Canadian Life and Health Insurance Facts -- 2019

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8 Coverage Benefits of benefit payments went to living policyholders Over 90% Benefits paid out have increased over 50% from a decade ago There are more than 160 life and health insurers operating in Canada providing a competitive Canadian marketplace Retirement $ 48.7B 8 million Canadians' retirement savings are managed by the industry Annuity payments on employer-sponsored and individual products increased by 76% over the past decade Health $ 36.1B 26 million Canadians have supplementary health insurance $11.7 billion for prescription drugs, which accounts for over 35% of Canada's total spending on prescription drugs Life $ 13.2B 22 million Canadians own $4.8 trillion in life insurance coverage • $7.7 billion paid as death benefits • $5.5 billion paid to living policyholders as disability benefits, cash surrenders or dividends Insurers provide life insurance, extended health coverage and retirement solutions through group and individual plans. In 2018, life and health insurers paid out $98 billion in benefits while working to provide a high degree of customer satisfaction. The Canadian life & health insurance marketplace Canada's life and health insurers provide financial protection for 29 million Canadians

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