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How Does Life Insurance Work?

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We tend to have certain expectations when we’re younger about what life will be like after 50. Many of us assume that we’ll have our affairs in order, but that’s a common misconception. As we look to our retirement years, it can come as a surprise that there’s still a lot of planning to do. At Seniors Choice, we understand that looking to the future and finding financial protection for your loved ones needs to be straightforward, fair and sensible. That's why we built our policies with this in mind. With Canadian Seniors Life Insurance, you can find the exact coverage to suit your needs. At Seniors Choice, you can provide some financial help for your family without unnecessary complications. 

Life insurance is a means of providing your loved ones with a cash lump sum when you pass away. If you've been putting off taking out a policy because you’re not sure how life insurance works, don’t let uncertainty hold you back from doing what’s best for your family. We’re here to provide expert help throughout the process, so that you can feel confident in your policy. 

It’s a straightforward way to help protect the ones you love. No one wants to get snowed under with paperwork and research when it comes to organizing a life insurance policy. You have better things to do, we get it and that’s why we’ve made it so easy to get coverage.  

How does direct life insurance work?

Life Insurance is a way for you to provide financial protection for your loved ones when you pass away. While you might think all life insurance policies work the same way, every provider offers different policies. Canadian Seniors Life Insurance is available to Canadian residents aged 40-801. It has been designed with Canadian seniors in mind which means the money from a policy could help cover funeral expenses, contribute to someone’s retirement savings, or even be used to help pay outstanding debts when you pass away.  

Canadian Seniors Life Insurance is a direct life insurance policy. This means that you can only purchase a policy directly from Seniors Choice. It’s a straightforward way for you to get a tailored life insurance quote in a matter of minutes over the phone. You may not be familiar with how direct life insurance works so here’s a quick overview of the steps of the process:

Easy phone application

Apply over the phone and you could get covered in minutes. As we’ve mentioned before Canadian Seniors Life Insurance is available to Canadian residents aged 40-801.

Choose a benefit amount

Figure out how much your policy will pay out. You’ll need to have a think about what you would like your policy to pay for. It could help with things like funeral costs, a partners retirement expenses or even outstanding debts. We offer a life insurance benefit ranging from $10,000 to $250,000, depending on your age when you are applying.    

Decide a suitable rate of monthly premiums  

This is how much you will pay each month for your policy. You should carefully consider what you can afford to pay today and in the future a few years from now. With Seniors Choice, prices start at $14.88 per month2

Nominate a legal beneficiary  

This is the person who will receive the benefit amount when the time comes.

Easy claims process

When it’s time to make a claim, your loved ones can get in contact with our Canadian customer service team. We aim to make the claims process as quick and easy as possible.   

Am I eligible for life insurance?  

If you’re aged between 40 and 80 and you’re a Canadian resident1, you can apply to get covered with Canadian Seniors Life Insurance. During the application process, you will have to answer a couple of health and lifestyle questions, but this should only take a couple of minutes. 

What does life insurance cover?

With a Canadian Seniors Life Insurance policy, you’re covered immediately excluding suicide in the first 2 years. Then after 2 years, you will have full coverage for death by any cause. This means that once you have secured your tailored policy over the phone you can have peace of mind that your loved ones are protected.

How much life coverage do I need? 

You can choose a benefit amount between $10,000 and $250,000. How much insurance you need will depend on how much financial support you want to offer your loved ones in the event of your death.   

Carefully consider your benefit amount. Think about funeral costs, utilities, tax bills or other expenses you might leave behind. You might even like to use your policy as a way of leaving behind a gift. We will guide you through the process and help you get a rate of premiums that you can comfortably afford. Make to check out our online life insurance calculator to find a quote for the coverage that suits you. 

How much does coverage cost?

The cost of your life insurance coverage will depend on your age at the time of applying, your chosen benefit amount, your gender and your smoker status. Our policies start from as little as $14.88 per month2.  

How can my family make a claim?

We understand that it's a stressful time, so we make it easy to make a claim. Once your family gets in touch with us, we will begin the claims process. This will involve sending out a claims form to your loved ones. Once they have filled them out and sent them back, we will aim to process the claim as quickly as possible.

Will my beneficiaries have to pay tax on the benefit amount?

Life insurance benefits are not taxable in Canada but there may be other costs associated with your estate.  

We're here to help

If you would like to know more about how our policies work, all you have to do is pick up the phone. A member of our friendly sales team will be on hand to answer any questions you have. If you would like to take out a policy, we’re here to help you every step of the way. Call us toll free at . We’re open Monday to Friday 9am to 8pm ET (excluding public holidays).


Available to Canadian residents aged 40-80 only. Not yet available in Quebec.


For a 51-year-old female non-smoker with $20,000 of coverage.