Life Insurance in Calgary: Best Quotes from 20+ Life Insurers

LSM Insurance has been helping individuals and businesses in Calgary with their life insurance and living benefits needs for more than 25 years. Whether you are a small business in need of group insurance, an entrepreneur looking for a plan administrator for a HSA, or an individual wanting to protect their financial future, LSM is here for you.

Get a free, tailored life insurance quote in Calgary

    Life Insurance in Calgary: Background

    Calgary, AB, Canada

    Insurance products we offer in Calgary:

    • Medical Life Insurance
    • No Medical Life Insurance
    • Mortgage Insurance
    • Funeral Insurance
    • Disability Insurance and Income Replacement Insurance
    • Critical Illness Insurance
    • Health Insurance
    • Group Insurance for Organizations

    Calgary is a city in transformation. The last few years have seen everything from natural disasters to energy companies with head offices downtown pulling away, to a global pandemic and an economic dip fueled by world events. But Calgarians are resilient and resourceful! The downtown core is seeing more mixed-use and residential options, the city is becoming known as a haven for the tech industry, and plenty of individuals are starting up or investing in their own businesses. Life insurance and living benefits helps businesses and individuals in Calgary plan for their future, knowing that no matter what the economy or weather throws at them, there is help to weather the storm.

    Our Life Insurance Brokers in Calgary

    Broker
    Years of Experience
    Specialties
    Languages spoken

    Richard Parkinson

    Years of Experience:
    Over 20 years
    Specialties:
    • Life Insurance
    • Disability Insurance
    • Critical Illness Insurance
    • Long-Term Care Insurance
    • Annuities
    Languages:
    • English

    Bill Harvey

    Years of Experience:
    Over 25 years
    Specialties:
    • Life Insurance
    • No Medical Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Health Insurance
    Languages:
    • English

    Darlene Minogue

    Years of Experience:
    Over 20 years
    Specialties:
    • Life Insurance
    • No Medical Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Health Insurance
    Languages:
    • English

    Rob Muir

    Years of Experience:
    Over 20 years
    Specialties:
    • Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Long-Term Care Insurance
    Languages:
    • English

    Malcolm Setter

    Years of Experience:
    Over 6 years
    Specialties:
    • Life Insurance
    • No Medical Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Health Insurance
    Languages:
    • English

    Lloyd Keating

    Years of Experience:
    Over 35 years
    Specialties:
    • Life Insurance
    • No Medical Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Health Insurance
    Languages:
    • English

    Philip Setter

    Years of Experience:
    Over 7 years
    Specialties:
    • Life Insurance
    • No Medical Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Health Insurance
    Languages:
    • English

    Angie Gurney

    Years of Experience:
    Over 10 years
    Specialties:
    • Life Insurance
    • No Medical Life Insurance
    • Disability Insurance
    • Critical illness Insurance
    • Health Insurance
    Languages:
    • English
    The Insurance Consultants listed above are independent brokers and not employees of LSM insurance or representing LSM Insurance.

    Life Insurance Licensing in Calgary

    The Alberta Insurance Council oversees the licensing and regulation of insurance agents, brokers, and independently licensed adjusters in Calgary, and across the province. You can find a list of licensed agents, brokers, and adjusters on their website.

    Interested to find out Life Insurance or Living Benefits rates in Calgary?

    Key life insurance types in Alberta

    Term Life Insurance Quote

    Term life insurance in Calgary is the cheapest policy. It is used to cover a risk with a start and end date. For example, term is ideal to cover the years you make mortgage payments. The numeral denotes when the coverage ends. For example, Term 10 expires in 10 years. With each renewal, the premium goes up, so it’s best to lock in as long of a term as necessary if you are insuring a long-term risk. A healthy 35 year-old male non-smoker can get $500,000 of coverage in a Term 10 policy for around $20.57/month.

    Term 100 Insurance Quote

    Term 100 in Calgary is a form of permanent insurance. Unlike other term policies, it does not expire. It covers you to age 100. It is also known as pure insurance because, unlike other forms of permanent insurance, it does not come with a cash savings account or other built-in perks. A healthy 35-year old female non-smoker can get a $200,000 Term 100 policy starting at $118.80/month.

    Whole Life Insurance Quote

    Whole life insurance in Calgary is a form of permanent insurance. It comes with a guaranteed interest cash saving account that you can leverage with a policy loan. This is an ideal tool for anyone in Calgary to combine insurance with long-term financial planning. A healthy 30-year old female non-smoker can get $200,000 of coverage in a whole life policy for around $102.60/month, but these are very nuanced policies; it should be set up with a licensed professional in order to remain compliant with CRA.

    Universal Life Insurance Quote

    Universal life insurance in Calgary is an option that sits between Term 100 and whole life. The investment is not guaranteed, and it can be withdrawn instead of loaned. It also comes with a variable premium (a max/min monthly) that you can adjust based on your immediate financial needs and your long-term goals. With these options, the premium will vary based on your choices and risk factors.

    Simplified Life Insurance Quote

    Many people in Calgary that have been declined or rated for common health issues (obesity, stroke, etc.) feel like they cannot get insurance. This is not true! Simplified issue was created to insure those with existing health conditions. While it costs a little more than fully underwritten insurance, in most cases it is quick and easy to get and the premiums are affordable. There is no medical exam required, just some general health questions. A 40-year old male can get $250,000 of simplified term coverage for around $63/month.

    Guaranteed Life Insurance Quote

    Guaranteed issue life insurance in Calgary does not require a medical exam, and there are no health questions to answer. The insurer assumes all the risk, and this is reflected in the premium. It is expensive and the coverage caps are low. It also has a two-year deferral, meaning the claim will not pay out if the life insured passes from any reason other than an accident. Why, then, would anyone in Calgary want guaranteed issue life insurance? Despite it being more expensive than term, it is affordable and for many, it is the only policy standing between their family being left with something, or nothing. Guaranteed issue life insurance in Calgary is ideal for anyone with a serious health condition that impacts lifespan, for those looking to cover final expenses, or for funeral expenses. If you do not qualify for traditional or simplified insurance, talk to a broker about guaranteed insurance.

    Other Life Insurance types

    Living benefits, such as critical illness insurance, disability insurance, or health benefits in Calgary, pay out while the life insured is still alive. Most policies can also be customized with optional riders. With so many life and living benefit options, it is best to consult with a broker to ensure you are getting the coverage you need, in your budget. The services of a broker are free, and using one can save you time and money.

    Life Insurance rates in Calgary: Sample

    Life insurance in Calgary depends on many factors, including your health, age, family health history, and even the length of your commute. The samples below show average quotes, but to get the best premium and coverage, speak with a broker. Brokers shop the market – for free – on  your behalf. There is no need to sift through dozens of options when qualified brokers in Calgary are standing by to help.

    Term 10 life insurance for a 35-year old male, non-smoker, with no serious health conditions, for coverage of $200,000
    $25.56/month
    Term 20 life insurance for a 30-year old female, non-smoker, with no serious health conditions, for coverage of $200,000
    $21.69/month
    Whole life insurance for a 25-year old male, non-smoker, with no serious health conditions, for coverage of $100,000
    $90.27/month
    Simplified life insurance for a
    45-year old female, non-smoker, using simplified because of a health condition. Coverage of $50,000
    $14.76/month (for a term policy)

    Disclaimer: Remember, life insurance rates in Calgary are highly dependent on many factors, and policies can be customized with riders, coverage caps, etc.

    Other Living benefits products in Calgary

    Disability Insurance Quote

    Disability insurance in Calgary protects your income when you cannot work due to an accident or some forms of serious illnesses. Always have an insurance professional set up your disability insurance as this nuanced policy has many determining factors, including the fact that you cannot collect more than about 85% of your income no matter how many policies you have. Rates for disability insurance are driven by your class of occupation.

    Critical Illness Insurance Quote

    Did you know your risk of serious illness is higher than your risk of premature death? Not all critical illnesses are fatal, but they still are a detriment to your income. Critical illness insurance in Calgary is a living benefit that pays out on the diagnosis of an illness named in the policy. The tax free lump sum is yours to do with as you please. Rates vary depending on policy type; some cover three conditions while others cover 25+.

    Health & Dental Insurance Quote

    Health insurance in Calgary helps with the cost of medication, dental care, and paramedical services. This coverage is designed around packages that focus on prescriptions, or dental, or a combination of both. Tiers are priced based on coverage levels.

    Other Living benefits

    Living benefits include any benefit paid to you while you are still alive. In addition to disability, critical illness, and health insurance, this includes riders that advance a portion of the benefit upon diagnosis of a serious illness, or riders that return your premium if you do not pass away within a certain number of years.
    Interested to find out Life Insurance or Living Benefits rates in Calgary?

    Frequently Asked Questions about Alberta Life Insurance

    Life insurance rates in Calgary depend on the type of policy you choose, your health, your age, and other factors. Term life insurance is the cheapest type. A healthy 35-year old male non-smoker can get $500,000 of coverage for as low as $20.57.

    Life insurance in Calgary is available through brokers, agents, online, over the phone, or through group/association membership programs. Banks also offer insurance, but in these cases the bank is typically the beneficiary, not your family. A broker shops the market on your behalf, so you don’t have to compare rates and coverage on your own.

    The Alberta Insurance Council oversees the licensing and regulation of insurance agents, brokers, and independently licensed adjusters in Calgary, and across the province. You can find a list of licensed agents, brokers, and adjusters on their website.

    Disability insurance in Calgary is a part of many employee group benefit programs, but can also be purchased as an individual policy from an agent or broker. Banks offer disability insurance. It is often called debt, loan, or mortgage insurance, and the bank is the beneficiary. Consult with a broker to set up your disability insurance in Calgary.

    Interested to find out Life Insurance or Living Benefits rates in Calgary?