CAA Life Insurance Review 2025
CAA Life Insurance offers coverage options from $100,000 to $5 million, with exclusive 10% member discounts on premiums. From term life to guaranteed coverage, you can easily compare CAA life insurance rates and get a personalized quote online in seconds. But is it the right choice for you?
This CAA life insurance review covers everything you need to know, including coverage options, pros and cons, rates, coverage for seniors, and more. You can also use our free tool to compare life insurance quotes from multiple providers to make sure you're choosing the best coverage for you and your loved ones.
CAA Life Insurance: 5 Key Points
- CAA partners with Securian Canada to offer life insurance at affordable prices
- Get $100,000 to $5 million in term life insurance coverage
- You can save 10% on premiums as a CAA Member
- $10,000 of free life insurance for each of your children
- CAA life insurance rates are available online and easy to get
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Our CAA life insurance review: A good option for CAA members
CAA Life Insurance offers a range of accessible products, including term life insurance from $100,000 to $5 million and guaranteed issue policies up to $25,000. Members enjoy a 10% discount on premiums, making it an attractive choice for straightforward coverage.
Term policies are flexible, with 10- to 30-year terms, and guaranteed issue plans cater to individuals aged 40 to 75, requiring no medical exams. CAA also provides permanent life insurance options, but these are available only in select provinces, such as Alberta and the Northwest Territories, through the Alberta Motor Association (AMA).
Specific details about permanent life insurance options require you to consult a CAA advisor for clarity. This lack of detailed information could make it less appealing for those looking to explore comprehensive lifetime coverage.
CAA is best for families, small business owners, or individuals with pre-existing conditions seeking quick, no-hassle policies. However, for those requiring highly customizable or investment-linked products, competitors like Sun Life or Canada Life offer more robust options.
Expert advice
CAA Life Insurance is an excellent choice for straightforward, affordable coverage, especially for those who value ease of enrollment and member discounts. However, for individuals requiring tailored coverage or long-term investment options, competitors like Sun Life or Canada Life may provide better alternatives. The simplicity and accessibility make it ideal for families or middle-aged Canadians planning for immediate financial security.
If you’re looking for accessible coverage with exclusive member benefits and basic lifetime protection in select provinces, CAA Life Insurance could be the right fit. For complex needs or broader options, comparing plans is a smart move. Use our comparator below to compare coverage and get free personalized quotes from Canada's best life insurance companies.
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Advantages of CAA Life Insurance Canada
- Coverage ranges from $100,000 to $5 million
- 10% discount for CAA members
- Guaranteed issue plans available for ages 40–75
- No medical exams for guaranteed policies
- Straightforward online application process
Disadvantages of CAA Life Insurance Canada
- Some policies cannot be renewed if you move outside your purchasing province
- Universal and whole life policies not widely available
- Less customization options
- May not suit complex long-term financial planning needs
Who offers CAA life insurance?
As of January 1, 2024, CAA Life Insurance products are now underwritten by Canadian Premier Life Insurance Company, operating as Securian Canada. This marks a transition from previous underwriting by Manulife. Existing policies underwritten by Manulife remain in effect, but all new policies are issued through Securian Canada.
How much does CAA life insurance cost?
CAA life insurance costs are determined using several variables including age, gender, smoking status, coverage amount, and policy type. CAA life insurance rates are very transparent and can be obtained on each province's dedicated CAA website.
For CAA life insurance rates, simply review the table below. The premiums are calculated considering a death benefit of $250,000 for non-smokers on a 10-year Term Life policy.
Age | Female | Male |
---|---|---|
25 | $11.70 | $16.20 |
30 | $11.70 | $16.20 |
35 | $12.60 | $16.40 |
40 | $16.20 | $18.70 |
45 | $21.40 | $26.60 |
50 | $30.90 | $39.50 |
55 | $45.80 | $57.10 |
60 | $70.40 | $93.20 |
What types of life insurance does CAA offer?
CAA Term Life Insurance
This policy offers coverage for a specified term, typically between 10 to 30 years, ensuring that your beneficiaries receive a tax-free lump sum in the event of your passing. This payout can be utilized to cover daily expenses, tuition fees, childcare, mortgage payments, and funeral costs, providing peace of mind that your family's financial needs are met.
- Flexible Coverage Amounts: Choose between $100,000 to $5 million in coverage to suit your financial requirements.
- Exclusive Member Savings: CAA Members enjoy a 10% discount on premiums, with couples receiving an additional 10% off in the first year.
- Complimentary Child Coverage: Each child is eligible for $10,000 in free coverage, extending protection to your entire family.
- Rate Stability: Premiums are locked in for the entire term, ensuring consistent payments without unexpected increases.
- Combined Application: Apply for both CAA Term Life Insurance and CAA Critical Illness Insurance simultaneously for added convenience.
Good to know
It's important to note that while core products like CAA Term Life and Guaranteed Issue Life Insurance are broadly available, offerings such as Whole Life and Universal Life Insurance are limited to specific provinces. Additionally, underwriting partners may differ by region, affecting product availability and terms. Consult your local CAA branch or a licensed insurance advisor for province specific information.
The company also offers two types of whole life insurance policies named CAA Lifetime Protection and CAA Guarantee Issue.
Guarantee Issue Life Insurance
CAA Guarantee Issue life insurance is a simplified whole life insurance product offered by all branches of the company, regardless of the province. It is a good life insurance product specifically designed for Canadian residents aged 40-75 who cannot get life insurance elsewhere. As the name indicates, every applicant is guaranteed life cover regardless of health history, with a death benefit ranging from $5,000-$25,000.
Key features of the policy are
- No medical exam is required
- Guaranteed coverage for life
- Guaranteed premiums
- Premium payments stop after age 95
- Eligibility from 40-75
- Coverage from $5,000-$25,000
CAA life insurance for seniors
The Guaranteed Issue Life Insurance is a good option for Canadian seniors up to 75, especially for those who don't want the hassle of medical exams but still need some form of coverage. The term life insurance option is also available up to age 75 but may require medical exams if you're above 40. While these plans are accessible and straightforward, seniors seeking more comprehensive or investment-linked options may need to explore other providers.
Universal Life Insurance
CAA's universal life insurance is only offered by the CAA AMA Alberta branch which also extends to the Northwest Territories and Nunavut. This product is much more complex than whole life insurance but also offers guaranteed coverage while including the ability to invest in tax-free funds that may increase the value of your death benefit.
CAA universal life key features include
- Guaranteed cover for life
- Ability to invest in tax-advantaged funds
- Flexible premiums
- Ongoing increase in death benefit
Watch out!
It should be noted that policies bought through the company in one province, for example, CAA Life Insurance Ontario, may or may not be transferable upon relocation to another province, like BC. You must ask your advisor if your policy is both transferable and renewable if your residence changes.
How to get a CAA life insurance quote?
Obtaining a CAA life insurance quote is a straightforward process:
- Online Quote: Visit the CAA Life Insurance page to access their online quote tool.By providing some basic information like your age, province, coverage you need, and smoking status, you can receive a personalized quote in about 60 seconds.
- Speak with an Advisor: For tailored advice, call 1-866-714-9007 to connect with a licensed, non-commissioned CAA insurance advisor.They can assist you in selecting the appropriate coverage and provide a detailed quote.
- In-Person Consultation: Visit your local CAA branch to discuss options and obtain a quote directly from an advisor.
But before you decide upon CAA, we recommend that you compare options from other providers. You can use our free tool below to compare personalized life insurance quotes from Canada's best companies. Get over 20 quotes today.
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How to contact CAA life insurance customer service?
Here are CAA life insurance phone numbers based on your province of residence.
Branch | Contact Details |
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Alberta Motor Association (AMA) |
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British Columbia Automobile Association (BCAA) |
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CAA Club Group (CCG) |
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CAA Atlantic |
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CAA Niagara |
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CAA North & East Ontario |
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CAA-Quebec |
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CAA Saskatchewan |
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How much life insurance do I need?
One of the hardest things when looking to buy life insurance is trying to calculate how much coverage you need to keep your family financially safe if the unexpected happens. That’s why HelloSafe developed a life insurance calculator to help you figure out exactly how much life insurance coverage you need.
How are CAA insurance reviews from customers?
Customer reviews for CAA Life Insurance are limited, but we found feedback on overall CAA Insurance services that can provide some insights. Platforms like the Better Business Bureau (BBB) and Mitch Insurance include reviews highlighting both positive and negative customer experiences, though these cover all insurance products, not exclusively life insurance.