Welcome to easyLife University
Your go-to resource for clear explanations, helpful tips, and all things life insurance. We break down complex insurance terms, answer your common questions, and make protecting your family simple. Whether you’re a first-time buyer or looking to upgrade your coverage, easyLife University has the answers you need.
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Frequently Asked Questions
What is life insurance?
You are on track to reaching your goals in life. You may have landed your first full-time job, moved out of your parents’ home and
What is life insurance? Keep Reading
How much does life insurance cost?
It depends on the type of coverage you choose. Generally, term insurance is more affordable than permanent insurance. But there are a lot of factors
How much does life insurance cost? Keep Reading
What are the different types of life insurance?
Individual Life Insurance Policies generally fall into two categories: permanent and term.Permanent life insurance is typically used to cover needs that will always be there,
What are the different types of life insurance? Keep Reading
Do I need life insurance?
If you aren’t sure if you need life insurance, ask yourself these questions: Life insurance isn’t one-size-fits-all. Your unique situation will determine if and when
Do I need life insurance? Keep Reading
Easy Facts
What is term insurance?
Term insurance covers you for a specific period of time and has an expiry date. It is suitable for more temporary needs or expenses with
What is term insurance? Keep Reading
What does “renewable” mean?
If your term life insurance policy is renewable, it means you have the option of continuing your coverage for another term once your current period
What does “renewable” mean? Keep Reading
What does “convertible” mean?
Convertible term insurance offers temporary coverage with a valuable extra feature. It starts like regular term insurance, protecting you for a set period (like 10,
What does “convertible” mean? Keep Reading
What is Term 10, 20, and 30 insurance?
These numbers refer to how long your coverage lasts. Think of it like renting protection for a set period of time: Which one is right
What is Term 10, 20, and 30 insurance? Keep Reading
How to Apply
How long does it take to get approved?
In most cases, getting approved for life insurance with easyLife is quick and easy! If you’re young and healthy, and you’re only applying for a
How long does it take to get approved? Keep Reading
Will I need a medical exam?
It depends on a few things, like your age and how much coverage you want. Each insurance company has different requirements, but we’ll walk you through
Will I need a medical exam? Keep Reading
What is underwriting?
It’s how insurance companies decide your premium. Think of it like a background check for your life insurance. They’ll look at things like your age,
What is underwriting? Keep Reading
How long does the underwriting process take?
It depends! Every application is different. Here’s what affects the time: If you’re young and healthy, and you’ve answered everything clearly, approval can happen within
How long does the underwriting process take? Keep Reading
Beneficiaries
What is a beneficiary, and how do I choose one?
When you purchase a life insurance policy, you can name a beneficiary. A beneficiary is a person or persons who will receive the death benefit
What is a beneficiary, and how do I choose one? Keep Reading
Who can be a beneficiary?
You can name your spouse, children, dependents, another family member, a friend, or a charity as a beneficiary. If you name more than one beneficiary,
Who can be a beneficiary? Keep Reading
Can my children be my beneficiary?
It’s easy to name your children as beneficiaries, as long as they’ve reached the age of majority (18 in most provinces).
Can my children be my beneficiary? Keep Reading
Can I name my under-age children as beneficiaries?
In Ontario, children under 18 cannot receive control over any money left to them in an insurance policy. If you want the children to receive
Can I name my under-age children as beneficiaries? Keep Reading
Estate Planning & Taxes
How does life insurance protect my family’s future?
Life insurance is a powerful tool for financial security. It provides a guaranteed payout to your loved ones when you pass away, helping them cover
How does life insurance protect my family’s future? Keep Reading
Is the life insurance payout tax-free?
In almost every case, yes! The money your loved ones receive from your life insurance is tax-free. There are a few rare exceptions (like a
Is the life insurance payout tax-free? Keep Reading
Can my business own my life insurance?
Yes, it can! There are a few different ways to set it up, depending on your company’s needs. We’re happy to help you figure out
Can my business own my life insurance? Keep Reading
Can my Business be the beneficiary?
Absolutely! Life insurance isn’t just for individuals – it’s a valuable tool for businesses too. It can provide financial security and help your company weather
Can my Business be the beneficiary? Keep Reading
Strategies for Business Owners
How “key person insurance” can help your business
As a business owner, you know what it takes to be successful. So, you want to protect your Business today while making sure you plan
How “key person insurance” can help your business Keep Reading
Transition your business to new ownership with succession planning
If you’re a small business owner and you haven’t made a succession plan, now is an excellent time to start. You can help your business
Transition your business to new ownership with succession planning Keep Reading
How to plan for retirement as a small business owner
If you’re a business owner, you’re probably focused on the day-to-day tasks with your Business. You may not be thinking about retirement – even if
How to plan for retirement as a small business owner Keep Reading
What is an IFA (Immediate Finance Arrangement)?
The Immediate Financing Arrangement is a financial strategy that provides an opportunity for individuals and incorporated business owners to obtain the permanent life insurance coverage
What is an IFA (Immediate Finance Arrangement)? Keep Reading
Donating to a Charity
Can I donate my life Insurance policy to charity?
When you pass away, your life insurance policy can provide more than just financial support to your loved ones. It can also be a meaningful
Can I donate my life Insurance policy to charity? Keep Reading
Can I donate a percentage of my life insurance policy to a charity?
You bet! Just like you can donate your entire policy, you can also choose to give a percentage of the payout to your favourite cause.
Can I donate a percentage of my life insurance policy to a charity? Keep Reading
What are the tax benefits of donating my life insurance?
Donating your life insurance to a registered Canadian charity is a win-win. Not only are you supporting a cause you care about, but you can
What are the tax benefits of donating my life insurance? Keep Reading
Can I donate my life insurance to any charity?
You can support any registered Canadian charity with your life insurance donation.
Can I donate my life insurance to any charity? Keep Reading
Service Information
Can I call the insurance company directly for service?
No problem! Just give them a call and have your policy number handy. We’ve listed their contact info below for easy reference. Canada life canadalife.com
Can I call the insurance company directly for service? Keep Reading
Need to make a change? We’re here to help!
If you have questions or need to change anything on your policy, just get in touch. For simple updates like your address, you can contact
Need to make a change? We’re here to help! Keep Reading
Still have questions? We’re here to help!
Didn’t find the answer you were looking for? No worries, we’re happy to chat! Give us a call or book a meeting online, and we’ll
Still have questions? We’re here to help! Keep Reading
Going through a divorce? Your life insurance might need an update.
Life changes can mean changes to your insurance. If you’re going through a divorce, we can help you make sure your coverage still reflects your
Going through a divorce? Your life insurance might need an update. Keep Reading
All About easyLife
Why should I choose easyLife?
Because it’s easy! We understand that life insurance is about protecting the people you love. That’s why we make it simple to understand your options
Why should I choose easyLife? Keep Reading
Who’s behind easyLife? Meet our insurance experts.
The Who: We’re a team of seasoned life insurance pros with over 25 years of experience. We’ve helped countless families and businesses find the right
Who’s behind easyLife? Meet our insurance experts. Keep Reading
Why choose easyLife? Experience the difference.
We get it – life insurance can be confusing. That’s why we created easyLife: to make finding the right coverage simple, stress-free, and even (dare
Why choose easyLife? Experience the difference. Keep Reading
What types of insurance does easyLife offer?
We offer every type of life insurance you can imagine! Not sure which type of insurance is right for you? No problem! Let’s chat about
What types of insurance does easyLife offer? Keep Reading
Term Insurance
What are the different types of life insurance?
Individual Life Insurance Policies generally fall into two categories: permanent and term.Permanent life insurance is typically used to cover needs that will always be there,
What are the different types of life insurance? Keep Reading
What is term insurance?
Term insurance covers you for a specific period of time and has an expiry date. It is suitable for more temporary needs or expenses with
What is term insurance? Keep Reading
What does “renewable” mean?
If your term life insurance policy is renewable, it means you have the option of continuing your coverage for another term once your current period
What does “renewable” mean? Keep Reading
What does “convertible” mean?
Convertible term insurance offers temporary coverage with a valuable extra feature. It starts like regular term insurance, protecting you for a set period (like 10,
What does “convertible” mean? Keep Reading
Permanent Insurance
What is Term to 100?
Term to 100 is a type of permanent life insurance. This means it covers you until age 100, guaranteeing a payout for your loved ones
What is Term to 100? Keep Reading
What is permanent insurance?
The basic features of permanent policies are: Non-forfeiture options are available to you if you miss or decide to discontinue paying premiums on your policy.
What is permanent insurance? Keep Reading
When permanent life insurance makes sense
Think permanent insurance is too pricey? Not necessarily! It depends on your needs. If you want lifelong protection – maybe to cover estate taxes or
When permanent life insurance makes sense Keep Reading
Get the best of both worlds with a permanent/term combo
A permanent/term combo is a flexible life insurance solution that combines two types of coverage: By combining these two types of coverage, you can address
Get the best of both worlds with a permanent/term combo Keep Reading
Find the perfect fit for you
Ready to get covered? Compare top insurers and find the right policy for your needs and budget.
Let’s go!