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Canada · 2026

Canada term life insurance cost calculator

A healthy 30-year-old in Canada pays around CA$27 a month (men) or CA$19 (women) for $500,000 of Term-20 life insurance, rising sharply after age 45 and roughly doubling for smokers. Estimate yours below.

Published rates cover ages 30–50.

Estimated premium

$41.63/mo

Annual$499.56
Coverage$500,000
Premium typeLevel

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How this estimate is calculated

Canadian Term-20 average monthly premiums for a healthy non-smoker (gender-rated). $250k and $1M rows are single-sourced; age-50 male figures run high across sources. Real rates depend on health and underwriting. Authoritative bodies: OSFI, CLHIA, Assuris. Real rates depend on your health, age and underwriting.

See our full methodology for assumptions, limits and the 2026 data used.

Sources

Written by
Colson — Founder & insurance-data researcher, ColsonSuperApps LLC
Verified
Every figure checked against its cited primary source
Last updated
June 13, 2026
Standards
Editorial policy

This is an estimate based on published average-rate data for informational purposes only — not a quote, and not insurance, legal or financial advice. Your actual price depends on the carrier and underwriting. Get a real quote for exact pricing.