Assumption Life
Just the facts
Established
1903
AM best Rating
“A” (Excellent)
Total assets
In 2021, assets under management were $2.1 billion.
Total premium in force
In 2021, premium income was $170 million.
About Assumption Life
Founded in 1903 in Massachusetts, Assumption Life is the result of a group of people who want to take their destiny into their own hands. Their goal was simple: to ensure the prosperity of Acadian families in New England.
In 1913, Assumption Life’s head office moved to Moncton New Brunswick. Our company has continued to make a difference beyond the borders of l’Acadie and, in 2007, Assumption Life went national to protect families across Canada. Assumption Life which began as a great idea 119 years ago, is now one of the largest mutual life insurance companies in Canada.
What to expect
We’re here to help
Every-day Canadians looking to cover basic individual insurance needs such as “final expense” or “mortgage insurance”.
We care
We are not a publicly traded company. Our policy holders are our stakeholders, and we are here to help them! We hustle to offer unbeatably fast, friendly service, including an average call wait time of just 56 seconds.
We love a seamless process
Easy electronic applications, and industry-leading processing times for the quickest policy execution. Applications completed in 15 minutes or less with Lia our electronic sales platform!
We are solution providers
Our products are created with your clients’ needs in mind. Providing insurance solutions that respond and adapt with their life stages is what makes our products unique.
What makes them stand out?
Our team is committed to making a difference in our communities every day. This philosophy is expressed in many ways in the company’s philanthropic efforts with a particular emphasis on health and education initiatives.
Here are a few numbers that attest to the exceptional efforts and commitment of all towards our communities:
- 90 organizations and initiatives received donations
- 6% of the company’s net profit
- More than 23 assumption life foundation scholarships
- Over 800 hours of volunteer work by our employees
Life Insurance product offerings
We have a wide selection of underwritten and simplified issue solutions as well as participating products. We are particularly competitive for final expense and mortgage insurance protection.
FlexTerm Insurance
Level & Decreasing Term Life Insurance (coverage from $50k to $10M)
ParPlus Insurance
Participating Permanent Life Insurance (coverage from $5k to $4M)
ParPlus Jr. Insurance
Participating Permanent Life Insurance for Children (coverage from $5k to $4M)
Essential Whole Life Insurance
Traditional Permanent Life Insurance (coverage from $10k to $4M)
Youth Plus Insurance
Term Insurance & Guaranteed Insurability for Children (coverage from $35k to $175k)
Platinum Protection Whole Life Insurance
Immediate coverage with the best available premiums. Ideal for healthier clients or those with a stable medical history. (coverage from $10k to $500k)
Golden Protection Elite Whole Life Insurance
Immediate coverage with competitive premiums. Ideal for clients with a medical history (coverage from $5k to $250k)
Golden Protection Whole Life Insurance
The only immediate coverage option in its health class. Ideal for clients that have medical conditions or are harder to insure (coverage from $2.5k to $100k)
Silver Protection Whole Life Insurance
Graded deferred coverage among the best premiums in its health class. Ideal for clients with serious and/or severe medical conditions (coverage from $2.5k to $50k)
Bronze Protection Whole Life Insurance
No questions, no medical exam guaranteed issue product with deferred coverage. Ideal for clients with severe health problems or high-risk lifestyles who are looking for coverage without proof of insurability. (coverage from $2.5k to $50k)
Platinum Protection Term Life Insurance
Immediate coverage with the best available premiums. Ideal for healthier clients or those with a stable medical history. (coverage from $25k to $500k)
Golden Protection Elite Term Life Insurance
Immediate coverage with competitive premiums. Ideal for clients with a medical history (coverage from $25k to $250k)
Helpful Links
For further information on this company visit the links below:
Get Started
You already know what you need and the product that fits. Let’s compare Canada’s Top Insurers.
Let’s go!