LifeRate Blog
Plain-English answers about life insurance in Canada — every figure dated, sources shown, and the hard questions handed to a licensed human.
Life Insurance Basics
Coverage & Needs
What happens to your life insurance if your insurer fails? Assuris protection explained
Every life insurer licensed in Canada must belong to Assuris, which guarantees at least 90% of your benefits — or $1,000,000 for a death benefit — if your insurer fails. The current limits, the four failures since 1990, and why carrier choice isn't a solvency gamble.
Coverage & NeedsMortgage life insurance vs. term life insurance in Canada
Bank mortgage life insurance pays a shrinking benefit to your lender; term life pays a level benefit to whoever you name. What the FCAC comparison table and the banks' own certificates actually say — and the narrow cases where creditor coverage still wins.