Get the life insurance in Quebec you need. At the right price.
Quebecois families can save big with term life insurance from PolicyMe
Compare term life insurance quotes
Average starting term life insurance cost for $500,000 over 20 years
Age | Premiums For Women | Premiums For Man |
|---|---|---|
30 | $20.68 | $29.67 |
35 | $22.93 | $31.29 |
40 | $33.27 | $44.96 |
45 | $51.25 | $71.49 |
Get term life insurance on your own terms.
How much does life insurance cost in Quebec?
The monthly cost of life insurance in Quebec can range from $15 to $100. Factors like age, whether you smoke, gender, the kind of policy you choose, and your health history can influence this cost.
Typically, if you're a man, a smoker, have health conditions, are older, or opt for whole or universal policies, you might have to shell out more. In some situations, the monthly premium could be several hundred dollars (albeit rare).
The best life insurance companies in Quebec
Learn more about your options for the best life insurance Quebec has to offer.
Best for | Company |
|---|---|
Blue Cross members | Blue Cross |
CAA members | CAA |
Cash value life insurance | Sun Life |
Laddering policies | Wawanesa |
Permanent life insurance | Manulife |
Seniors & pre-existing conditions | Canada Protection Plan |
Smokers | Empire Life |
Smokers | IA Financial |
Term life insurance | PolicyMe |
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Affordable life insurance for Quebecois families…
Plus an easy-peasy application process!
Why are our policies so affordable? Here’s why:
Roughly 40% of an insurance policy's cost goes toward distribution and underwriting costs.
We've cut out unnecessary admin tasks and extras with technology and pass those savings onto you.
You'll still get fully underwritten, high-quality life insurance, but at a more affordable price.
Quick facts about Quebec life insurance
Most Quebecers said they’d buy online1
82% said they are likely or very likely to buy a life insurance policy online.
Lower coverage amount than most of Canada2
The average coverage amount that households in Quebec have is $374,000. The national average is $431,300.
Quebecers wait longer for a policy2
The median age of a Quebecois person with life insurance is 43 – the average median age in Canada is 41.
Almost half rely on work for coverage1
48% of Quebecers have life insurance coverage through their employer.
6.5M Quebecers have life insurance3
The second most covered residents in Canada (Ontario has 8.4M).
Policies are provincially and federally regulated
The Autorité des marchés financiers (AMF) and The Government of Canada regulate life insurance in Quebec.
1 Canadians and Money Survey, PolicyMe & Angus Reid
2 Canadian Life & Health Insurance Facts, 2022 Edition
3 Canadian Life and Health Insurance Association, Provincial Facts and Figures, 2021 Edition
How do you get life insurance in Quebec?
1. Choose the type of life insurance
Got short-term concerns like kids who rely on you for income or big loans such as a mortgage? Term life insurance might be your best bet. Dealing with long-term issues like dependents who'll always need support or intricate estate plans? You're likely looking at permanent life insurance, like whole or universal. But remember, it's smart to consult a licensed insurance expert to be certain.
2. Find the best life insurance companies in Quebec
Search for well-known insurance providers in Quebec. Check out their online reviews and dig into their reputation and financial health. In addition, you can choose to work with a broker or do research yourself.
3. Compare life insurance policies and coverage options
Check if the company you've looked into offers the kind of policy you're after, like term, whole, universal or no medical life insurance. Do they provide the coverage amount or policy duration you need? Any special features or add-ons you want?
4. Calculate how much coverage you need
Not sure if you need coverage of $100,000 or $1M+? Think about how much your family would need financially if you were no longer around. A rough rule of thumb is multiplying your yearly income by 7-10 times. But don't just rely on that; use a life insurance online calculator.
5. Apply for your chosen life insurance policy
Complete an application form; you can do this online or with the help of an agent. You should also make sure to provide correct personal details like your name, ways to get in touch with you, your birthday, and any important info about your lifestyle or health.
6. Provide additional information if needed
Certain insurance life insurance companies in Quebec might require you to provide medical records, take a health check-up, or respond to questions about your health. You'll also need to gather any important paperwork, like ID proof, proof of your earnings, or information about who would receive the death benefit.
7. Wait for approval and get the official premium rate
The insurance provider will check out your application, evaluate your health-related risks and set the premium cost using factors like your age, health status, way of life and the coverage amount you want. You might get the thumbs up, be asked for more information before they can decide or get a thumbs down.
8. Review and sign your life insurance policy
After your application gets the green light, make sure to read the policy terms and conditions in your contract before you sign it. Get familiar with the details of your coverage, when you need to pay your premium, who benefits and any specified exclusions or limits.
FAQ: All about life insurance in Quebec
To get life insurance in Quebec, you must be at least 18 years old and have legal capacity. You may also need to complete a health questionnaire or undergo a medical exam, depending on the type of policy you want. Some insurers may also require additional evidence of insurability such as blood tests, urine tests or EKGs.
On the other hand, some companies won’t need much from you to approve your application – but usually these types of policies come at a cost (i.e. “no medical” life insurance or simplified issue life insurance).
Yes, you should be able to cancel your life insurance policy at any time in Quebec. However, you may be subject to cancellation fees or penalties depending on the terms of your policy or your provider’s protocol for cancellation. It is important to review your policy carefully and consult your insurer before canceling it.
No, life insurance isn't mandatory in Quebec. But here's the thing: it's a pretty smart move to consider it because life insurance is like a safety net for your loved ones if something unexpected happens to you. It could help cover expenses like mortgage payments, college tuition, or even day-to-day living costs.
While it's not legally required, it can offer peace of mind knowing that your family would be financially secure without your income.
To file a claim, you will need to contact your insurance provider and provide them with the necessary information and documentation. This may include a death certificate, medical records and other relevant documentation.
Your insurer will then review your claim and determine whether your policy covers it. If your claim is approved, your insurance provider will pay out the benefit amount specified in your policy.
Learn more about life insurance in other Canadian regions
Life insurance by province
Life insurance by city
