11
Group life insurance
Group insurance purchases
made up 30 per cent of the
2014 total. New contracts,
including transfers of coverage
from one insurer to another
(which shows some volatility
from year to year), account
for the majority (about 90 per
cent) of the group insurance
purchased, while increases
in coverage under existing
contracts make up the
remainder. The provision of
more group insurance under
existing benefit schedules
to a worker receiving more
pay is not classified as a new
purchase.
Sources: OSFI, CLHIA
Life Insurance Purchases by Region – 2014
(per cent of coverage)
Atlantic provinces
4.6%
British Columbia
13.5%
Quebec
20.6%
Prairie provinces
23.3%
Ontario
38.0%
Individual Insurance
Atlantic provinces
6.4%
British Columbia
12.0%
Quebec
21.6%
Prairie provinces
23.0%
Ontario
37.0%
Group Insurance
