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What is Canada Life doing to support clients during these uncertain times?

April 29, 2020 | Last updated on October 11, 2023
2 min read
Canada Life insurance


We’re helping your clients keep their coverage in place. We’re working with clients who report a specific financial impact due to COVID-19 in order to identify options to address their situation. This could include using the flexibility within their policy or delaying premiums for up to 90 days 1.

Clients can reduce their coverage up to 50% – with lower premiums – for term and some universal life insurance, as well as critical illness insurance, policies 2. Canada Life™ is the only company that currently offers this option for term, minimum-funded level cost of insurance universal life and critical illness (without the return-of-premium rider) policies inforce on or before March 15, 2020. Clients can restore all or part of their coverage at any time within the 90-day coverage reduction period without underwriting or penalty. You can learn more in our guide to doing insurance business with Canada Life.

For your clients who have disability and overhead expense insurance, benefits may be available if they’ve tested positive for COVID-19 and the symptoms prevent them from working beyond the policy’s waiting period. Any days spent in quarantine before a positive test (up to a maximum of 14 days) will be included in the waiting period 3.

We continue to look for ways to support our clients through this situation. In addition to these changes:

  • We’re taking a look at our practices, including how to handle term renewals. In the case of internal replacements please send applications well in advance. This will give us time to look at options for your client.
  • We’re extending the deadline for group conversions from one to two months. Some exclusions may apply at the discretion of plan sponsors.
  • We’re temporarily increasing our threshold for accelerated life and non-registered, non-spousal wealth claims to $100,000, so we can pay more claims faster with minimal requirements.

Visit to learn more.

1 Some restrictions apply. If your clients have individual health insurance, contact your health insurance sales account manager with questions. Clients can request a premium payment deferral, for inforce policies that were inforce on or before March 15, 2020, by no later than May 31, 2020. The premium payment deferral must start on or before that date.

2 Some restrictions apply. The option to reduce coverage by up to 50% cannot be used in combination with the payment deferral option.

3 The policy does not provide benefits for other circumstances related to COVID-19, such as workplace disruptions, loss of business, unemployment, product or employee unavailability or because of preventive restrictions.