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
