In 2003 the Great-West Life Assurance Company acquired the Canada Life Financial Corporation. The transaction brought together three leading Canadian life insurers - Great-West, London Life and Canada Life - to create an even stronger financial services organization with global reach.
Each ... Read review
Advantages: Good Product Disadvantages: Can be difficult to contact
...Life Assurance Company acquired the Canada Life Financial Corporation. The transaction brought together three leading Canadian life insurers - Great-West, London Life and Canada Life - to create an even stronger financial services organization with global reach.
Each company has a proud past: Canada Life as Canada's first and oldest insurer, founded in 1847; London Life, established in 1874 to respond to the financial security needs of a ... ...to help people in western Canada pool their savings and provide for their families.
With total assets under administration in excess of C$54 billion as of year-end 2003, Canada Life now has an even stronger platform for continued growth as a world-class
Canada Life’s vision is to be a world class financial services provider, delivering exceptional customer value and helping people achieve more through the excellence and integrity ... more
In 2003 the Great-West Life Assurance Company acquired the Canada Life Financial Corporation. The transaction brought together three leading Canadian life insurers - Great-West, London Life and Canada Life - to create an even stronger financial services organization with global reach. Each company has a proud past: Canada Life as Canada's first and oldest insurer, founded in 1847; London Life, established in 1874 to respond to the financial security needs of a growing population in southwestern Ontario; and Great-West Life, founded in Winnipeg in 1891 to help people in western Canada pool their savings and provide for their families. With total assets under administration in excess of C$54 billion as of year-end 2003, Canada Life now has an even stronger platform for continued growth as a world-class Canada Life’s vision is to be a world class financial services provider, delivering exceptional customer value and helping people achieve more through the excellence and integrity of their work force. With regards the financial strength of Canada Life, the company holds superior ratings from the major rating agencies, including A.M. Best Company, Dominion Bond Rating Service, Fitch Ratings, Moody’s Investors Service and Standard & Poor’s Corporation.
On the actual product front, Canada Life has three excellent products, which I will detail below.
Group Life Assurance – this enables employers to provide a tax-free lump sum benefit payment and or a Death in Service Pension benefits where insured.
Group life assurance offers a multiple of salary or a fixed amount as a lump sum benefit to an employee's family and dependants should they die in service. Spouse's death in service pension offers a long term income to the employer's dependants, also based upon a multiple of the employee's salary at the date of death. In addition to a spouse’s pension, benefits may be provided for surviving children or orphans if the surviving spouse also dies. This product is excellent because of the following reasons, Canada Life tend to deal with Small Medical Employers rather than the larger end of the marker, making them a more friendly company with which you can deal. Compared to other insurers in the market, Canada Life offer competitive premium rates, a wide variety of options contained in the plan means that the right plan can easily be constructed. Multinational pooling facility, generous Free Cover Limits - reducing the need for lengthy medical evidence, easy administration and flexible underwriting Whilst Canada Life is a good company to deal with in general, there can be issues in contacting them at certain times. The idea of a Customer Service Centre was created by Canada Life 18 months ago, whilst in theory this is a good idea, unfortunately Canada Life have not quite pulled it off. They are constantly having issues with their telephony systems making it difficult at times to contact them, however once you do get through you are dealt with in a very professional and efficient manner. You can contact Canada Life via email, in general responses are provided within a couple of days, sometimes the same day – again it depends on how busy they are at that point, I have found it better to call/email around mid week. Overall I think Canada Life is a good professional company, who have improved over the past 10 years from being ranked in hundreds to the 11th best insurer in the United Kingdom. They do have teething problems with the new Contact Centre, however I do feel that once these issues have been resolved, it will be a lot easier to do business with them. You should not let this one thing, which is in effect an experiment, which other insurers are now following, deter you from the good products this company has to offer.
I have an endowment policy with Sun Life of Canada. Up till recently I have had no problems with it until I asked to have my husband added to the policy so that his life also would be covered in the event of his death, I was willing to pay more money for this but they refused. They just said that they didn?t do that. I know that it is possible because I have another policy with another company and they were happy to oblige for a few extra pounds a month. I couldn?t understand Sun Life?s unwillingness to oblige.
One of the annoying things with Sun Life is that they have reps and they tend to contact you every now and again to make an appointment to see you, I guess to try to sell more services. I have always refused to see them.
Now like most other endowment policy companies they are advising people that their repayments may ...
Advantages: Save money on your life insurance, 3 months free home insurance Disadvantages: I wish I new earlier
We needed Life insurance to cover our mortgage, and I wasn't looking forward to phoning endless company's for a quote. Searching on the web, I came accross www.SOinsured.co.uk.
They say they can search all the major providers for life insurance, which include
Bright Grey
Norwich Union
Legal and General
Scottish Widows
Bupa
Scottish Provident
Friend Provident
CanadaLife
Scottish Equitable
Pioneer Friendly
Synergy Protect
Liverpool Victoria
Standard Life
I think thats most of them,
Brillant, they can do all the messing about, and get back to me with the best quote. So I filled in the form and waited. You can let them know what time you want to be called so its conveinent. They called me, at the time I said and were very helpful.
They had got a great quote from Liverpool Victoria that was comming out cheaper than ...
