The Best Whole Life Insurance Plans in Canada

As the name describes, whole life insurance provides for the insured’s entire lifetime. The policies can generally be broken down into two types:

Participating Whole Life policies participate in the insurance company’s profits. These plans provide level premiums and lifetime protection, but also have a higher cash-value and an increasing death benefit that is based on the insurance company’s dividend scale.

Non-participating Insurance Policies also provide fixed premiums and lifetime protection. These policies have a lower initial premium, as the death benefit is level, and all values within the plan are generally fully guaranteed.

It is difficult to compare participating Whole Life policies because of their different dividend scales.

However, Non-participating Whole Life Policies are very easy to compare and you can get an instant quote at our Whole Life Insurance Calculator.


Below is a listing of the top five Whole Life Non-participating 20-year Pay policies in Canada, at $250,000.00 for a 40-year-old, male non-smoker.

Manulife: $204.13/month
Western Life: $208.55/month
Empire Life*: $214.20/month
Desjardins*: $226.13/month
L’Excellence: $226.35/month

*Empire Life and Desjardins have the highest guaranteed cash-values after 20 years at $51,500 and $53,900 respectively.

For more details, you can contact us at 1-866-899-4849 or visit our Instant Quote Calculator.

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