Humania Life Insurance Review, Quotes 2024
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Discover the methodologyIn Canada, life insurance has become increasingly popular, with sales rising significantly in recent months. It’s a valuable savings solution that ensures your family is financially protected in the unfortunate event of your death.
While there are several companies to choose from, Humania Life Insurance may be one worth considering. But is it the right fit for you? In this Humania Life Insurance review, we’ll cover everything you need to know: What does Humania offer? How much does it cost? Is it the best savings solution? How to apply?
You can also compare personalized Humania life insurance quotes alongside rates from over a dozen top Canadian insurers using our free comparison tool to find the best policy for you and your family.
Humania Assurance Life Insurance: 5 key points
- A mutual insurance company and one of the oldest providers in Canada
- Term life insurance with several term lengths, and up to $5 million coverage
- No-medical life insurance up to $300,000, for those aged 18 to 70 years
- Digital policy with instant approval and purchase options
- Critical and disability insurance riders with immediate approval
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Our Humania Life Insurance Review: Great choice for instant online approval
Humania Assurance, established in 1874, is one of Canada's oldest life insurance companies. It serves over 200,000 policyholders across Canada.
Humania offers simplified life insurance plans, with its flagship product being No Medical Exam Insurance. This plan allows individuals aged 18 to 70 to apply for coverage from $10,000 to $300,000 without needing a medical exam or providing medical reports. The No Medical Exam Insurance is ideal for individuals with medical histories that make it difficult to access traditional insurance.
Humania also provides flexible HuGo term life insurance plans ranging from 10 to 100 years, with coverage up to $5 million, tailored to meet the policyholder’s needs. The application process is fully digital, and in some cases, approval is immediate.
Humania offers additional coverage options, such as critical illness and disability protection, although these options are limited compared to broader insurers like Manulife or RBC Life Insurance.
The coverage amounts offered by Humania Insurance are lower than those offered by competitors like Sun Life Insurance or Canada Life, which can provide limits of several million dollars. If you’re looking for affordable, no-hassle coverage, Humania could be a great fit, but for higher coverage or more extensive protection, you may want to explore options from these larger insurers.
Expert advice
Humania Life Insurance is ideal for individuals seeking a quick, accessible term life insurance solution with minimal administrative hassle. It is especially suited for clients who want to avoid medical exams or have pre-existing health conditions. However, for those seeking higher coverage amounts or more comprehensive protection, other insurers may be better suited.
We recommend that you compare multiple policies before deciding if Humania is the right choice for you. All you need to do is use our comparator below to compare coverages and plans from the best life insurance in Canada and get free personalized quotes, in seconds.
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Pros of Humania Assurance life insurance
- Coverage up to $5 million
- Competitive rates
- Flexibility to renew, convert, and exchange policies
- No medical life insurance plan up to $300,000
- Fully digital policy
- The user-friendly online application
- Multiple coverage terms from 10 to 100 years
- Policies over $100,000 automatically qualify for HuGO Critical Illness Insurance ($25,000) and HuGO Debt Insurance (up to $1,500/month)
Cons of Humania Assurance life insurance
- The conversion from term to term 100 option is open only until the age of 65.
- Whole life insurance is unavailable upfront (existing term policies can be converted to term 100)
- Limited product options compared to other insurers
How are Humania life insurance reviews from customers?
Humania Assurance generally receives positive feedback for its no-medical life insurance options and competitive pricing, making it an attractive choice for those with health concerns or looking for quick coverage. Customers appreciate the digital policy management that simplifies the application process.
However, some reviews mention that Humania's product range is limited, particularly lacking permanent life insurance options. Additionally, the conversion option for term policies is available only until age 65, which may be a disadvantage for older customers.
How much does Humania life insurance cost?
It is always a good idea to know the premiums to expect before you apply for a life insurance policy. In the table below, you will see the monthly insurance premiums for non-smoking men and women for a coverage amount of $400,000 and a term of 20 years.
| Age | Male (non-smoker) | Female (non-smoker) |
|---|---|---|
| 30 | $26.19 | $19.35 |
| 40 | $40.59 | $29.43 |
| 50 | $110.07 | $76.95 |
| 60 | $287.91 | $189.99 |
These life insurance prices are estimated. Pricing may vary based on your profile. Smokers should expect much higher rates than the ones listed here. You can get your personalized Humania life insurance quote using our partner link right here.
What type of life insurance does Humania Assurance offer?
Humania Assurance life insurance's flagship policy is HuGO term life insurance. It also has a robust no-medical exam life insurance policy and a more limited permanent life insurance policy.
| Insurance Plan | HuGO Term life insurance | Insurance without a medical exam | Term 100 life insurance |
|---|---|---|---|
| Term |
|
|
|
| Maximum coverage | $5 million | $300,000 | $50,000 |
| Age | Up to 80 years | 18-70 years | 18-70 years |
| Renewable | n/a | ||
| Exchange privilege | |||
| Riders |
|
|
Humania Insurance offers three types of life plans and robust critical illness coverage. Let’s explore the available plans.
HuGO term life insurance
HuGO is Humania's best-known life insurance product. You can easily buy the policy online within minutes and get approved instantly. In many cases, no medical test is required, making buying simple, fast, and user-friendly.
Policies come in various length terms to suit different needs and start from 10 years with coverage up to the age of 80. HuGO also has guaranteed renewability. The plan also has a gold and platinum renewal option and the plan is convertible to a permanent term 100 policy.
Gold is a default option and the renewal rate is the market premium rate at the time of renewal. However, the platinum option will allow buyers to lock in a 40% lower rate than the default rate at the time of renewal. But there is the tradeoff of paying about 13% more on the initial term.
- The terms are 10, 15, 20, 25 and 30 years.
- You also enjoy a guaranteed level premium which means there is no change in the premium rate in the policy.
- The maximum coverage amount is $5 million and it can be exchanged for a longer term.
Those in French-speaking Canada can look for "Humania assurance vie options".
Humania life insurance without a medical exam
Those with an underlying health condition that disqualifies them from a standard life insurance policy might want to consider the no medical exam term policy offered by Humania. All you have to do is answer six health questions and you will get instant coverage once approved. The $300,000 maximum coverage is a large amount for a policy that doesn't require an exam and that can be renewed.
- Maximum coverage of up to $300,000.
- Term length ranges from 10 years to 20 years and 100 years.
- Available for people aged between 18 years to 70 years.
- Comes with a guaranteed renewal up to the age of 80 for the 10-year term and 20-year term plans.
- The plan also has critical and disability insurance without any questions asked and if approved, you enjoy immediate coverage.
Humania no-medical permanent life insurance (Term 100)
The no medical permanent life insurance requires no medical exam and offers life coverage. Eligibility depends on the answers to the health questions that are asked during the application. The maximum of $50,000 makes it a good option for funeral expense insurance, but those who want long-term permanent plans should look at other providers.
- The coverage amount is small and can go up to $50,000.
- It is available for people aged between 18 years to 70 years and does not include any cash value component.
- The plan also has a guaranteed level premium.
How do I get a Humania life insurance quote?
You can get a personalized Humania life insurance quote using our special partner link below.
To get a Humania life insurance quote on the company website, you have several options depending on the type of coverage you choose:
- HuGO Life: Available online on the Humania website.
- No Medical Exam Term Life Insurance: Available online on the Humania website.
- Term Life Insurance: Request to be contacted by providing some details on the Humania website.
- Simplified Life Insurance: Request to be contacted by providing some details on the Humania website.
Before purchasing Humania life insurance, you will need to decide on the following:
- The type of life insurance you want (temporary, permanent, etc.).
- The number of insured parties (family, children, etc.).
- The payout amount upon your death.
- Your beneficiaries and the percentage allocated to each.
Based on these choices, your Humania life insurance quote will be adjusted to suit your needs. However, before picking any one provider, it pays to compare. You can quickly compare life insurance quotes from more than 20 providers right here using our comparator tool below. Get free personalized quotes in seconds.
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Is there a Humania Assurance life insurance calculator?
No matter the type of insurance policy you choose, before you contact them, get an idea of the coverage you require and the premium you will have to pay for the same. Use our life insurance calculator and get a coverage amount within a few minutes.
You can also get an estimate from the Humania’s life insurance calculator on its website. It is simple and easy to use. Just click "Calculate Your Premium" on the top nav bar. Humania life insurance reviews particularly praise the easy online calculator option.
Once you know how much life insurance you need, you can compare plans from multiple providers and find a policy that suits your unique needs. All you need to do is use our comparator below and get free quotes from Canada's top life insurance companies, in a few moments.
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How do I contact Humania Life Insurance customer service?
Need to contact Humania life insurance? It's easy. Here are the details you need to get in touch.
| Humania Life Insurance | Contact details: |
|---|---|
| Contact number: | 1-800-773-8404 |
| Fax Number: | 1-844-704-7400 |
| Email: | [email protected] |
| Address: | 1555 Girouard St W, Saint Hyacinthe, Quebec, J2S 2Z6, Canada |
