Life insurance for new Canadians
Insurable without Canadian credit or history, plus no-exam options
New Canadians often arrive without life insurance, believing it requires Canadian credit history or permanent residence. Neither is true.
1. The protection gap
42% of Canadians have no life insurance, and new Canadians are over-represented in that group — often because no one quotes them, not because they are uninsurable.
A term policy is especially important after major commitments like a mortgage or a new baby.
2. What actually drives your rate
Carriers price on age, sex, smoking and health — not on your credit score or how long you have lived in Canada. A landed immigrant with a clean health profile gets the same rate class as a Canadian-born applicant.
A Canadian bank account or SIN is not required to get a quote; you will need ID and, at binding, a Canadian mailing address and bank account for premium payment.
3. How to apply
Most applications need only a medical questionnaire for coverage under ~$1M. Some carriers offer simplified issue with no medical exam — ideal if your medical records are still abroad.
A licensed bilingual advisor can walk you through the paperwork and the two-year contestability period, so there are no surprises at claim time.
FAQ
Do I need a SIN to buy life insurance?＋
No. SIN is not required for quoting or applying; insurers verify identity with other ID and check medical history with your consent.
Can I buy life insurance without a medical exam?＋
Yes. Simplified-issue policies exist up to certain limits with only health questions. Full underwriting usually still gives the best rate for larger coverage.
Will claims be paid if I die in the first two years?＋
Yes, if the application was truthful. The two-year contestability period lets insurers review misrepresentation; honest applications are paid.