Life Insurance Reviews
Canada Life Life Insurance Reviews
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(161 reviews)
Affordable Life Insurance?
- Rates from 20+ life insurers
- Premiums start at $12/month
- Standard & Guaranteed plans
- Can be purchased remotely
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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.
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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My insurance broker offered me both Sun Life and Canada Life's term life policies which were the cheapest for my age and health condition - they would cost nearly the same. I decided to go with Sun Life since I already have my critical illness with them. But I think Canada Life was quite ok as well and the price was good.
In doing more research I feel our premiums are high.
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.