CUMIS Life Insurance Review, Rates, Contact 2024

CUMIS Life Insurance offers a variety of life insurance plans designed to meet the needs of Canadians. Backed by The Co-operators, this reputable provider delivers comprehensive coverage, no-medical exam options, and critical illness add-ons, making it a trusted choice for families, individuals, and credit union members.

In this CUMIS life insurance review, we tell you everything from its coverage options, pros and cons, premiums, getting a quote, cancellation, and more.

If you want to be sure CUMIS insurance is right for you, you must compare offers from other providers. You can use our free tool to compare life insurance quotes from Canada's best companies, online.

Our review of CUMIS Life Insurance

CUMIS, underwritten by Co-operators, is a reputable provider offering a diverse range of insurance solutions tailored to meet the varying needs of Canadians. Their product lineup includes Term Life Insurance, Whole Life Insurance, Infinity Term®, and Universal Life Insurance, making it suitable for individuals seeking both temporary and permanent coverage.

For those seeking temporary coverage, CUMIS offers Term Life Insurance with flexible term lengths ranging from 10 to 30 years. These plans come with guaranteed premiums and the option to convert to permanent coverage without medical exams before age 70, providing flexibility as life circumstances change. Coverage amounts range from $25,000 to $10 million, accommodating everyone from those with modest needs to individuals requiring extensive financial protection.

One of CUMIS’s standout features is its no-medical exam life insurance options, such as Responsibility® and Responsibility PLUS®, designed for individuals aged 40–80 who need affordable permanent coverage without the hassle of medical underwriting. While other providers like Canada Life Insurance also offer simplified options, CUMIS’s plans are uniquely geared toward older applicants or those seeking smaller coverage amounts.

CUMIS’s Whole Life – Head Start™ plan ensures lifetime coverage and financial security for children, making it a great option for families looking to secure their children’s future.

While CUMIS provides extensive options and strong support for credit union members, it might not be the cheapest option on the market. Its reliance on credit union partnerships may also limit accessibility for some customers. However, for those seeking comprehensive coverage with flexibility, high coverage limits, and specialized options for children, CUMIS remains a compelling choice.

Before deciding on a policy with CUMIS, it's important to take a look at competitors’ offerings. Our comparison tool below lets you get prices from many of Canada's leading life insurance providers. All you need to do is share some basic information on what you're looking for and voila, you can get over 20 personalized life insurance quotes, in seconds.

Compare the best life insurance companies

Get 20+ quotes in seconds

What types of life insurance does CUMIS offer?

CUMIS provides a variety of life insurance options tailored to meet different needs, offering flexibility, protection, and financial security for individuals and families. From term life to permanent plans, these solutions can help secure the future of loved ones and safeguard financial well-being.

Insurance Type	Key Features
Term Life Insurance	Flexible term lengths: 10, 15, 20, 25, or 30 years. Coverage amounts range from $25,000 to $10,000,000. Guaranteed premiums for the term duration. Renewable and convertible to permanent policies without medical exams (before age 70).
Whole Life Insurance	Lifetime coverage with guaranteed cash values. Potential for policy dividends (not guaranteed). Flexible premium payment options (10, 20 years, or life). Coverage starts at $25,000, available up to age 80.
Infinity Term®	Permanent coverage with level premiums. Fully paid-up by age 110. Flexible coverage starting at $25,000. Available for ages 0–80 (Life-Pay) and 0–70 (20-Pay).
Universal Life Insurance	Combines permanent coverage with investment options. Coverage amounts range from $25,000 to $10,000,000. Tax-advantaged savings growth. Flexible premiums and adjustable coverage. Accessible funds via accumulated cash values.
Critical Assist®	Lump-sum benefit for 25 covered critical illnesses. Coverage ranges from $25,000 to $2,000,000. Early Assist program for partial payouts on less severe conditions.
Critical Assist® – Head Start	Coverage for children aged 30 days–17 years. Lump-sum benefit for 32 covered illnesses (7 childhood-specific). Coverage ranges from $25,000 to $250,000.

What term life insurance plans does CUMIS offer?

Term Life 1

• Straightforward coverage for those aged 18–49.
• Coverage ranges from $50,000 to $475,000.
• One-year, guaranteed-renewable term.
• Fast and easy application process—quote, apply, and get insured within minutes online.

Versatile Term™

• Offers 10-, 15-, 20-, 25-, or 30-year renewable term options.
• Fixed premiums for the selected term duration.
• Convertible to permanent policies (e.g., Infinity Term®, Whole Life) without medical exams before age 70.
• Includes an option to exchange Term 10 for longer terms (Term 20, 25, or 30) within the first five years.

What permanent life insurance plans does CUMIS offer?

Whole Life

• Lifetime coverage with guaranteed premiums and savings growth.
• Coverage starts at $25,000, available to individuals up to age 80.
• Key features:
  • Guaranteed cash values: Access funds via policy loans or partial surrenders.
  • Policy dividends: Potential for profit-sharing (not guaranteed).
  • Premium payment options: Pay over 10 years, 20 years, or for life.
  • Coverage for children through the Whole Life – Head Start™ policy.

Universal Life

• Combines permanent coverage with flexible investment options.
• Coverage adapts to life changes, allowing tax-deferred savings growth.
• Features include:
  • Access to cash accumulated within the policy.
  • "Premium holidays" for temporary breaks from payments if sufficient funds are available.
  • Multiple investment accounts tailored to individual risk profiles.

Infinity Term®

• Comprehensive permanent coverage without a savings component.
• Benefits include:
  • Level, guaranteed premiums.
  • Coverage up to $25,000–$110,000.
  • Full riders and benefits for plan customization.
  • Available for adults and children, with Head Start options for lifetime coverage.

What are the other types of CUMIS life insurance plans?

Apart from traditional life insurance policies, CUMIS also offers the following plans including no-medical exam plans and critical illness options.

Responsibility® and Responsibility PLUS®

• Affordable permanent plans for individuals aged 40–80.
• No medical exams or blood tests are required.
• Benefits:
  • Up to $25,000 in coverage.
  • Fixed premiums that never increase.
  • Ideal for covering funeral costs, debts, or leaving financial gifts.

Critical Assist®

• Provides tax-free lump-sum payouts for critical illnesses.
• Coverage ranges from $25,000 to $2,000,000.
• Includes Early Assist program for less severe conditions, offering partial payouts while keeping the policy active.
• Benefits can help:
  • Pay off debts or mortgages.
  • Cover childcare and daily expenses.
  • Subsidize additional health care or maintain financial contributions like RRSPs or TFSAs.

CUMIS also offers tailored life insurance for children. They are:

Critical Assist® – Head Start

• Critical illness insurance is designed for children aged 30 days to 17 years.
• Offers tax-free payouts ranging from $25,000 to $250,000.
• Supports parents with financial relief while focusing on the child’s recovery.

Whole Life – Head Start™

• Permanent coverage for children with savings components.
• Ensures lifetime protection and financial security.

What does CUMIS life insurance cost?

The cost of CUMIS life insurance varies based on factors such as the insured’s age, term length, and chosen coverage. Typically, younger individuals benefit from lower premiums, while longer-term policies and older applicants incur higher monthly costs.

Below is an example of average premiums for different profiles and policy durations to give you a clearer idea of what you might expect to pay for CUMIS life insurance.

Profile of the Insured	Term Insurance Length	Premium/Month
33-year-old	10 years	$22.50
33-year-old	20 years	$30.60
33-year-old	30 years	$51.75
40-year-old	30 years	$94.95
50-year-old	30 years	$259.20

We recommend that you get personalized quotes and compare providers to get the best rates. You can use our free tool below to compare life insurance quotes online from Canada's best companies.

Compare the top term life insurance options today

Request term life insurance quotes

How do I get a CUMIS life insurance quote?

To obtain a CUMIS life insurance quote, consider the following steps:

1. Through a Partner Credit Union: CUMIS collaborates with numerous credit unions across Canada. If you're a member, visit your local branch to discuss available life insurance options and receive a personalized quote.
2. Direct Contact: Reach out to CUMIS directly for information and quotes:
   • Email: [email protected]
   • Phone: 1-800-263-9120
3. Online Quote Request: Visit the CUMIS website to explore their life insurance products. While specific online quoting tools may not be available, you can find detailed information about their offerings and initiate contact for a quote.

How do I contact CUMIS Life Insurance customer service?

If you are keen to know more about CUMIS life insurance, you can reach them through one of the following contact methods.

Contact Mode	Details
CUMIS life insurance phone number	1-800-263-9120
Email:	[email protected]
Address:	CUMIS P.O. Box 5065, 151 North Service Road Burlington, ON L7R 4C2

How to file a CUMIS life insurance claim?

To initiate a life insurance claim with Cumis as a beneficiary, individuals are advised to contact the company at 1-800-454-8061 (option 4) or via email at [email protected]. Alternatively, they can reach out to their Financial Advisor for assistance.

During the process, a Claims representative may request the completion of specific forms, which can be accessed through provided links. Beneficiaries are instructed not to fill out any forms until explicitly directed by the Claims representative to ensure the correct documentation is submitted.

How to cancel CUMIS life insurance?

To cancel a CUMIS life insurance policy, policyholders should contact the company directly. You can call 1-800-263-9120 or email [email protected] to initiate the cancellation process. It's important to review the policy's terms and conditions beforehand to understand any potential penalties or fees associated with early termination. Additionally, consulting with a financial advisor can help assess the implications of your CUMIS life insurance cancellation.