Canada Life

Canada Life: Policy Options, Service Excellence, and Market Strength

Canada Life Assurance Company, founded in 1847, is Canada’s first domestic life insurer and one of the country’s largest and most established providers. After the 2020 combination with Great-West Life and London Life, Canada Life operates as a key subsidiary of Great-West Lifeco within the Power Corporation group. It manages more than CAD 125 billion in assets and serves over 12 million Canadians across life, health, group benefits, and wealth management.

Comprehensive Policy Options From Canada Life

Term Life Insurance From Canada Life

Canada Life’s term portfolio includes Canada Life My Term™, which offers:

• flexible term lengths from 5 to 50 years, selectable in one-year increments
• level premiums for the initial term, with annual renewals available afterward until age 85
• conversion to permanent coverage without medical underwriting before age 70
• single-life or joint first-to-die options

Available riders can include disability waiver of premium, accidental death benefit, child term insurance, and business growth protection.

Permanent Life Insurance Options

Canada Life offers permanent coverage designed for long-term protection and cash-value growth:

• Whole life — including Wealth Achiever Plus, with lifetime coverage, guaranteed cash value, and potential dividends
• Universal life — flexible premiums and death benefits, with investment-linked cash-value options that policyholders can tailor over time

Critical Illness, Disability, and Health Coverage

Additional personal protection products include:

• Critical illness insurance — lump-sum benefits on diagnosis of specified major illnesses
• Disability insurance — short- and long-term income replacement during covered health setbacks
• Health and dental insurance — supplemental coverage for services not fully covered by provincial plans, including dental, prescriptions, vision, and paramedical care

Group Benefits, Creditor Insurance, and Wealth Management

Canada Life also serves workplace and broader financial needs through:

• Group benefits — employer-sponsored life, health, disability, and dental plans
• Creditor insurance — protection against outstanding debts in the event of death, disability, or critical illness
• Wealth management — mutual funds, segregated funds, annuities, and planning support that can complement insurance coverage

Service Excellence and Customer Experience at Canada Life

Digital Tools and Personalized Support

Canada Life emphasizes multi-channel service, including:

• online portals and mobile tools for policy management, claims submission, coverage checks, and account updates
• access to advisors and specialists who help match products to changing personal or business goals
• dedicated claims teams focused on timely handling and clear communication during complex cases

Customers often cite product flexibility, service consistency, and financial reliability as key reasons for choosing the company.

Market Strength and Financial Stability of Canada Life

Ratings, Scale, and Strategic Position

Canada Life’s market position is supported by:

• strong financial strength indicators, including an A+ rating from AM Best
• a diversified business mix across insurance and asset management
• scale benefits from Great-West Lifeco and the wider Power Corporation group
• continued investment in wealth and investment management capabilities, including the amalgamation of Canada Life Investment Management and Counsel Portfolio Services

Industry outlook commentary for Canadian life insurers has remained constructive, supported by resilient demand and broader market conditions across core operating regions.

Customer Feedback and Contact Information

Recent Customer Themes

Common themes in recent customer feedback include:

• straightforward customization of term life coverage and useful rider guidance
• accessible online policy and claims tools
• flexible universal life and investment-linked options
• solid group benefits administration and wellness-related resources
• clear explanations from advisors on more complex product details

Canada Life Contact Details

Head office
Canada Life Assurance Company
330 University Avenue
Toronto, ON M5G 1R8
Canada

Customer service

• General enquiries: 1-800-957-9777
• Claims: 1-800-957-9777
• Group benefits: 1-866-733-8612
• Website: www.canadalife.com

Investor relations

• Phone: 1-866-528-3115
• Email: investorrelations@gwl.ca

Mailing address
P.O. Box 6000, Station A
Toronto, ON M5W 0L4
Canada

Canada Life remains a major Canadian choice for individuals, families, and employers seeking life, health, group, and wealth solutions backed by long operating history, broad product depth, and established service infrastructure.

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