Co-operators Life Insurance Review

The Co-operators life insurance company offers a handful of term and permanent life insurance solutions. Although they offer a unique Term Life 1 policy, which is rare to find amongst other competing insurance companies, they don’t have appealing life insurance plans in comparison to competing life insurance companies. Therefore they receive a 1/5 Stars from Protect Your Wealth.

In this article:

• Company Overview
• Pros and Cons
• Life Insurance Products
  • Co-operators Term Life Insurance
  • Co-operators Permanent Life Insurance
  • Other Co-operators Insurance Products
• Customer Reviews

Company Overview

The Co-operators insurance group is a Canadian cooperative insurance company that was founded in 1945. Starting from a humble beginning, it began with a group of farmers in Saskatchewan trying to build a cooperative insurance company to protect their assets. It quickly became the fastest-growing life insurance company in Canada. The Co-operators has now grown to make annual revenue of $3.8 billion dollars and are headquartered in Guelph, Ontario, with their life insurance branch being headquartered in Regina, Saskatchewan. Covering people for home, auto, life, business, farm, and travel insurance now, they are managing over $56 billion in assets. The Co-operators now has over 600 locations across Canada and a team of over 6,000 employees.

Co-operators Life Insurance Pros

Co-operators Life Insurance Cons

Co-operators Life Insurance Products

The Co-operators have both term and permanent life insurance products that can fulfill various needs for people. Their term life insurance products include a 1-year long term which is renewable every year, as well as another term life insurance plan that is 10, 15, 20, 25, and 30-year terms. They also have permanent life insurance plans with a whole life insurance plan, a universal life insurance plan, and more. In addition, they offer a critical illness insurance plan suitable for individuals with disabilities.

Co-operators Term Life Insurance

Co-operators’ term life insurance offers a couple of term insurance policies: their Term Life 1, is a yearly renewable term that has a limited coverage rate of only $495,000 which is less than most other competing life insurance companies. They also have the Versatility Term™ which is offered in 10, 15, 20, 25, and 30-year terms which range in coverage from $25,000 to $5 million.

Co-operators Permanent Life Insurance

Co-operators offer 4 different types of permanent life insurance policies which are ideal for those who have long-term financial commitments and responsibilities. They offer non-participating life insurance which includes the Whole Life Suite, Infinity Term® and Responsibility® Life. They also have a participating Life Insurance plan called the Universal Life Suite. 

Don’t know the difference between whole life insurance and universal life insurance? You can find out more about permanent life and universal life here!

Other Co-operators Insurance Products

The Co-operators offer a critical illness insurance policy as well, which has similar benefits as disability insurance.

Co-operators Customer Reviews

Many Co-operators clients are satisfied with their experience with the company:

On the other end, Co-operators clients sometimes find that:

Finding the right life insurance for you

If you’re not sure of what the best insurance product or company is for you, working with a life insurance specialist can help you find the best solution to fit your particular situation. At Protect Your Wealth, we’ve been providing expert advice for all types of life insurance and work with the best life insurance companies in Canada, including for no medical, term life, or permanent life insurance, since 2007. As your life Insurance broker and financial planner, we work with you to create a personalized plan for your family or business that covers and meets your needs. 

Contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today! We’re proudly based out of Hamilton, and service clients anywhere in Ontario, Alberta, and British Columbia, including areas such as Waterloo, Calgary, and Victoria.