Is Cooperators Life Insurance Worth It? Review 2024

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Alexandre Desoutter updated on 11 September 2023

When choosing life insurance, you are taking a crucial step to protect your family's financial future to provide them with security and peace of mind. But, with so many life insurance options available, it can be challenging to find the right policy and insurer.

Among the options you can consider is the Cooperators Life Insurance. But how do you know if it's the right choice for you? We've got you covered.

In this Cooperators Life Insurance review, we take you through its plans, pros, cons, and prices. You can compare other providers and get free life insurance quotes using our comparator so you can decide if Co-operators life insurance is the best option for you or if there's another plan that suits you better.

Cooperators Life insurance: 5 key takeaways

  • A co-op life insurance provider that dates back to the 1940s
  • Range of term and permanent life insurance products
  • Offers comprehensive coverage, especially in term life insurance
  • Relatively higher prices, especially for permanent life insurance or older buyers
  • Online quotes are available for some term life products, but others require contacting the company

Our review on Cooperators Life Insurance: Best option from a co-operative

As a Canadian-owned cooperative, The Co-operators stands out from most life insurance providers. This status lets them be more focused on their communities and their members' well-being than many large for-profit competitors. Besides a wide range of life insurance products, Co-operators is a full-service insurance co-operative that also sells other financial products, including:

  • Home Insurance
  • Auto Insurance
  • Travel Insurance
  • Investment products
  • Group Health
  • Dental benefits

However, as also mentioned in other Cooperators life insurance reviews, the rates are more expensive than some competitors, particularly for permanent life insurance or life insurance products for buyers over 45 years old.

Co-operators Life Insurance could be an excellent choice for those seeking comprehensive term life coverage and value community-focused insurers. However, it may not be the most cost-effective option for those seeking permanent life insurance or for individuals looking for the most budget-friendly coverage.

Co-operators Life Insurance comes with its own share of advantages and disadvantages.


  • Term Life 1 is a short-term coverage option of a year's term life insurance
  • Online quotes available for term life insurance products
  • A complete line of insurance goods
  • Offers a critical illness policy
  • Solid financials


  • Specifics and quotes for permanent policies are not available online and require speaking with a representative
  • Relatively high prices for some types of term life insurance.

If you think Co-operators Life Insurance is the right choice for you, we recommend that you compare how it fares against other life insurance companies. While it may seem like a daunting process, all you need to do is use our comparator below and also get free personalized life insurance quotes from the best providers in Canada.

Compare the best life insurance companies

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Who is the Co-operators Life Insurance?

The Cooperators Life Insurance Company was born out of farming insurance co-operatives in Saskatchewan and Ontario. In the wake of the Great Depression and World War 2, these organizations helped offer stability and recovery for agricultural communities. These organizations quickly grew and expanded beyond their home provinces.

In 1978 the Co-operators Insurance Associations of Guelph and Regina's Co-operative Life Insurance Company merged under the name, The Co-Operators. Today it offers a range of products beyond life insurance and investment products including home, auto, and travel insurance.

The Co-operators is headquartered in Guelph, ON with branches all over Canada. With $20.6 billion in assets, the Co-operators Life Insurance company is a financially stable and popular insurance option.

How much does The Cooperators Life Insurance cost?

Here are the monthly premiums for non-smoking men and women for a $250,000 coverage with The Cooperators Life Insurance company. We look at two types of term life insurance.

Term Life 1

AgeFor womenFor men
Co-operators Term Life 1 prices

Versatile Term 10

AgeFor womenFor men
Co-operators VersatileTerm 10 prices

Co-operators life insurance costs vary depending on the type of life insurance coverage you want and your personal history. For example, your age, smoking and health status, residence, and sex all play a part in determining your life insurance premiums. 

What does the Cooperators Life Insurance cover?

Co-operators Life Insurance coverages vary from product to product and between insureds as well. Below is a comparison of coverage in dollar amounts from every life insurance product provided by the Co-operators insurance company.

Co-operators life insuranceCoverage
Term Life 1
$50,000 to $475,000
Versatile Term
$50,000 to $475,000
Co-operators Whole Life Insurance
starts at $25,000
Universal Life Suite
Coverage that adapts as your life changes
Infinity Term
Starts at $25,000
Responsibility and Responsibility Plus Life
Up to $25,000
Critical Assist
from $25,000 to $2 million
The Co-operators Life Insurance coverages

Co-operators Life Insurance provides coverage for Canadians who want to safeguard their loved ones from the potential financial burden caused by their passing. This type of insurance can by your family to pay for:

  • Paying mortgage and rent payments
  • Covering final expenses, such as funeral costs
  • Providing a survivor's income
  • Paying for higher education and tuition fees

If you would like to see what other life insurance companies have to offer, all you need to do is use our comparator below. You can compare coverages, and various plans offered, and get free tailor-made life insurance quotes from Canada's best providers, all in a few seconds.

Compare the best life insurance companies

Get 20+ quotes in seconds

What types of life insurance are offered by the Cooperators?

From term life to whole, universal life insurance, and no-medical life insurance plans, Co-operators Insurance Life offers a variety of life insurance options.

Co-operators Term Life Insurance

Term life insurance is typically the best choice for those who require security for a specific length of time and are seeking affordable coverage,

You have 2 term plan options with Co-operators: Term Life 1 and Versatile Term. Check the chart below to understand the difference between these 2 types of Co-operators term life insurance.

Co-operators Term Life InsuranceLengthCoverageQuote, apply and buy onlineRenewableConversion optionsAge limit for conversion
Term Life 1
1 year$50,000 to $475,000 Permanent life insurance70 years
Versatile Term
10, 15, 20, 25 or 30 years$50,000 to $475,000
  • Infinity Term®
  • Whole Life Ascend
  • Whole Life Protector
  • Universal Life
70 years
Co-operators Term Life Insurance

But there is even more, we can explore about these both term life insurance types offered by Co-operators:

Term Life 1

  • Available to individuals aged 18 to 49
  • The policy automatically renews every year
  • Death benefit guarantee and even if your health changes, the policy's amount won't
  • Premiums are initially minimal but gradually rise with age.

Versatile Term

  • Throughout the period the premium rate will stay constant.
  • Without providing proof of insurability, you can renew your life insurance policy.
  • The amount of the death benefit won't alter during a policy

Co-operators Permanent Life Insurance

Anyone looking for life insurance coverage that they can set and forget is a good candidate for this type of policy. Permanent life insurance may also be advantageous for people seeking another investment option.

The following permanent life insurance plans are available from Co-operators Insurance: Whole Life Suite, Universal Life Suite, Infinity Term, Responsibility and Responsibility Plus Life. More explanation on each insurance product can be found below.

Co-operators Life Insurance productAge of acceptanceCoverageCash valueGuaranteed level premiums
Co-operators whole life insurance
0 to 80Starts at $25,000
Universal Life Suite
LifeCoverage that adapts as your life changes
Infinity Term
0 to 80Starts at $25,000
Responsibility and Responsibility Plus Life
40 to 80Up to $25,000
The Co-operators Permanent Life Insurance

Co-operators Whole Life Insurance

  • The most popular kind of permanent life insurance.
  • This insurance offers permanent protection and builds cash value at a set rate.
  • Potential for dividend income
  • 20 years' worth of payments or lifetime payments

For more information on Co-operators Whole Life Protector and Whole Life Ascend policies, see the PDFs below:

Universal Life Suite

  • You get to select the type of investments you wish to make with the money from the integrated savings component and design an investment plan that fits your risk tolerance and investing objectives
  • Alternatives for flexible coverage that let you adjust your coverage as your needs change
  • Tax-favoured accounts
  • Option to take occasional breaks from premium payments

Infinity Term

  • Ideal for those seeking a reasonably priced permanent life insurance policy
  • There are 2 types of Infinity Term offered by Co-operators:
    • 20-pay: For people between ages 0 to 70
    • Life-pay: For people between ages 0 to 80
  • Premiums at a set amount that are paid in full up at age 110
  • A wide range of premium payment options is available
  • Various types of life insurance riders are available

Responsibility and Responsibility Plus Life

  • Canadians with a fixed retirement income or between the ages of 40 and 80 are the target demographics for this plan.
  • No medical examination is necessary for approval
  • Coverage is somewhat limited.
  • End-of-life expenses, such as medical bills and funeral fees, are covered under this plan.
  • Up to four times the life insurance policy sum in the event of an accident fatality.

Critical Illness Insurance

Even if you have a health plan in place, a serious illness might harm your finances. Because of this, purchasing critical illness insurance coverage may be a wise choice.

If you are found to have a condition that is covered, the insurer will provide you with a cash benefit that you can use in any way you see fit. You could, for instance, spend the money to

  • Pay your mortgage installments in case you are unable to work due to illness
  • Pay for medical costs not covered by your health or life insurance
  • Pay for childcare so you can focus on getting better
  • Pay for the costs of daily existence.

How to use Cooperators Life Insurance Login?

To access Co-operator Life Insurance online services you’ll need to sign in to their client area. You can do so by following 2 simple steps:

  1. On the Co-operators website, go to the top menu
  2. On the far right, you’ll find a lock followed by “Online Services”, hoover through it
  3. When a small menu appears, select “ Insurance & Investments”
co operators sign up screen
Co-operators Life Insurance Login
  1. At this point, you will be redirected to the sign-in page. Then all you’ll have to do is fill in the information requested (email and password) and click “Sign in”
co operators sign in screen
Co-operators Life Insurance Login

How do I contact Co-operators Life Insurance?

Need to reach the Co-operators customer service? Here is the contact information for general and life insurance inquiries.

Co-operators Life Insurance ContactContact Information
To get quotes
  • 1-877-545-2667
  • 1-877-630-2667 (Quebec area)
Client Service Support
Individual Life
Individual Wealth Management
Group Benefits & Disability Claims
  • Toll-Free: 1-800-667-8164
  • [email protected]
  • Group Benefits Fax: (306) 761-7373
  • Disability Claims Fax: (306) 347-6390
Group Retirement Services
Payment Protection
Co-operators Life Insurance contact information

How much life insurance do I need?

Not sure how much life insurance you need to provide financial security for your family? HelloSafe's life insurance calculator can help you determine how much coverage you need to best protect your dependents.

Here you can find HelloSafe’s life insurance calculator. By using our tool, you will get to learn about prospective rates and coverages for different life insurance policies in Canada.

On the Cooperators life insurance website, you will find tools for generating online quotes for term life insurance.

How to get Cooperators Life Insurance quotes?

Before settling on the Co-operators for your life insurance, it pays to compare the competition. Canada has dozens of life insurance providers. Compare quotes now right here using our comparator below. All you need to do is enter very few basic details on what you're looking for, and voila, get over 20 life insurance quotes in no time.

Compare the best life insurance companies

Get 20+ quotes in seconds

Have your eyes set on the Co-operators life insurance? Term Life insurance quotes are available on their website. Get a quick price by choosing the coverage amount, your date of birth, sex, and whether or not you smoke. Here’s a step-by-step guide:

  1. On the Co-operators website, hover over the top menu
  2. On the word “Insurance”, a smaller menu will pop up
  3. Select “Life Insurance”
  4. Select “Term Life” on the page’s left side.
  5. Select “Term Life quote”.
co operators sign in screen 1
Co-operators Life Insurance quotes
  1. You'll be redirected to their quotes page. There, select “Life”
  1. At this stage, you will see a Cooperators Life Insurance calculator. Fill it out for a quick pricing estimate.
co operators application screen
Co-operators Life Insurance quotes
  1. Click on “Calculate” for your Co-operators term life insurance quote.

Term Life is the only life insurance product on the website that has online quotes and pricing information. For other products, you must contact the company directly using the Cooperators life insurance contact numbers: 1-877-545-2667 and 1-877-630-2667 (Quebec area).

Good to know

Term Life 1 is the only Co-operators Life Insurance product available online. Versatile Term and the Co-operators other life insurance plans, cannot be bought online.

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Alexandre Desoutter

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a as a contributor to several publications.