Canadian Life & Health Insurance Facts // 2025 Edition 3
In 2024, Canada's life
and health insurers...
Paid a record $143.3 billion in supplementary
health and accident benefits, which is nearly
12 per cent higher than the previous year
Paid out $71.4 billion in retirement benefits
from annuities
Paid $18.6 billion in life insurance benefits
Provided $10 billion in disability benefits
which helped 12 million Canadians replace
wages while they were unable to work
Tackled rising drug claims by paying out
$16.6 billion in prescription drugs in 2024,
compared with $15.3 billion the previous year
Held $50 billion in domestic infrastructure
and more than $1 trillion in long-term
investments to support our country's
long-term growth.
