Term life insurance
Affordable protection for a set period, for example 10, 20 or 25 years. Ideal for covering a mortgage or protecting your family while the children are dependents.
Life Insurance
Protect your loved ones' financial future
The types of life insurance we compare
Coverage and conditions vary depending on the plan chosen.
Permanent life insurance
Lifelong protection that can help cover final expenses and taxes owing at death, or leave an inheritance.
Why choose Protecto for your life insurance?
Advisors registered with the AMF, bilingual service, and online subscription in minutes, with Protecto.
Multiple insurers compared
We compare solutions from several insurers to recommend coverage suited to your situation and your budget.
Simplified issue available
Depending on your age, your health and the amount requested, a medical questionnaire may be enough. Simplified issue coverage is also available.
Analysis of how much you need
We estimate the right amount of coverage based on your income, your debts, your mortgage and the number of people who depend on you.
Advisors registered with the AMF, no pressure
Our advisors are here to inform and guide you in French and English, from the initial analysis through to putting the contract in place.
Life insurance pays a tax-free amount to your beneficiaries in the event of your death. It can help cover the mortgage, debts, family expenses and your family’s future needs.
If you have a spouse, children or other dependents, or if you carry significant debt such as a mortgage or a business loan, life insurance is worth considering.
Which type of life insurance should you choose?
Term life insurance. Affordable protection for a set period. It works well to cover a mortgage, replace an income or secure your family’s finances while the children are dependents.
Permanent life insurance. Lifelong protection. It can help cover final expenses and taxes owing at death, leave an inheritance or meet estate planning needs.
Universal life insurance. It combines lifelong protection with a tax-sheltered savings account. It suits tax and estate planning objectives better.
To go further, read our guide on term vs permanent life insurance.
How much life insurance do you need?
The right amount depends on your income, your debts, your mortgage, the number of dependent children and the goals you want to protect.
Our personalized analysis estimates the coverage suited to your situation. You can also read our page on how much life insurance you need.
Personal life insurance or mortgage insurance?
Mortgage insurance offered by a lender mainly serves to pay off the loan balance, and the financial institution is usually the beneficiary.
With personal life insurance, you own your contract, you choose your beneficiaries and the coverage does not depend on your lender.
Is your group life insurance enough?
Group life insurance at work can be a good base of protection, but the amount is often limited and tied to your job.
Personal life insurance can supplement that coverage and keep protecting you if you change employer or retire.
When should you review your life insurance?
It is recommended to review your coverage after a major change: buying a property, a birth, a marriage, a separation, an increase in income or starting a business.
Our advisors can help you choose. Talk to a financial security advisor, or get your quote online.
Frequently Asked Questions
What is life insurance for?
Life insurance helps protect your loved ones financially in the event of your death. The amount paid can replace your income, pay off the mortgage and debts, cover final expenses or fund your family’s future needs.
How much life insurance do I need?
The right amount depends on your income, your debts, your mortgage, the number of dependent children and the goals you want to protect. Our personalized analysis estimates the coverage suited to your situation.
What is the difference between term and permanent life insurance?
Term life insurance provides coverage for a set period, for example 10, 20 or 25 years. Permanent life insurance covers you for life and can be used to cover final expenses, leave an inheritance or pay certain taxes owing at death.
How much does life insurance cost?
The price depends on your age, your health, your smoking status, the insured amount and the type of coverage chosen. In general, buying while you are young and in good health gets you a better rate.
Do I need a medical exam?
Not always. Depending on your age, your health, the amount requested and the insurer, a medical questionnaire may be enough. Simplified issue or no-medical-exam coverage is also available in some situations.
Can I get life insurance if I have a health condition?
Yes, in many cases. A health condition does not automatically mean your application will be declined. Depending on your situation, the insurer may offer coverage at the standard rate, with an extra premium or subject to certain conditions.
Is the life insurance payout taxable?
In general, beneficiaries receive the life insurance amount without paying tax on it.
Is my group life insurance at work enough?
It can be a good base of protection, but the amount is often limited and tied to your job. Personal life insurance can supplement that coverage and keep protecting you if you change employer or retire.
What is the difference between personal life insurance and mortgage insurance?
Mortgage insurance offered by a lender mainly serves to pay off the loan balance, and the financial institution is usually the beneficiary.
With personal life insurance, you own your contract, you choose your beneficiaries and the coverage does not depend on your lender.
When should I review my life insurance?
It is recommended to review your coverage after a major change, such as buying a property, a birth, a marriage, a separation, an increase in income or starting a business.
Why does an entrepreneur need life insurance?
Four situations come up again and again: a business loan or line of credit you personally guaranteed, a shareholder agreement that calls for buying out a partner’s shares on death, a key person whose loss would hurt revenue, and a family that lives on what the business pays you.
The tax-free amount paid to your beneficiaries can clear the debt, fund the buyout, or simply buy your family time. We compare term and permanent coverage from several insurers and work out the right amount for your situation.
Ready to buy your life insurance?
Buy online in minutes, or talk to a financial security advisor.
Talk to an advisor
4.9
700+ reviews on Google