Canadian Life & Health Insurance Facts // 2026 Edition 9
The Canadian Life & Health Insurance Marketplace
I N D U S T R Y P R O F I L E
68%
32%
Canada's life and health insurers provide financial protection for
nearly 30 million Canadians
In 2025, life and health insurers supported Canadians with $157 billion in benefits while
providing a high degree of customer satisfaction.
Total benefits paid for life, health and retirement have increased 86 per cent from a
decade ago.
How insurance is sold
Life and health insurance products are sold as:
Group plans which provide coverage for a group
of people – employees, or members of a union or
association – under one contract.
Individual policies which provide
coverage for one person or a family.
• $9.6 billion in
death benefits
• $8.7 billion to living
policyholders as
disability benefits,
cash surrenders
or dividends
Including $18.1
billion for drugs –
that accounts for
40% of prescription
drug spending
in Canada
Including annuity
payments on
employer-
sponsored and
individual products
that have nearly
doubled in the
past decade
Benefits
In 2025, life and health insurers
supported Canadians with
$157 billion in benefits
Retirement
10
million
Health
27
million
Life
23
million
Canadians
with
coverage,
totalling
$6.2 trillion
Canadians
have
coverage
Canadians'
retirement
savings are
managed by
insurers
Coverage
In 2025, life and health insurers provided
financial protection for nearly
30 million Canadians
Life insurance
benefits
$
18.3B
Health insurance
benefits
$
54.7B
Retirement
benefits
$
83.8B
