We have rebranded Retirement Advantage products as Canada Life. Visit our Retirement Account and Home Finance pages.

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Life Insurance

life insurance

If you have our Life Insurance:

  • We will make a payment to your family or beneficiaries if you die, or
  • We will make a payment to you if you are diagnosed with a terminal illness and are not expected to live for more than twelve months while the plan is in place

If you have a joint life plan, we will pay out if either of you dies or is diagnosed with a terminal illness while the plan is in place.

Once the payment has been made, your plan finishes.

There are three different ways in which you can get covered, so you can choose the plan(s) that best meets your protection needs:

level term

Level term - the amount you pay and the amount of cover stay the same from the start to the end of your policy.

increasing term

Increasing - You can choose to increase the amount you pay each year. Your amount of cover then rises, which helps your Life Insurance keep up with price increases for everyday goods and services.

decreasing

Decreasing term - the amount you pay stays the same, but has a lower starting point. This is because your amount of cover goes down from the start to the end of your policy.

Ways in which the money could be used

ways in which the money can be used

 

 


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Existing customers

Any questions or to make a claim
Please contact our
Customer Services Department

customer.services@canadalife.co.uk

Customer Services Department

Canada Life Limited
Canada Life Place
Potters Bar
Herts
EN6 5BA

0345 606 0708

Lines open Monday to Friday
from 9 am to 5 pm

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Pension Investment Plan

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CanRetire Flexible Drawdown Plan

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Fixed Term Income Plan

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Wealth Preservation Account

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Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.

Stonehaven UK Limited and MGM Advantage Life Limited, trading as Canada Life, are subsidiaries of The Canada Life Group (U.K.) Limited. Stonehaven UK Ltd is authorised and regulated by the Financial Conduct Authority. MGM Advantage Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.