You can choose from different types of life insurance policies to suit your needs:
What is Life Insurance?
Life insurance is a contract that pledges payment of an amount to the person assured (or their nominee) upon the occurrence of the insured event. It provides financial security for your family, ensuring they are protected in the event of your passing, during maturity, or at specified intervals.
- Affordable Premiums, Higher Coverage
- Simple & Transparent Protection
- Flexible Policy Options
Life Insurance
Types of Life Insurance
Life Insurance Benefits
There are a number of insurance companies in Canada which offer life insurance packages. Here's why you should consider a policy:
Secure your child's future
Insurance can help fund education or provide a financial cushion.
Retirement planning
Build a more comfortable and secure retirement.
Protection against untimely death
Ensure your family's financial stability.
Tax advantages
Some policies may offer tax benefits.
Mortgage protection
Policies like mortgage life insurance pay off your mortgage if you pass away.
Life Insurance Protects Against Two Major Risks:
- Dying prematurely-leaving a dependent family to fend for itself.
- Living to old age without visible means of support.
Life insurance is civilization's partial solution to these risks, providing certainty in place of uncertainty and timely support when it's needed most.
Common mistakes People make, when it comes to buying a life insurance:
By and large, life insurance is civilisation's partial solution to the problems caused by death. Life insurance, in short, is concerned with two hazards that stand across the life-path of every person:
- That of dying prematurely leaving a dependent family to fend for itself.
- That of living till old age without visible means of support.
Depending on your needs, you can also explore:
Punjab Insurance works with Canada's top insurance companies to provide you with a range of options and no-obligation, free quotes. We help you compare policies and choose the best solution at the most reasonable cost.
Get Competing Term Life Insurance Rates
At Punjab Insurance, find the best term life insurance rates online. Shop and get personalized life insurance quotes for you today. Life insurance has rapidly emerged as a versatile financial tool-now it's about life, health, and money. Whether you view it as protection or an investment, insurance is something we all need.
Life Insurance in Canada
Most Canadian insurance policies fall under two categories:
Our advisors serve clients in BC, Calgary, Ontario, Alberta, Quebec, and across Canada.
FREQUENTLY ASKED QUESTIONS
Frequently Asked Questions about
Life Insurance
What is life insurance, and why do I need it?
Life insurance is a contract that pays a lump sum to your beneficiaries if you pass away during the policy term. It provides financial protection for your loved ones, helps cover expenses, and can serve as an investment or retirement tool.
What types of life insurance are available in Canada?
You can choose from Term Life Insurance, Permanent Life Insurance (including Whole and Universal Life), and specialized policies like Mortgage Life Insurance or Non Medical Insurance.
How much life insurance coverage do I need?
Coverage depends on your family's needs, debts (like a mortgage), future expenses (such as education), and your income. Our advisors can help you calculate the right amount.
Can I get life insurance if I have health issues?
Yes! We offer Non Medical Life Insurance plans that require no medical exams and are ideal for people with pre-existing conditions.
What is the difference between term and permanent life insurance?
Term life insurance provides coverage for a set number of years (e.g., 10, 20, or 30), while permanent life insurance covers you for life and can include an investment or cash value component.
Is my life insurance policy valid across Canada?
Yes, our policies are available and valid in BC, Alberta, Ontario, Quebec, and most provinces across Canada.
How do I get a quote or apply for coverage?
You can get a free quote online, call us, or schedule a call with a licensed advisor for personalized guidance.
Can I review or update my existing policy?
Absolutely! Visit Your Policy to review or update your coverage at any time.
GOOGLE REVIEWS
Why Families & Businesses Choose Punjab Insurance
Aisha Malik
Sep 18, 2025
"I purchased a term life insurance plan and was impressed by the professionalism and clarity. The advisor patiently explained all options and helped me choose the right coverage. The process was smooth, and I now feel confident that my family's financial future is well protected."
Emily Carter
July 12, 2025
"Getting my health insurance was quick and hassle-free. The team guided me through multiple plans, explained benefits in detail, and answered all my questions. I felt reassured throughout the process. Their transparency and responsiveness made selecting the right policy."
Owen Mitchelle
Feb 14, 2025
"I recently filed a small claim and was impressed with how efficient and smooth the process was. The staff guided me step by step, and I received the payout promptly. The experience gave me full confidence in their service and made me feel secure about my coverage."
Arjun Patel
Nov 28, 2024
"Choosing a term insurance plan felt overwhelming at first, but the team made it simple and straightforward. They explained exactly what was covered and addressed all my questions. Premiums are affordable, and I now feel confident that my family is financially protected."
Rahul Mehta
Aug 27, 2025
"Overall, I had a positive experience purchasing health insurance. The policies were explained clearly, and I felt no pressure to decide quickly. Some email responses were slightly delayed, but the staff was friendly and helpful. I am satisfied with the coverage."
Meera Kapoor
Mar 22, 2025
"I was looking for reliable health insurance and found the team very supportive. They explained all policy benefits and helped me select the best coverage for my needs. It took a little longer than expected to receive all documents, but the overall process was smooth and reassuring."
Safeguard your family's tomorrow with reliable life insurance. Enjoy strong protection at affordable costs, providing lasting financial support for loved ones when you're not around. Confidence today builds security for generations ahead.
Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.