Life Insurance Endowment Policies in Canada

The popularity of life insurance endowment policies has decreased significantly over the last few decades, and such policies are not offered by the majority of life insurance companies in Canada.

Life insurance endowment policies have a death benefit that is paid out if the insured dies before the endowment period. They also have cash value that equals the policy’s face amount at maturity. These policies are usually participating and pay an annual dividend, which allows the policy owner to share in the profits of the issuing insurance company.

In essence, the cash value at maturity will always be significantly higher than the initial policy face amount. However, these policies were negatively impacted by changes to Canadian tax law in addition to lower interest rates and an increase in investment options for consumers.

For more details on life insurance policies in Canada, please contact us at 1- 866-899-4849 or visit our Whole Life Insurance Quote Page.

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  • LSM Insurance
    October 3, 2011 at 1:05 pm

    Hi Aram,

    We are not aware of any companies offering traditional Endowment policies. Several companies offer Whole Life policies with significant cash values at age 65 or after 20 years. Canada ife, Empire Life, Equitable Life and Assumption LIfe all offer particpating Whole Life policies.

    You can visit our Whole Life quote page

  • Aram
    October 3, 2011 at 12:33 pm

    What companies currently offer endowment policies?