Top Health Insurance Companies in Canada

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top life insurance companies in canada
top life insurance companies in canada

1-Manulife Financial | Manulife Life Insurance

Manulife Financial’s disability insurance lineup has five products. Their Proguard Series is geared toward professionals. This is their flagship policy, and includes many built-in features. The plan has elimination periods from 30 days to 2 years. Benefit periods range from 2 years, 5 years and to age 65. The insured’s benefit can range from $200 to $24,500 a month.

The Proguard plan also offers a whole host of riders, including a cost of living rider to keep in line with inflation; a specific occupation rider for specialized occupations such as surgeons; and variety of return of premium riders that allow the insured to receive some of their premium back for staying healthy.

Another of Manulife’s disability plans is the Venture Series—a lower cost disability plan which fits the needs of all types of occupations. The Venture plan has less standard features than the Proguard series, but is available for full-time and part-time workers.

The ExpenseComp plan reimburses office overhead expenses for a small business or professional practice during disability. This plan has a maximum benefit period of 24 months.

Manulife’s Buy-Sell Plus provides funds for the healthy owners of a partnership or small business to buy out the shares of a disabled partner. The plan is unlike traditional disability coverage in that it pays out a lump sum rather than a monthly benefit.

AM Best Rating: A+ (Superior)

Assets: $483.19 billion

Net Income: $1.7 billion

Insurance Sales: $2.3 billion

Financial Size Category: XV ($2 Billion or greater)

FSR Outlook: Stable

Best’s Issuer Credit Rating: a-

ICR Outlook: Stable

As of Date: 12/20/12

Organization Type: Stock

Specialty Lines of Business: Life, Living Benefits, Mutual Funds, Private Wealth Management, Annuities, Guaranteed Interest Contracts, High Interest Savings Accounts, Mortgages & Investment Loans, Group Life, Health, Disability & Retirement, Travel Insurance, Creditor Insurance, International Employee Benefits Management.

Marketing Type: Independent Agency Broker

*Information courtesy of AM Best Key Ratings Guide 2013 and Manulife Financial’s Annual Report 2012


250 Bloor St. East Main C-28
Toronto, Ontario
N2J 4C6

Toll Free: 1-888-626-8543
In Quebec: 1-888-626-8843
Phone: 519-747-7000
Fax: 519-747-6116

Email Address:

* Info courtesy of AM 2011

*Manulife Q4 2011 Fact Sheet

2-Great-West Life Assurance Company:

The Great-West Life Assurance Company is recognized as a leading financial services provider. It is through financial contributions and volunteer work of the staff and advisers that the company builds strong communities like their Key to Giving program, which provides financial support to health-based, non-profit organizations.

The members of the company can be assured that they receive the necessary individual products such as life, disability, critical illness, health and dental insurance, and services such as retirement and investment planning. One of their most interesting products within retirement and investment planning is the Residential Mortgage by which customers are offered tailored products by the team’s mortgage planning specialists. Mortgage life insurance enables you to add life insurance to your mortgage.

If launching a small, medium or large business, Great-West offers a variety of group benefits for your company, such as health and dental care, wellness and disability, life benefits, international benefit plans, accidental death and dismemberment benefits. The International Benefit Plan offers members the opportunity to insure their employees when in the U.S. or oversees, or employees from a foreign country. In addition, Great-West Life’s members enjoy the largest network of group retirement services advisers across Canada.

AM Best Rating: A+(Superior)

Assets: $46.987 billion

Net Income: $1.7 billion

Net Premiums Written: $4.377 billion

Financial Size Category: XV (2 billion or greater)

FSR Outlook: Stable

Best’s Issuer Credit Rating (ICR): aa

ICR Outlook: Stable

As of Date: 07-02-2013

Organization Type: Stock

Specialty Lines of Business: Group A&S, Group Life Insurance, Variable Annuities

Marketing Type: Independent Agency Broker


Great-West Life Assurance Company
100 Osborne Street North
Winnipeg, Manitoba
R3C 3A5

Toll Free: 1-800-665-0551
Phone: 204-946-1190
Fax: 204-946-7838

Web Address:
Email Address:

* Info courtesy of AM Best’s Key Ratings Guide 2013

3-UL Mutual Company:

President & CEO: Jacques Desbiens

AM Best Rating: Not Rated

Total Assets:  $1.7 billion

Net Income: $16.4 million

Assets Under Management: n/a

Net Premiums Written:  $121 million

Mutualists Equity: $178.9 million

Number of Insureds: 300,000

Financial Size Category: n/a

FSR Outlook: n/a

Best’s Issuer Credit Rating: n/a

ICR Outlook: n/a

As of date: n/a

Organization Type: Mutual Company

Specialty Lines of Business: Annuities, Life, Living Benefits, Investment, Retirement

Marketing Type: Broker

Life Insurance Product Portfolio: Non-participating and limited-pay whole life, Year-to-term cost of insurance, term-to-100, term life.

Living Benefits Product Portfolio: Critical illness, group benefits

Compliance Head: Eric Timmons

Privacy Policy:

UL Mutual Head Office
142 Heriot
P.O. Box 696
Drummondville (Quebec)
J2B 6W9

4-Canada Life Insurance Company:

Canada Life, a subsidiary of The Great-West Life Assurance Company, offers its customers a variety of insurance and investment products for both groups and individuals. One of Canada Life’s most interesting products is Participating Life, insurance which combines life insurance protection with a tax-advantaged investment component; as long as premiums are paid it guarantees a high level of protection throughout one’s whole life.

The company also offers term life and universal life protection. Their Universal Life plan has multiple cost of insurance (COI) options, including increasing,level and limited pay COI. Canada Life is a leading provider of health insurance solutions, including a wide variety of critical illness and disability insurance solutions.

AM Best Rating: A+ (Superior)

Total Assets: $42.59 billion

Net Income: $1.1 billionApple-style-span” style=”color: #333333;”>

Net Premiums Written: $4.2 billion

Financial Size Category: XV ($2 billion or greater)

FSR Outlook: Stable

Best’s Issuer Credit Rating: aa

ICR Outlook: Stable

As of Date: 07-02-2013

Organization Type: Stock

Specialty Lines of Businesses: Life Insurance, Annuities, Accident and Sickness

Marketing Type: Independent Agency Broker


Canada Life Assurance Company
1901 Scarth Street
Regina, SK
S4P L44

Toll Free: 1-888-252-1847
Phone: 416-597-6981
Fax: 416-204-2369

Web Address:
Email Address: N/A


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