Canada Life Insurance

About Great West Life Company

Great-West Life Company, a leading insurance provider, is renowned for its wide range of insurance products and financial services. Now integrated with Canada Life, the company offers enhanced life insurance options and comprehensive financial planning services. This partnership ensures robust support and tailored solutions for clients across Canada, maintaining a strong commitment to financial security and customer satisfaction.

Note: Check all the best term insurance plan in India.

What is Canada Life Insurance?

Canada Life Insurance offers a variety of policies to suit your needs, providing a one-time, tax-free payment to your chosen beneficiaries upon your death, as long as you keep up with your premiums. With different types of life insurance available, you can find a policy that protects your family and fits into your overall financial plan. Some policies even allow you to access funds while you're still alive, offering additional financial flexibility and security.

How Canada Life Insurance Can Help Me?

• Canada life insurance can help your family stay financially stable in the event of your unfortunate demise. 

• The payout from a term life insurance can cover the outstanding loans and debts in your absence.

• With a life insurance plan in place, you can lead a stress-free life knowing that your family will be protected.

What are the 2 Types of Canada Life Insurance Plans?

The 2 types of life insurance plans offered by Canada Life are as follows:

1. Term Life Insurance 

   • Limited term cover

   • Affordable premiums

   • Fixed payments

   • It can be converted into permanent

2. Permanent Life Insurance

   • Lifetime coverage

   • Higher premiums

   • Flexible payments

   • Builds cash value

How to Choose the Right Canada Life Insurance for Yourself?

To help you choose the right type of life insurance offered by Canada Life, here is a comparison of the 2 types of plans offered by the company:

How do I Decide on the Right Life Insurance Coverage for Myself?

While choosing the ideal cover amount for your Canada life insurance plan, you should carefully assess the following factors:

• Your annual income

• Your current net worth

• Your family’s financial needs

• Your outstanding loans and debts

• Your existing insurance plans

What is a Canada Life Insurance Quote?

To get the Canada life insurance quote, you need to select the type of life insurance policy you want to buy and your profile details. Apart from that, the other factors that affect your Canada life insurance quote are as follows:

• Age

• Gender

• Health

• Occupation 

Alternate Ways to Buy Term Life Insurance for NRIs From India

NRIs living in Canada can buy term life insurance from Indian insurers and enjoy the following benefits.

1. Benefits of Buying Term Insurance from Indian Insurers

   • Get an 18% GST waiver on premiums and a 5% additional discount on annual mode

   • Premiums lower than international term plans and benefits customised to fit NRI needs

   • Tele/video medical to remove the hassle of travelling to India for quick purchase

   • Global coverage with pre-approved cover and an avid customer support team

   • Choosing the term plan from the right insurer is easier with the comparison of CSR

2. How to Buy Term Life Insurance for NRIs from India?

   Here is how you can buy term life insurance for NRI from India in just a few steps:

   Step 1: Visit the Term Insurance for NRI page of Policybazaar

   Step 2: Fill in the required details like name, gender, and contact information

   Step 3: Select the right annual income, occupation type, educational qualification, and smoking habits

   Step 4: Choose the term insurance for NRIs in Canada and proceed to pay