Canada Life

Products & Services

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  Term Life Insurance

  Canada Life Term Life Insurance provides affordable life insurance coverage for a specified period, helping protect your family and financial obligations if you pass away during the term of your policy. It can help provide financial security for expenses such as mortgage payments, education costs, everyday living expenses and outstanding debts. Canada Life offers a variety of term insurance options designed to meet different life stages and financial needs. Depending on the product selected, you may also have options to renew or convert your coverage to eligible permanent life insurance without providing additional medical evidence, subject to the policy terms. Whether you're starting a family, buying a home or protecting your business, Term Life Insurance offers flexible financial protection when it's needed most.

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  Participating Whole Life Insurance

  Lifetime protection with guaranteed value and the potential for dividends. Canada Life Participating Whole Life Insurance provides lifelong life insurance protection while helping you build guaranteed cash value over time. As long as required premiums are paid according to the policy terms, your coverage remains in force for life. Your policy's cash value is guaranteed to grow and may be accessed in the future, subject to the policy terms and applicable tax rules. If cash value is withdrawn or borrowed, the policy's death benefit may be reduced. Premiums paid into participating policies are invested in Canada Life's participating account, which is professionally managed. If the participating account performs better than expected, your policy may be eligible to receive dividends. Dividends are not guaranteed and depend on the performance of the participating account and other factors.

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  Universal Life Insurance

  Canada Life Universal Life Insurance combines permanent life insurance protection with tax-advantaged investment opportunities within a single policy. It is designed for individuals who want lifelong insurance coverage while having the flexibility to build policy value over time through a range of available investment options. In addition to providing a tax-free death benefit to your beneficiaries, Universal Life Insurance allows you to make deposits above the cost of insurance, subject to policy limits established under Canadian tax legislation. These funds can be allocated among the investment options available within the policy and have the potential to grow on a tax-advantaged basis. Canada Life offers flexible premium options and a variety of investment choices, allowing policyholders to tailor their coverage to their financial goals and changing needs.

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  Critical Illness Insurance

  Financial support when you're diagnosed with a covered critical illness. Canada Life Critical Illness Insurance provides a tax-free lump-sum benefit if you are diagnosed with a covered critical illness and meet the policy conditions, including any applicable survival period. The benefit can be used however you choose, whether to help replace lost income, pay medical or rehabilitation expenses, cover household costs, or provide financial flexibility during recovery. Unlike disability insurance, which replaces a portion of your income over time, Critical Illness Insurance provides a one-time payment that can help you focus on your recovery rather than your finances. Coverage, eligible conditions, exclusions and limitations vary depending on the policy selected

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  Disability Insurance

  Protect your income when you're unable to work. Canada Life Disability Insurance helps provide financial support if an illness or injury prevents you from working and earning an income. Rather than replacing all of your income, disability insurance is designed to provide eligible monthly benefits that can help you meet ongoing financial obligations while you recover. Monthly benefits can help cover essential expenses such as mortgage or rent payments, utilities, groceries and other day-to-day living costs. Coverage, benefit amounts, waiting periods, benefit periods, definitions of disability and eligibility are determined by the policy selected. Disability Insurance can play an important role in protecting your financial security and helping you maintain your lifestyle during an unexpected illness or injury.

• Health & Dental Insurance

  Help protect yourself from everyday healthcare expenses. Canada Life Health & Dental Insurance helps cover eligible healthcare expenses that may not be covered by your provincial health plan. Whether you're self-employed, retiring, changing jobs or no longer covered by an employer-sponsored benefits plan, individual Health & Dental Insurance can help you manage the cost of everyday healthcare services. Depending on the plan selected, coverage may include eligible expenses such as prescription drugs, dental care, vision care, paramedical services and emergency travel medical coverage, subject to the policy terms, conditions, limitations and exclusions. Canada Life offers a variety of plans designed to help individuals and families maintain access to important healthcare services while protecting their financial well-being.

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  Segregated Funds

  Invest with growth potential backed by insurance protection. Canada Life Segregated Funds combine professionally managed investments with insurance features that can help protect your savings. Unlike traditional mutual funds, segregated fund policies are insurance contracts that offer maturity and death benefit guarantees, subject to the terms of the policy and the guarantee level selected. Canada Life offers a wide selection of segregated fund solutions across multiple asset classes and investment strategies, allowing investors to build diversified portfolios aligned with their financial goals and risk tolerance. Depending on the policy selected, guarantee levels of 75/75, 75/100 or 100/100 may be available.

• Guaranteed Interest Accounts (GIA)

  Stability, security and guaranteed growth. A Canada Life Guaranteed Interest Account (GIA) provides a guaranteed rate of interest for a specified investment term, helping investors preserve their capital while earning predictable returns. GIAs are designed for individuals seeking stability, security and protection from market volatility. Your principal and interest rate are guaranteed for the selected term, allowing you to plan with confidence. Canada Life offers a variety of term options to help meet different investment objectives, whether you're saving for retirement, generating stable growth or diversifying your portfolio. Guaranteed Interest Accounts may be held within eligible registered and non-registered investment plans, depending on the product and account type.

• First Home Savings Account (FHSA)

  Save for your first home while enjoying valuable tax advantages. A First Home Savings Account (FHSA) helps eligible first-time home buyers save for the purchase or construction of their first home. It combines two valuable tax advantages—tax-deductible contributions and tax-free qualifying withdrawals—making it one of Canada's most effective savings vehicles for future homeowners. Canada Life offers eligible investment solutions that can be held within an FHSA, allowing you to build your savings while choosing investments that align with your financial goals and time horizon. Eligible investments may include products such as Segregated Funds and Guaranteed Interest Accounts (GIAs), depending on your selected investment solution. Whether you're planning to buy your first home in the near future or several years from now, an FHSA provides a flexible way to save while benefiting from the tax advantages available under current Canadian legislation.

• Tax-Free Savings Account (TFSA)

  Grow your savings tax-free. A Tax-Free Savings Account (TFSA) is a registered savings and investment account that allows eligible Canadians to grow their investments tax-free. Investment income earned within a TFSA—including interest, dividends and capital gains—is generally not taxed, and qualified withdrawals are typically tax-free under current Canadian tax legislation. Canada Life offers a variety of eligible investment solutions that can be held within a TFSA, including Segregated Funds, Guaranteed Interest Accounts (GIAs) and other eligible investment products. This flexibility allows you to build a diversified investment strategy while taking advantage of the TFSA's tax benefits. A TFSA can be used for many financial goals, including retirement planning, emergency savings, major purchases or long-term wealth accumulation.

• Registered Retirement Savings Plan (RRSP)

  Save for retirement while benefiting from valuable tax advantages. A Registered Retirement Savings Plan (RRSP) is a registered investment account designed to help Canadians save for retirement. Contributions made to an RRSP may be tax-deductible, subject to your available contribution room and applicable tax rules. Investments within the account grow on a tax-deferred basis until withdrawn. Canada Life offers a variety of eligible investment solutions that can be held within an RRSP, including Segregated Funds, Guaranteed Interest Accounts (GIAs) and other eligible investment products. This flexibility allows investors to build a retirement strategy based on their financial objectives, investment horizon and risk tolerance. An RRSP is one of Canada's most widely used retirement savings vehicles and can play an important role in building long-term financial security.

• Locked-in Retirement Account (LIRA)

  Keep your retirement savings protected for the future. A Locked-in Retirement Account (LIRA) helps preserve the pension savings you've earned through your employer when you leave your job. If you're eligible to transfer the value of your workplace pension, moving those funds into a LIRA allows your retirement savings to remain invested while staying protected for their intended purpose—providing income in retirement. Because a LIRA is locked-in, funds generally can't be withdrawn before retirement except where permitted under applicable pension legislation. While your savings remain invested, you can work with your advisor to choose investment solutions that align with your retirement objectives and risk tolerance. Canada Life offers eligible investment solutions that can be held within a LIRA, including Segregated Funds and other qualifying investments, helping you continue building your retirement savings until you're ready to convert them into retirement income.

• Life Income Fund (LIF)

  Use your pension or LIRA savings for retirement income. A Life Income Fund (LIF) helps you turn the savings accumulated in your workplace pension plan or Locked-in Retirement Account (LIRA) into retirement income. It offers the flexibility to receive income while keeping your remaining savings invested, giving your investments continued potential for growth throughout retirement. With a Canada Life LIF, you work with your advisor to choose eligible investments that suit your retirement objectives. Each year, you must withdraw an amount within the minimum and maximum limits established under applicable pension legislation. This approach provides flexibility while helping your retirement savings continue working for you. A Life Income Fund can be an effective retirement income solution for Canadians who want to maintain investment control while creating a flexible stream of retirement income from their locked-in pension savings.

• Registered Retirement Income Fund (RRIF)

  Convert your retirement savings into flexible income. A Registered Retirement Income Fund (RRIF) is designed to help transform your retirement savings into a flexible source of income. As you move from saving for retirement to living in retirement, a RRIF allows you to continue investing your money while receiving regular withdrawals to support your lifestyle. Unlike an RRSP, which is focused on accumulating retirement savings, a RRIF is designed to provide retirement income. Your investments continue to grow on a tax-deferred basis while they remain in the account, and you have flexibility to determine how much income you receive above the government-required minimum annual withdrawal. Canada Life offers a wide range of eligible investment solutions for RRIF accounts, including Segregated Funds, Guaranteed Interest Accounts (GIAs) and other qualifying investments, allowing you to build a retirement income strategy that reflects your financial goals and retirement needs.

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  Non-Registered Investments

  Save for any goal with greater flexibility. A Non-Registered Savings Plan (NRSP) gives you the flexibility to continue investing when you've reached the contribution limits of your registered accounts, such as your RRSP or TFSA. Whether you're building additional retirement savings, planning for a major purchase or working toward another financial milestone, an NRSP helps you keep growing your investments without annual contribution limits. Unlike registered plans, an NRSP isn't subject to government contribution limits, allowing you to contribute as much and as often as you choose. You also have the flexibility to access your money whenever you need it, making this account suitable for both long-term investing and future financial goals. Canada Life offers a broad range of eligible investment solutions that can be held within a Non-Registered Savings Plan, including Segregated Funds, Guaranteed Interest Accounts (GIAs) and other investment options designed to support your financial objectives.

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  Annuities

  Create a reliable source of retirement income. A Canada Life Annuity is an insurance product designed to convert your savings into a predictable stream of income. Whether you're planning for retirement or looking to supplement other retirement income sources, an annuity can provide payments for a fixed period or for life, depending on the option selected. Canada Life offers several annuity options to help meet different retirement income needs. Payments may begin immediately or at a future date, depending on the product selected. Income can be structured for a single life or for two lives (joint life), and certain options may include a guaranteed payment period, subject to the terms of the contract. Annuities can help reduce uncertainty by providing dependable income throughout retirement while supporting long-term financial planning.

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