Distribution of life insurance products in Canada 2006-2022

Published by Jennifer Rudden, Nov 1, 2024

The changes in the distribution of life insurance products in Canada occurred mostly in individual and group term insurance between 2006 and 2022, while individual whole life and universal life insurance remained relatively stable. In 2022, individual term life insurance accounted for 40 percent of all life insurance coverage in Canada, an increase from 28 percent in 2006. In contrast, the share of group term life insurance declined from 46 percent in 2006 to 35 percent in 2022. 

Distribution of life insurance products in Canada from 2006 to 2022

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Release date

October 2023

Region

Canada

Survey time period

2006 to 2022

Supplementary notes

Values have been taken from multiple publications.

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