Canada Life Life Insurance Reviews

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.

With a wait of more than 2-3 hours to get to any representative, if you are lucky.
No reply to emails or escalations.
They have no accountability.
The phone app crashes every now and again and claims are never handled on time and rejected more than accepted.
This company is more like a scam than legit.
At least have customer support where a reasonable wait time is there.

After over six emails regarding benefits of disability insurance, I have into for over four years. Not a single reply or acknowledgment. Heads up to anyone this company is nothing but a liar. When it comes time to step up and acknowledge a claim that they have to payout. Forget it you'll get nothing. Contact a lawyer.

Money was not transferred even it has been processed a month ago. Very difficult to reach. No answer or you have to wait 45 mins to 1 hour.

I have been dealing with Canada Life for an STD claim for almost 2 months. They never got a hold of me, I had to get a hold of them to see where my claim was at after 3 weeks of hearing nothing. Then I called the company and got passed off to 3 different people who could tell me absolutely nothing.
The staff aren't trained properly, they have no knowledge of what's going on, they give you wrong/withhold information. I have called every week now for almost 2 months. I have sent 3 separate emails and didn't get a single reply. When I finally talked to someone who seemed like they knew what they were doing, they told me that they were waiting on information from my employer for almost a month which no one told me in the weeks prior when I called. So I finally was able to get that information and get ahold of my job who didn't even know they were waiting on it, to send it in.

It's been almost 2 months and they still don't have a case manager assigned to my claim. I am off work due to pregnancy complications and all my bills are about to bounce because this company is so disorganized and slow with processing their claims. I'm off work because of stress and dealing with this company has made my complications worse because of the stress they cause you. They have the worst customer service I have ever dealt with.

I don't recommend this company to anyone. If you're a company looking for Insurance for your employees, please choose a different company.

Don't use this company. They promise everything. Deliver nothing. When you try to claim. You'll be denied over and over again. For every excuse. I've had disability insurance. Accident. Insurance and other policies. That. When it became disabled. They denied it. Even though my doctor and the Canadian government. Say I am. This is a scamming company. Do not waste your money. You'll get better coverage by putting your premium in a bank account. At least you'll have more than they promise. They are a total rip-off.

So even customers who are willing to wait for an hour to have a representative speak to them are not good enough. It is easier for Canada Life to just cut the line and get rid of the headache of another paying customer inquiring about their insurance.

I bought my policy from London Life and now became Canada Life. I tried to inquire about info on my own policy. I was put on hold for a very long time and was finally able to speak with someone. Then the phone cut off. I called back and put on hold for a long time again. The customer service representation had really bad attitudes. It is just very unprofessional.

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.

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.