Canada Life Term Life Rates — 2026 Rate Guide by Age & How to Compare
Canada Life sells term life insurance in 10, 20, and 30-year terms. Your premium depends on age, health, smoking status, and coverage. This guide gives approximate Canada Life term life rates by age, explains what drives the price, and how to compare Canada Life with Manulife, Sun Life, Desjardins, and 50+ other Canadian insurers.
Updated March 16, 2026
Canada Life term life rates — rough benchmarks
The table below is for illustration only: $500,000, 20-year term, healthy non-smoker. Your actual Canada Life term life rate will be set after underwriting.
| Age at issue | Approx. monthly (male) | Approx. monthly (female) |
|---|---|---|
| 30 | $24–$38 | $20–$32 |
| 40 | $42–$68 | $34–$54 |
| 50 | $90–$140 | $68–$108 |
Women usually pay less than men for the same age and coverage. Smokers pay more; preferred health can reduce the rate. For 10-year or 30-year terms and other amounts, use a quote comparison.
What drives your Canada Life term rate?
Age is the biggest factor: each year older can add roughly 8–12% to the premium. Smoking status (non-smoker vs smoker), build (height/weight), health history, family history, and occupation can also affect the rate. Canada Life uses the same kinds of factors as other insurers; the difference is in their pricing and underwriting guidelines.
Comparing Canada Life term with other insurers
Canada Life term life is competitively priced. For many healthy applicants, Desjardins or Empire Life may quote lower. The only way to know is to compare life insurance quotes from multiple carriers. LowestRates.io shows Canada Life alongside Manulife, Sun Life, and 50+ others so you can see the best rate for your situation. For product detail see Canada Life term life insurance guide.
FAQ
What are Canada Life term life rates?
Rates depend on age, gender, smoking status, health, coverage, and term. A healthy 35-year-old non-smoker might see roughly $28–$48/month for $500K, 20-year term. Get a personalized quote to see your rate.
How do Canada Life term rates compare?
Canada Life is competitive; Desjardins and Empire Life often have lower term rates for healthy applicants. Compare 50+ providers to find the best price.
Can I convert Canada Life term to permanent?
Most Canada Life term policies allow conversion to permanent coverage without a medical, within the limits and ages in your contract.
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