Best life insurance Quebec: Quotes & rates in 2025
- Fixed or decreasing insurance amount
- Fixed premiums and guarantees
- Option to convert to permanent life insurance without medical evidence
- Fixed or decreasing insurance amount
- Fixed premiums and guarantees
- Option to convert to permanent life insurance without medical evidence
Pick-A-Term from iA Financial Group is a highly flexible term life insurance solution designed to meet the evolving needs of individuals and families across different life stages. Offering term options from 10 to 40 years, it aligns perfectly with financial obligations such as mortgages, education funding, or business needs. The product guarantees fixed premiums for the chosen term, simplifying budgeting and financial planning. Additionally, policyholders have the option to renew coverage annually or convert to permanent insurance without requiring new medical evidence, providing valuable adaptability as circumstances change. It also includes access to additional benefits like critical illness and disability coverage for more comprehensive protection. However, at renewal, premiums can increase sharply, and the decreasing benefit option may not be suitable for those needing stable, predictable coverage. The wide array of optional features, while a strength, could overwhelm clients unfamiliar with life insurance choices.
Ideal profile: Pick-A-Term is ideal for young families, professionals, and pre-retirees seeking flexible, cost-effective coverage tied to specific financial milestones, such as paying off a mortgage or raising children. It’s perfect for those who prioritize simplicity upfront but may want the option to secure lifetime coverage later without new health checks.
- Wide selection of term durations (10 to 40 years) for customized financial protection
- Guaranteed premiums within the term for budgeting predictability
- Easy conversion to permanent life insurance without a new medical exam
- Renewable annually after term expiration, maintaining access to protection
- Access to optional critical illness and disability coverage for added security
- Renewal premiums can be significantly higher than initial premiums
- Decreasing benefits option may not suit clients who need stable coverage
- Broad range of optional features could complicate decision-making for some applicants
- Fixed premiums for the term duration
- Option to renew the contract from the 5th year
- Fixed or decreasing insured capital
- Fixed premiums for the term duration
- Option to renew the contract from the 5th year
- Fixed or decreasing insured capital
Beneva's Term Life Insurance offers a flexible and affordable way to secure financial protection for dependents, making it particularly attractive for first-time buyers or those managing a tight budget. Coverage is available up to $10 million, with term lengths of 10, 15, 20, 25, 30, or even 40 years, and eligibility spans from ages 18 to 75. One of its key strengths lies in its adaptability: policyholders can switch to a longer term or even to permanent insurance without undergoing a new medical exam within the first five years. Customers can also choose between fixed or decreasing benefit structures, depending on their evolving needs. Premiums stay constant during the initial term, simplifying financial planning, although they may rise upon renewal. Additional features include optional riders like critical illness coverage and disability waivers. However, while the product is solid and backed by Beneva’s 75 years of industry experience, its online resources are relatively sparse, potentially requiring more direct interaction with an advisor to fully understand all options.
Ideal profile: This policy is best suited for young professionals, new parents, and individuals taking on major financial obligations like mortgages or business loans who need affordable, predictable protection over a defined period. It also appeals to those who value future flexibility without the risk of repeated health underwriting.
- Very broad choice of terms, from 10 to 40 years, adapting to many life stages
- Premiums remain fixed during the term, helping with predictable budgeting
- Option to switch to a longer term or permanent insurance without a new medical exam
- Choice between fixed and decreasing capital based on personal financial strategies
- Add-ons like critical illness or disability coverage can further customize protection
- Beneva's extensive experience (over 75 years) adds a layer of credibility and stability
- Premiums may increase substantially upon renewal after the initial term
- Decreasing benefit may not meet long-term protection needs for everyone
- Limited information available online, requiring direct consultation for complex cases
- Flexible offer
- Policy convertible to permanent insurance
- Several optional guarantees available
- Flexible offer
- Policy convertible to permanent insurance
- Several optional guarantees available
YourTerm Life Insurance from RBC offers a flexible and accessible term insurance solution designed for Canadians aged 18 to 70 seeking affordable, predictable protection for key financial stages. With terms ranging from 10 to 40 years and coverage amounts between $50,000 and $25 million, the policy is versatile enough to cover everything from personal debts to substantial family or business needs. Premiums are guaranteed to remain constant for the duration of the chosen term, supporting easier budget planning. An important feature is the ability to convert to a permanent policy without further medical underwriting, ensuring long-term insurability even if health conditions change. Optional benefits like accidental death coverage and a 10-day free look period enhance flexibility. However, coverage limits may tighten after age 55, and premiums can rise steeply if the policy is not converted after the original term ends. Additionally, the variety of term options may require thoughtful selection to align perfectly with personal financial goals.
Ideal profile: YourTerm is ideal for young professionals, growing families, and business owners who seek affordable, customizable temporary protection with the future option of upgrading to permanent life insurance. It’s particularly appealing for those who value premium stability and long-term flexibility.
- Fixed premiums throughout the term enable easier financial planning
- Wide coverage range ($50,000 to $25 million) to meet both personal and business needs
- Term options from 10 to 40 years provide customization based on life stages
- Conversion option to permanent life insurance without medical exams
- Additional benefits such as accidental death protection and refund within a 10-day review period
- Coverage limits are reduced for applicants over the age of 55
- If not converted, premiums can spike significantly at term renewal
- Multiple choices may complicate decision-making for less experienced applicants
- Cash advance if you are diagnosed with a terminal illness
- Access to Manulife Vitality benefits at no cost
- Cover your family’s bereavement counseling costs
- Cash advance if you are diagnosed with a terminal illness
- Access to Manulife Vitality benefits at no cost
- Cover your family’s bereavement counseling costs
Manulife Family Term life insurance offers a flexible and affordable solution for Canadians seeking to protect their family's financial future or support business needs. The plan provides coverage ranging from $100,000 to an impressive $20 million, making it suitable for various financial situations. Premiums are fixed for periods of 10 or 20 years, until age 65, or even for life, ensuring predictable costs. Policyholders can enhance their coverage with the Manulife Vitality program, which rewards healthy living habits with potential premium reductions. Unique features include a cash advance upon diagnosis of a terminal illness and access to bereavement counseling for families at no extra cost. Additionally, the policy can be converted into permanent insurance without requiring new medical underwriting. However, participation in Manulife Vitality demands meeting specific health milestones, which might not suit everyone, and very high coverage limits may sometimes lead to over-insurance and higher-than-necessary premiums.
Ideal profile: This policy is ideal for young to middle-aged professionals, small business owners, and families seeking adaptable, high-coverage life insurance solutions. It particularly suits those who prioritize maintaining their lifestyle, managing debts, or securing their children's education while benefiting from health-related rewards.
- Affordable and adjustable coverage to meet evolving family and business needs
- Manulife Vitality Program encourages healthy habits and can reduce premiums
- High coverage amounts available, from $100,000 to $20 million
- Simple conversion to permanent insurance without additional medical exams
- Flexible premium terms: 10 years, 20 years, up to age 65, or for life
- Participation in Manulife Vitality requires achieving specific health milestones
- Possibility of over-insuring with very high coverage limits, potentially resulting in higher premiums
- Level premiums throughout the chosen term duration
- Option to have Preferred and Elite rates
- Exchange privilege within the first 7 contract years
- Level premiums throughout the chosen term duration
- Option to have Preferred and Elite rates
- Exchange privilege within the first 7 contract years
Empire Life’s Solution Series offers a flexible and comprehensive suite of term life insurance products tailored to meet varying financial protection needs over specific periods, ranging from 10 to 30 years. Coverage amounts reach up to $10 million, with stable, level premiums guaranteed throughout the chosen term. These plans are particularly well-suited for covering debts, mortgage protection, and providing family income during critical earning years. A standout feature is the ability to renew policies automatically or convert them into permanent life insurance without new medical underwriting, up to age 75 — a higher limit than many competitors. Clients can also access Preferred and Elite rates for additional premium savings if they meet certain health criteria. However, the attractiveness of this plan can diminish beyond the initial term, as renewal premiums may rise sharply, and the best rates are tied to strict health qualifications, which not all applicants may meet.
Ideal profile: This product best fits working professionals, homeowners, and families needing substantial financial protection for a set period, especially those who value long-term flexibility and anticipate future insurance needs evolving over time.
- Terms of 10, 15, 20, 25, and 30 years cater to diverse needs and budgets.
- Stable premiums for the length of the chosen term provide predictable costs.
- Ability to convert to permanent life insurance up to age 75.
- Automatic renewal features ensure continuous coverage without requalification.
- Preferred and Elite premium rates offer potential savings for healthier individuals.
- Conversion options and optimal premium rates have age limits.
- Coverage beyond the initial term can become costly, especially as one ages.
- Best rates require meeting specific health standards, potentially excluding some individuals.
Are you part of the 77% of Quebec's population with life insurance, or are you looking to join them? Wondering if your current plan truly fits your needs, or are you exploring life insurance Quebec plans for the first time? Our guide is tailored just for you.
What does life insurance in Quebec cover? How much does it cost? How do you choose the right plan? Find all the answers and compare life insurance Quebec plans from the best providers with our free tool.
Ready to secure your family's future with personalized quotes? Let's get started.
Life Insurance Quebec: 6 Key Takeaways
- Amount of insurance depends on dependents, income, and financial obligations
- Costs vary based on age, health, coverage type, and provider
- Life insurance premiums are much cheaper when you are younger
- Term, whole, and universal life insurance available in Quebec
- Easily compare Quebec life insurance policies online using HelloSafe comparator
- Life insurance payouts not taxed when paid to beneficiaries
What is the best life insurance Quebec plan in 2025?
The best life insurance providers in Quebec are those that provide the best combination of price, coverage, customer service, and efficiency. While some life insurance providers have a combination of these factors, very few will have it all.
Here is a list of a few of the top life insurance companies in Canada with their key features.
| Company | Key Features | Get a Free Quote |
|---|---|---|
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| Get a Empire Life Quote |
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| Get a Sun Life Quote |
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| Get a Beneva Quote |
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| Got an iA Quote |
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| Get a Manulife Quote |
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| Get an Assumption Life Quote |
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| Get a Humania Insurance Quote |
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| Get an Equitable Life of Canada Quote |
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| Get a PolicyMe Quote |
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| Get a Foresters Quote |
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| Get a Canada Life Quote |
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| Get an RBC Quote |
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| Get a BMO Quote |
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| Consult Desjardin's Website |
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| Consult Wawanesa's Website |
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| Get an Ivari Quote |
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| Consult TD Website |
How to compare plans and get free life insurance quotes?
You can explore the best life insurance plans and compare their coverage using our comparator tool at the top of this page. Simply select the province you live in from the drop-down list, and enter the coverage option you're looking for, your age, and coverage amount, and voila. Get personalized quotes right here in no time and start protecting your family right away.
How does life insurance in Quebec work?
Before we dive into the specifics of life insurance policies and providers in Quebec, we must have a clear understanding of life insurance and how it works. In its basic form, life insurance is a financial tool that people use to secure financial aid for their families if the worst were to happen.
On the technical side, life insurance is a contract held between an individual and the insurance company. This contract usually stipulates that in exchange for an ongoing regular premium payment from the insured individual, the life insurance provider will pay a predetermined death benefit to the insured’s beneficiaries in the event of their death.
In Quebec, life insurance companies are regulated by the Autorité des Marchés Financiers (AMF) which ensures that insurance providers follow all necessary regulations and industry standards.
Not only this, but regulators like the AMF are essential in upholding the trust the public has in the financial and insurance industries by ensuring that they don’t fail their customers when they are needed the most. And, when it comes to life insurance, when you need it the most you do need it.
Do you need a life insurance Quebec plan?
Having life insurance in Quebec is not a legal requirement, although whether you need it or not depends solely on your circumstances. These circumstances usually revolve around whether or not you have any dependents that directly rely on your ability to provide an income, but there can also be other reasons for you to need life insurance.
For example, you might not have any dependents right now, but you may in the future. By buying life insurance when you are younger and before you technically need it for any dependents, you will be locking in a significantly cheaper premium than you would if you waited a few years.
Another reason could be that you have loved ones who aren’t directly dependent on you but who you want to be looked after if you weren’t around: like nieces and nephews or close family friends!
However, if you do have dependents, then it can be argued that life insurance is a necessity. Not only does it provide peace of mind, but life insurance acts as a financial injection in the event of your passing. The life insurance death benefit would:
- Ensure general long-term financial security
- Cover the cost of mortgage payments and/or rent for several years
- Pay for any car or other personal loans
- Clear debt
- Cover the cost of final expenses such as funeral costs
- Pay for childcare and future tuition
- Protect the family from legal issues
- Provide generational wealth
Hopefully, now you know if you need life insurance in Quebec or not, but now the question is how much do you need?
How much life insurance do you need in Quebec?
The amount of life insurance you need in Quebec is determined by numerous factors which include the following.
- The number of your dependents
- Your spouse’s income
- Children’s aspirations and education
- Family’s plans
- Your current financial situation (savings, investments and debt)
- Ongoing and future cost of living
- Your age and health
Normally, you would consider every single one of your future financial obligations to arrive at the amount of life insurance you need. You would calculate the amount of money you make, how much you spend on your family, the amount that you save and invest for plans, and even the money that you would spend on hobbies.
Ultimately though, you should just buy the amount of life insurance that you can currently afford and if you are struggling to figure out how much that is, try our free online life insurance calculator.
Expert advice
When you don’t know or can’t calculate how much life insurance you need, you usually just take your current salary and multiply that number by 10. By doing this, you can be confident that you are leaving your family with at least 10 years’ worth of income if you are no longer around to work.
How much does life insurance cost in Quebec?
Life insurance costs in Quebec vary greatly. This is because life insurance premiums are determined by a multitude of factors which include:
- Type of life insurance
- Current age and health
- Place of residency
- The sum assured (death benefit)
- Medical history
- Gender
- Life insurance providers themselves
So, to get accurate life insurance quotes in Quebec you will have to review specific policies, and apply for and get quotes, from specific insurers. However, to give you an overview of the prices of life insurance in Quebec we have collated the following quotes for you below.
These monthly premium prices are based on a 20-year term life insurance policy, with a death benefit of $250,000 and assuming the applicants are healthy non-smokers.
| Age | Female | Male |
|---|---|---|
| 20 | $17 | $21 |
| 30 | $18 | $22 |
| 40 | $27 | $32 |
| 50 | $57 | $80 |
| 60 | $168 | $246 |
As you can see from the life insurance costs in Quebec above, it is significantly cheaper to apply and buy life insurance when you are younger. If you’re eager to compare life insurance quotes from the top companies in Quebec, use our comparison tool below
Compare the best life insurance companies
What types of life insurance Quebec plans are available?
The life insurance policies in Quebec are the same as those available throughout the rest of Canada: term life insurance, whole life insurance, and universal life insurance. Often referred to as permanent life insurance, whole and universal life insurance policies provide coverage for your whole life, while term life insurance is designed to last for a specific period.
Understanding the differences between these three types of life insurance will help you pick the policy that most closely aligns with your financial goals and priorities.
Term life insurance
- Term life insurance provides coverage for specific periods. Usually, these terms are 10, 20, or 30 years, but sometimes insurers have 5-year terms available or term limits set to a specific age. For example, a term 80 life insurance policy will provide coverage up until the age of 80.
- It is also common to allow term life insurance holders to renew their plans without any new medical underwriting, although premiums will increase upon renewal.
- Since term life insurance is usually the cheapest form of coverage, it makes it a popular choice for younger individuals and couples just starting.
Good to know
Read our complete guide on the best term life insurance in Canada, how it works, pros, cons, and more. Compare plans and get free personalized quotes using our free tool.
Whole Life Insurance
- Whole life insurance is a type of permanent life insurance that provides coverage for your entire life. Since your coverage is confirmed for your whole life, the premiums are more expensive than those of term life insurance; however, whole life can be a valuable tool for those looking to ensure generational wealth.
- In addition to the normal death benefit, whole life insurance sometimes also comes with an accumulated cash value option, aka cash surrender value, which may allow the policyholder to draw down on the policy or leverage it as collateral towards a loan.
Good to know
Read our complete guide on the best whole life insurance in Canada, how it works, pros, cons, and more. Compare plans and get free personalized quotes using our free tool.
Universal Life Insurance
- Universal life insurance combines the death benefit with an investment savings element. In addition, the premiums as well as the death benefit can be flexible and change throughout the time of coverage. The investment part of the policy can act as the policy's surrender value similar to the accumulated cash value of a whole life insurance plan.
- However, since the performance of the investments fluctuates depending on how the funds have been invested, so too will the cash value of the policy. If the investments have performed poorly for a longer amount of time, the policyholder may have to pay extra premiums to keep the policy in effect which naturally makes it more risky than any other life insurance policy.
Good to know
Read our complete guide on the best universal life insurance in Canada, how it works, pros, cons, and more. Compare plans and get free personalized quotes using our free tool.
Each type of life insurance has its advantages and considerations, so it is important to evaluate your needs and financial goals before making a decision.
What are the factors to consider when buying Quebec Life insurance?
Whether you’re looking for the best life insurance in Quebec or just enough to provide for your family, here are some things you should take into account.
Buying Young - whether you currently have any dependents or not, you will save a lot of money in premiums by buying life insurance at a younger age and locking in a low premium.
Buying only as much as you need - it can be tempting to buy whole life insurance or a policy with a large death benefit. But, remember, that you have to be able to continuously pay the insurance premiums throughout the life of the policy. Don’t overextend yourself because one missed payment may mean the end of the policy.
Bundle policies - if there is an option to do so, consider bundling your life insurance policies with one provider. Successfully bundling your policies eases administrative tasks and may save you some money along the way.
Compare providers - Comparing the life insurance providers and policies before diving into any one is the best way to find a policy and premium that suits you best. You can compare options using our comparison tool or speak to a trusted life insurance agent near you.
Good to know
Life insurance policies are always a long-term plan. Before buying life insurance in Quebec, make sure that the death benefit will be sufficient for your loved ones and that you will always be able to keep up with the insurance premiums. There is nothing worse than having to give up on a life insurance policy that you have held for 15 years due to extenuating circumstances.
How do you get Quebec life insurance quotes?
There are essentially three ways to get life insurance quotes from Quebec insurance providers. The first is to reach out to the life insurance companies directly. Some may have online life insurance quoting tools, but you will likely have to complete a questionnaire and then speak to a representative from the company to get your quote.
The second way is to speak to a life insurance agent, sometimes also known as an insurance intermediary, in your area who has the right licenses to recommend and sell the various forms of life insurance. These agents should provide a suitable range of options applicable to your wants and needs and will be able to quote you a price for the product as well.
However, the easiest and quickest option to explore life insurance plans is our free HelloSafe tool below. Compare the best life insurance plans and get free personalized quotes right here in no time.
Compare the best life insurance companies
Is life insurance taxable in Quebec?
Life insurance is not taxed in Quebec when the death benefit is paid directly to the beneficiaries when the insured person passes. In addition, the beneficiaries of the life insurance payout do not need to report the money as additional income.
However, life insurance payouts may need to be declared by the policyholder if the life insurance policy pays dividends or interest, or if you withdraw money from your paid-up plan.
