premiums for the 68 month period between my 71st birthday and the age of 75 will be $16,386 The total amount I will have paid to Canada Life as of November 2038 will be approximately, $44, 147 for a plan that will only be worth $30,000 as of the same date. During my call today to Canada Life I asked the agent about converting my plan to a permanent plan and taking the amount I have invested in to the plan to a better plan. He initially told me that I couldn't do it because the plan is not a convertible plan. I said there was nothing advising me of this in any of my documents. He then relented and said, "off the record, you can convert the plan but you have to call in and threaten to cancel and then we can offer you conversion." When I asked what my new premiums would be he said he, "couldn't tell me because he can only access that information once the request to cancel and convert has been submitted." Also, once the conversion request is submitted my current term plan would be cancelled and it cannot be reactivated. I could effectively be without any insurance plan whatsoever, despite the fact that I have already paid over $5000 to Canada Life, thus far. I simply want to be able to convert to a plan that does not excessively increase the rate of my premiums, transfer the amount invested into the current plan into a more reasonable insurance plant, and to have a life insurance plan that is equitable. The plan they have sold me is a farce. It has no cash value, it cannot be easily or transparently converted, and it will eventually cost me 50% more than the policy will be worth should I live out the life of the policy. This is a disappointment as well as a deception on the part of Canada Life.
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Harrassing bullies to the max

 
(1.0 out of 5 stars)
by veryill Apr 30, 2020
After paying health insurance to Canada Life I became very ill and unable to work. At this time of Covid-19 pandemic they are forcing me to go out and "Find Employment" despite what my medical doctors are totally against. They refuse to send me any documents of their rules. Harass me to no end. Very unprofessional. They even told me not to see my doctors as they don't even know what diseases are that I am diagnosed with. Really do not even deserve any stars on reviews. Very insensitive and could care less about clients. Pitiful their attitudes.
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Not sure if you can qualify for life insurance with existing health pre-conditions? Let us to help you with a no medical life insurance quote , meaning that you do not need to pass a medical exam to qualify for a life insurance policy.
 

Just awful

 
(1.0 out of 5 stars)
by Barney Apr 28, 2020
Got this insurance through work for drug, dental coverage etc. Been with them for 4 months, have had to contact them for 4 months. Suppose to process drug claims in 5 business days. I usually wait 15 days, see they have not done anything then contact them. Just ridiculous. I wish I knew who I could contact to have them investigated. They claim on their site they have donated 1 million dollars for COVID 19. How about paying customers back what they are owed.
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Horrible people

 
(1.0 out of 5 stars)
by madguy Apr 18, 2020
I dealt with one of the rudest customer service agents and ended up hanging up due to harassment. I then complained to the complaint which they then informed her that I had complained. She then called me to confront me and harass me more. I then emailed saying I would not deal with this agent . 2 weeks later her manager called saying that is my case agent and she has to be the one to deal with my claim and then I responded that I would record the conversation this time since they denied recording the first conversation even though there is an automatic message saying the call would be recorded. Its been 2 1/2 months now without a single disability check and are not paying for my therapy sessions. They also transferred me between 3 provinces and multiple people to delay the claim.
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Did you know that if you are a 30-year old male, a term life insurance policy for 20 years with coverage of $200,000 will cost you around $19/month? Getting your term life insurance quote today will allow you to benefit from a great rate.
 

Terrible

 
(1.0 out of 5 stars)
by Unimpressed Feb 26, 2020
Slow processing times and awful, rude customer service. Was talked down to and no apology when they are proven wrong. Just a terrible arrogant attitude overall.
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Won't payout legitimate claims

 
(1.0 out of 5 stars)
by Greg Feb 12, 2020
Canada Life is just rebranded Great-West Life. They rebranded because Great-West Life had such poor reviews but the company has changed its name only, not its practices. Recently I have been trying to get reimbursed for covered prescription drugs. After multiple visits to my doctor to get extra paperwork filled out they still rejected the legitimate claim because of a mistake Canada Life made. Their solution to the mistake they made is for me to once again visit my doctor to get more paperwork filled out. This company has cost me more in lost pay because of unnecessary doctors visits than the prescription is worth. It's a huge waste of doctor resources and my time. People only use Canada Life because they have never had to make a claim or they are forced to by their employer.
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Planning to get life insurance to protect your family, including children? Make sure that you get enough coverage. According to studies, it takes about $250,000 in total to raise a child to the age of 18 (and that doesn’t include any post-secondary education costs).
 

didn't pay for claims

 
(1.0 out of 5 stars)
by Loki Jan 23, 2020
Hello to everyone who had the misery of dealing with this so-called Insurance Company that pulls in 10 billion yearly and they can't even pay two months coverage of disability properly and reasonably. I had surgery and was out of work for two months and just because I returned to work shortly after two months, so they only paid $20 towards my line of credit to cover me for ONE day. I had to pay my surgeon $45 to have a medical report done to send to Canada Life for the surgery I endured. Like everyone here, I've been paying for useless insurance coverage when they don't even cover your psychology therapy bills of having to deal with these thieves! Anyone willing to start a class action with this scam of a company who only collects and doesn't pay out. My line of credit piled up with interest and monthly payments where I am no longer to even give them a payment heading towards bad credit while Canada Life only gave $20 towards my line of credit. There are no words at this given moment to express how furious I am along with several others who were royally screwed by this company. Beware! Do Not go with Canada Life! It is insulting for a $10 Billion company that can't spare to pay for two months' coverage or can't spare $600!
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Bilked

 
(1.0 out of 5 stars)
by Marcus Dec 15, 2019
I am so frustrated that I had been paying double the amount and the payments were never consistently the same. I added it up and I have been close to $200.00 a month for a couple who are young and non-smokers. Once I had begun to review other companies it was nearly half.
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Did you know there is a 35% chance of developing a critical illness before you are 65 and 65%-70% chance before you turn 81? That means getting a critical illness insurance quote is no less important than getting life insurance. Your choice.
 

expensive and poor service

 
(1.0 out of 5 stars)
by pamlee May 06, 2019
This insurance is expensive compared to other life insurance. We bought ours and when a broker came to us we were very upset that the Canada Life agent gave us pay for life and that the premium is very expensive compared to if we buy from other life insurance companies. It was more than 10 years since we were paying and our cash value was only $600 ( this is for ten years in contribution)! We transferred already. We also learned from other friends that they also have the same worse experience as us with Canada Life.
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Class Action coming!!!! Scams

 
(1.0 out of 5 stars)
by SoUpset May 01, 2019
Would you all be willing to file for a class action lawsuit against this company? It doesn’t seem that they do anything that they are supposed to and they just take your money. My parents had been paying $75 a month for the past 20 years for life insurance, now suddenly they are told they need to pay $720 a month!!! Who can afford that?
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Did you know that if you are a 35-year old female, a term life insurance policy for 10 years with coverage of $500,000 will cost you around $15-$20/month? Getting your life insurance quote today will allow you to lock-in a great rate.
 

Scam allert**

 
(1.0 out of 5 stars)
by Pablo Mar 14, 2019
Had disability insurance on the house for 11 years! I broke my hand at work and they refused to pay up.
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disability

 
(1.0 out of 5 stars)
by disability Feb 24, 2019
I bought disability insurance with Canada Life which I paid monthly but when I was on my days off in Edmonton, I had a car accident. I was off work then I applied for my disability to cover my mortgage payment after I provided them with all the documents they needed. After three months they demanded more documents for the last two years. They declined my claim for they found out I was taking medications for other things that have nothing to do with my claim. I think some legal actions should be taken against Canada Life and should go public for others not to do business with this fraud company. Hardly anyone would be approved. It's a scam
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Did you know that mortgage insurance is the same as life insurance but more expensive and offers less protection? By cancelling it and getting life insurance , you would typically save around 30%-40% for the same coverage.
 

Canada Life is a scam, period.

 
(1.0 out of 5 stars)
by oploc Nov 20, 2018
I've recently helped my parents dispose of a life insurance policy and the disposition date was in late May. The insurer wanted after the disposition date was cleared and sent to CRA, that they will withhold money until the insurance holder can prove whether he is a resident or non-resident. That they waited until the form can be processed for three months before surrendering money in September is one problem, that they still collected for those three months for the policy that was already disposed of in May is another, more dastardly move. They just swindled the policy owner who dutifully paid the premiums for more than a decade out of half a thousand dollars. I will tell everyone that this company is a scam and a fraudulent business.
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Negative Stars

 
(1.0 out of 5 stars)
by Cindy O Jul 12, 2018
I paid disability insurance on my mortgage for 15 years and then was diagnosed with cancer last year. I have been fighting with Canada Life but I have been denied! I spent 4 months in chemo and 15 sessions of radiation and did not receive a penny from Canada Life. They were sure happy to take my $150 a month for the last 15 years. Do not take out any type of insurance with this company
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Did you know that one in three Canadians, on average, will be disabled for more than three months before they turn 65? Get a disability insurance quote today to make sure your income is secure, even when you are temporary disabled.
 

#RIP OFF/SCAM

 
(1.0 out of 5 stars)
by ripped off/scam Dec 28, 2017
My mother recently passed away and we filed a claim for a small life insurance policy. The company has been very difficult to deal with and I've received many different versions of what needs to be done. Even after I finally got a packet from them in order for the 4 children to file individual beneficiary affidavits, I was advised by another agent that couldn't be done. Please note it was very difficult to get the original agent to provide the packet anyway. It is interesting to note that even the packet I received with a checklist enclosed was incomplete. We have dealt with 2 other life insurance companies and were pleasantly surprised by their responsiveness and customer service. I have absolutely NO faith that Canada Life will pay the benefits of a life insurance policy that my parents paid on for years. I firmly believe that if they do eventually pay benefits, they will do everything they can to make the process difficult enough that claimants eventually just give up.
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Unfair

 
(3.0 out of 5 stars)
by A.I.S Dec 08, 2017
I was recently diagnosed with a critical illness and through my work I was covered by Canada Life. I was able to submit my claim which took 2 and half months to complete and to be told it's been declined. This was due to the type of illness I had and I wasn't given any other explanation as to why they don't cover this particular one. When I started to pay this every month, I wasn't sent any documentation at all and didn't know what they covered me for. It seemed like they only wanted to take my money. I will be going to FOS.
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Did you know that if you are a 30-year old male, a term life insurance policy for 20 years with coverage of $200,000 will cost you around $19/month? Getting your term life insurance quote today will allow you to benefit from a great rate.
 

SCAM stay away!

 
(1.0 out of 5 stars)
by angry1234 Apr 03, 2017
Total scam! They will sign you up for insurance protection on your Walmart MasterCard without letting the customer know and charge you ridiculous amount every month. When you call them to cancel the plan and ask for a refund, they won't give you a refund! Instead, they threaten you to be careful of the way you talk to them because everything is recorded!!! They don't value their customers and they only want to run away with your money!!! Stay away! This is a SCAM!!!
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Disability

 
(1.0 out of 5 stars)
by Gigi Mar 18, 2017
This is the worst company I have dealt with. Sent in my claim and they keep on asking me for more details from my doctor. Really don't know why insurance companies keep on given people a hard time when it come time to make a claim.
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Planning to get life insurance to protect your family, including children? Make sure that you get enough coverage. According to studies, it takes about $250,000 in total to raise a child to the age of 18 (and that doesn’t include any post-secondary education costs).
 

Don't care, won't pay.

 
(1.0 out of 5 stars)
by Upset Feb 19, 2017
Before signing up they will promise you they world, but when time comes to pay they won't part with your money. You will have to wait forever, and they don't want to hear from you at all. If your agent is not going to help you, Canada Life won't either. Once they have your money, nobody cares , you are on your own.
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God helps you!

 
(1.0 out of 5 stars)
by Disgusted Feb 18, 2017
...If you take on a Canada Life policy, you'd make sure you have a good insurance agent, if not Canada Life is not going to help you at all. I have come to realize that my agent is not better than an used car salesperson, promised me the world before taking my money, ensuring me if I cancel within 30 days she would personally refund me the money if Canada Life does not. When I got pressured into signing up for the products with Canada Life, the agent back dated the cheques (totally over $4500), for reason unknown to me, and cheques cashed immediately. When I contacted the agent to cancel the policies the agent delayed on submitting the cancellation request number of times till I demanded confirmation of the cancellation of all policies I took on. I sat quietly for over a month, there was no sign of any refund, I then contacted the agent for the first time inquiring about the refunds. The agent told me she would check with Canada Life, I never heard from after. I texted twice, called and left message once, she ignored me. One morning I found her on the phone unexpectedly, she then told me she had traced the refund, not to worry and it might take a few months but I would 'eventually' get it. The casual careless attitude of the agent upset me. The same day she forwarded me a stream of emails asking her whether I have received my cheques without the agent’s reply. I waited few more days with no feedback after asking to confirm the address where the refund cheques would have been sent to. I then decided to write Canada Life New directly. All I got back was the email from the New Business Associate of the Individual Insurance New Business department telling the financial institute to which my agent belongs to to advise her not to allow the client to contact Canada Life directly. It seems that Canada Life does not care what the agents and financial institutions out there representing them doing to their clients and policy holders. When something goes wrong clients of Canada Life would have nowhere to turn to. They don't care, don't want to be contacted. When they take your money, they want it 2 days ago, when they have to pay or return your money, they don't want to hear from you. If you have anything to do Canada Life, God Helps You!!!
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Not sure if you can qualify for life insurance with existing health pre-conditions? Let us to help you with a no medical life insurance quote , meaning that you do not need to pass a medical exam to qualify for a life insurance policy.
 

life insurance

 
(5.0 out of 5 stars)
by Lorna Jan 26, 2017
Th yet we're very nice and helped me throughout and they paid the life insurance within a month...I would recommend this company
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I'd rate 0

 
(1.0 out of 5 stars)
by injured Dec 02, 2016
I've held 3 policies over the 12 years I've been with my bank and since I experienced nerve pain and been place off work and waiting for a lengthy drawn out night mare of a discussion I've been told I'm to high risk they are shredding my contract and sending all my premiums back to me. these guys are crooks. I called my branch manager expressed the disgusting product that they are endorsing and that is a bad reflection on their business. We'll see where this goes but this bank has been warned I will pull pin on them after 12 years and working where i work and the elbows i rub this experience will cost both business dearly as because everyone will hear the "peace of mind" that are all lies sold to un-expecting clients.
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Thinking of getting a life insurance quote from an insurance agent? They work for one insurance company and can only sell the products of that company. That may not result in the best rate for you. Our insurance brokers compare life insurance quotes across 20+ Canadian insurers for you.
 

Canada Life is SCAM!

 
(1.0 out of 5 stars)
by Alexandre Jun 20, 2016
About 7 years I payed life and health insurance for me and my wife. Canada Life did not pay me any red penny when my wife died, did not pay me when I lost vision on my right eye, did not pay me protection for credit line. This is extremely bad company. I do not advise to anybody pay them any money. Can somebody help me with good lawyer to start claim this company in court?
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