Great-West Life, now part of Canada Life, is a trusted and long-standing name in the Canadian insurance landscape. Known for its strong financial foundation and diverse offerings, the company supports individuals and families across the country in securing their financial futures through comprehensive life insurance products. This page outlines everything you need to know about Great-West Life (or Great Westlife, as it's sometimes called), from their offerings to how to buy a plan, especially for NRIs in Canada.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
Founded in 1891, the Great West Life Assurance Company has evolved into one of Canada’s most reliable and widely recognised insurance providers. Now operating under the Canada Life brand, the company combines more than 130 years of experience with a broad product portfolio and a strong reputation for customer service and claim settlement. It offers life, health, and wealth solutions tailored to Canadians and global citizens residing in Canada.
Term Plans
Strong financial stability: High credit ratings and a legacy of trust.
Flexible policy options: Term and permanent life insurance options to suit various life stages.
Cash value growth: Various plans offer investment opportunities and cash accumulation.
Additional riders: Add-on features like disability waivers or critical illness benefits.
Online access: Manage your policy, make claims, and view documents digitally.
Trusted brand: A part of the larger Canada Life group, ensuring scale and credibility.
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Established reputation with over 130 years in the Canadian insurance market.
Comprehensive support through licensed advisors and digital platforms.
Custom solutions tailored for individuals, families, and business owners.
Seamless claims experience with consistent settlement history.
Term Life Insurance: Term life insurance offers coverage for 10, 20, or 30 years with an option to convert to permanent insurance without additional medical underwriting.
Whole Life Insurance: Permanent coverage with guaranteed cash value and fixed premiums.
Participating Life Insurance: Long-term protection with dividend-earning potential.
Universal Life Insurance: Flexible premiums and death benefits, paired with investment options to grow wealth.
Group Life Insurance: Employer-sponsored plans for comprehensive coverage.
Critical Illness and Disability Insurance: Optional add-ons or standalone covers to protect against life-altering conditions.
You can get a quote for Great-West Life insurance in two simple ways:
Online: Visit the official Canada Life website or use aggregator platforms like Policybazaar to compare multiple providers.
Agent: Enter your postal code to connect with a local licensed advisor who can help assess your needs and generate a tailored quote.
Information required:
Date of birth
Smoking status
Desired coverage amount
Policy duration
Health and medical history (if applicable)
Get a quote online or through an insurance advisor.
Compare the available policy types and benefits.
Submit your application with personal and medical details.
Undergo medical checks (if needed based on your chosen policy).
Get approval and start your policy with regular premium payments.
The premiums are much more affordable in India compared to the international term plans
You can claim an 18% GST waiver on the term insurance premiums paid via NRE bank account that supports feely convertible currency
Get pre-approved cover that offers global coverage and ensures that you receive continued coverage no matter where you travel
You can clear your medicals online via tele/video medicals in term insurance, removing the need to travel all the way back to India
The special exit benefits allow you to exit the plan early and receive all the premiums paid back at the termination of the policy
For NRIs, comparing term insurance for NRI in Canada from both Canada and India ensures you get the best value, flexibility, and protection tailored to your lifestyle and financial goals.
Step 1: Visit Policybazaar.com and select the NRI term insurance section.
Step 2: Share details like age, country of residence, and income.
Step 3: Select the right annual income, occupation type, smoking habits, and educational qualifications
Step 4: Choose the best term insurance for NRI in Canada and proceed to pay
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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