Get Great-West Life Assurance Company Quote and compare to other companies

Get a Life Insurance Quote Now

    Great-West Life Assurance Company: Overview


    Great-West Life Assurance Company is one of three largest Canadian life insurance companies (with other two being Manulife Financial and Sun Life Assurance Company). Great-West Life Assurance Company, similar to other Canadian life insurance companies, offers numerous products targeting clients with various insurance needs. 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 insurance, 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.

    In 2019 all three brands owned by Great-West Lifeco (Great-West Life Assurance, London life Insurance, and Canada Life Financial have announced about one single branding as Canada Life.
     

    Great-West Assurance Company : Products

    Great-West Life Assurance Company products can be grouped into 5 key categories

    1. Individual Insurance
    • Term Life Insurance
    • Participating Life Insurance
    • Universal Life Insurance
    • Disability Insurance
    • Critical Illness Insurance
    • Health and Dental insurance
            2.Wealth Management
    • Investing and Saving (e.g. Mutual Funds, Segregated Funds, Savings options, Estate Protection, etc.)
    • Retirement Income (e.g. Income Annuities, Guaranteed Interest Options, HelloLife, Lifetime Income Benefit (LIB)
    • Baking Services
    • Mortgage solutions
    • Brokerage services
            3.Group Benefits
    • Healthcare Benefits
    • Dentalcare benefits
    • Wellness and Disability programs
    • Life and Accidental Death / Dismemberment benefits
    • Other group solutions / plans
    1. Group Retirement
    • Group Retirement and Savings: RPP (registered pension plan), RRSP (registered retirement savings plan), DPSP (deferred profit-sharing plan), TFSA (tax-free savings account), NRSP (non-registered savings plan), EPSP (employee profit-sharing plan), Canada Protection Plan (simplified pension plan), PRPP (pooled registered pension plan), Investment only plan
    • Retirement Income: Annuities, RRIF (registered retirement income fund), LIF (life income fund)
          5.Business owner Insurance
    • Life Insurance
    • Disability Insurance
    • Critical Illness Insurance

     

    LSM Insurance is an Independent Life Brokerage celebrating 25 years in Canada. We are contracted with over 15 leading life insurance companies in Canada, helping make sure you get the best plan at the best price. We are not contracted or affiliated with Great-West Life Assurance .

    Interested to see how Great-West Life Assurance Company rates compare with others?

    Your email address will not be published. Required fields are marked *

    • Four Great disability plans
      June 2, 2008 at 5:09 am

      […] Great-West Life has four disability plans. Their Professional plan is high-end disability insurance geared toward professionals, business owners and key employees. The Boss Plus plan targets business owners who are concerned about cash flow if they become disabled. The Protector plan targets employees, and the Competitor plan offers low-cost disability coverage for people whose occupations or current work situations make it challenging to obtain coverage, such as part-time or seasonal workers. […]

    • Unique characteristics of group insurance providers
      May 28, 2008 at 7:13 am

      […] Great West Life has excellent infrastructure for processing life insurance claims on-line. This saves our clients time and money. Our brokers find, however, that they are not particularly flexible on renewals. The Desjardins head office allows direct communication with brokers, facilitating faster, more efficient communication for our clients. Their renewal formula, however, is complicated and cumbersome to explain. Manulife is very flexible in the small group market. A husband and wife working together in the same business can get a traditional group plan with no underwriting. Head office will not speak directly to brokers, though, who must deal with the divisional office. This slows our response time. Encon offers a large non-evidence maximum on life insurance for groups of three and up. This can be a huge benefit for a small group with an uninsurable employee. Encon, however, uses a third-party administrator to handle claim payment. Empire is well established in the Canadian marketplace. They provide excellent service to their in-force groups. On the downside, they offer only a 12-month rate guarantee on their premiums. Many carriers offer a 16-month rate guarantee. Blue Cross offers excellent name recognition and a 16-month rate guarantee. White fillings are standard in their dental coverage. We think, though, that they could enhance their technology. For example, Blue Cross just recently put in place a pre-authorized system for paying premiums. […]

    • Great-West Life’s Term Policies
      May 19, 2008 at 5:19 am

      […] Great-West Life Assurance Company […]