Canada Life Life Insurance Reviews

Absolute worst company. First, no phone number to call directly. Second, form upload has multiple portals without explicit direction as to which is for what. Third, the person who accepted my claim documents from one of the portals goes on a 3 week vacation. That person says they received my form and is processing it. I get an email confirmation from Canada Life confirming that my document was recieved. I think it was from the agent. Nope. That person gets back from vacation and says I am missing more information and forms. What!? Why didn't you or the process application list this? One of the forms was already part of my profile documents, but they don't care. Resubmit it. I do. Emails are received in multiple threads and each one is asking for more forms and information. Why? You don't need my spouse information as he is dead years ago. That's why is it listed as "widowed". What is wrong with you people? The phone cuts off and disconnects when I try to call direct. Two months goes by and I am still working on this. This is such a scam operation. Ponzi scheme? My work uses this sham of an operation and I wish I can opt out of their joke of services. Oh, and that time they changed their prescription policy without warning.

The long waiting time it takes to process recurrent and regular claims, even when these a recurrent every month or every three months, Ex: if you have a condition like DIABETES TYPE 1 and you are insulin-dependent and will need insulin pump and supplies for the rest of your life, WHY DOES IT TAKE 20 DAYS to get this type of claims processed???
Why if the insurance was covering the remaining balance of the insulin pump for a year, suddenly one day the insurance sent me a letter saying this is no longer covered? they decided it would no longer be covered, without any prior email or notification about the changes.
If you can stay away from this so-called insurance company

They could not handle automatically merging my PSHCP and dental accounts automatically because of slight differences between my two accounts.

Why didn't they test the merging before the switchover? They would have found that thousands of accounts would not be successfully merged.

The causes of the failed merges are not complex or varied. Merging could easily be automated. Instead, they are forcing employees to call in and get their accounts merged manually.

Once you sit on hold for 60 minutes or more, they submit an internal form that will lead to your plans being merged within two weeks or longer.

Getting to talk to someone is impossible. Medication approved for over 4 years by Sun Life is not covered by Canada Life. I am diabetic and can’t get my medication cause other people abuse the product. Not my fault. I have had no medication for 3 weeks now. My health is important to me but not to Canada Life. Federal employees (current and retired - me) should have stayed with Sun Life. We were promised a smooth transition. Totally false.

Don't even use this company. The coverage is horrifically low for the premiums charged.
The worst insurance I've ever had.
If you make any changes to your account make sure you call them, again and again, to ensure they have it correct or they will cancel your plan and still randomly expect you to pay that first month they waved ever so nicely, in the beginning, absolute scam company. Beware!

I have been trying to get information regarding my life insurance policy for over two months now. My advisor is incompetent. After over 20 emails and numerous phone calls, I have nothing. No response. I asked him to change my address also and…he didn’t…I did when I called. Then a week after he emails me saying he changed my address??? No… he is negligent and I am considering terminating my life insurance policy and getting it somewhere else.

It's a lazy bunch of people running the company. I went ahead with the insurance provider but was very disappointed and frustrated. They would respond for weeks to fix errors in the documents they sent, I had to call and email them multiple times to get the receipt to submit my expenses but it's been a week and a half and I have not heard from anyone.
I can only imagine what happens once you are using the insurance, I'm going ahead and cancelling the insurance.

I have been trying to change the beneficiary on my life insurance policy. It was issued by London Life and is now Canada Life. I have tried to talk to two different advisors (this has taken so long that my advisor has changed). Only get answering machines. Leave messages, no one ever calls me back. Now SEVEN months since I tried to get this change made - still no results!

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 into 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 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.