Top 10 Life Insurance Providers in New Brunswick

Financial planning is one of the most essential things to do in life to save yourself from the financial burden that comes with any unforeseen events in life. One of the most effective ways to create a safety net for your loved ones is through life insurance. While no one likes to dwell on worst-case scenarios, a life insurance policy can safeguard your family’s financial future, ensuring that bills, debts, and essential household expenses can still be covered if you’re no longer around to provide for them.

New Brunswick residents can choose from various life insurance providers—some are national companies with wide-ranging policy options, while others are locally rooted insurers who understand the unique needs of the province’s communities. When deciding on the right life insurance provider, factors such as coverage amount, policy type (term or permanent), premium costs, underwriting requirements (such as medical exams), and optional riders (like critical illness, disability, or child coverage) all play a pivotal role.

We take a comprehensive look at the Top 10 Life Insurance Providers in New Brunswick below. Our discussion would involve highlighting each company’s offerings, standout features so that it becomes easier for you to choose the right insurance provider as per your own needs.

Top 10 Life Insurance Providers in New Brunswick

1. PolicyMe – Best Overall Term Life Insurance Province

Highlights

• Easy and digital application for faster approvals
• Lower rates than most competitors
• Coverage up to $5 million, with terms from 10 to 30 years
• 100% online process; no excessive paperwork or extensive medical exams
• When couples apply jointly, they can receive a 10% discount on first year premiums
• Free $10,000 child coverage per child

PolicyMe has quickly gained popularity as an easy and affordable way to get term life insurance. The company provides the flexibility to apply online and provides a quick decision on application. The decision is often reached instantly and does not require extensive paperwork or long medical exams.

This ‘no hassle’ model is particularly attractive for busy professionals and families of New Brunswick who require quick, reliable coverage.

What’s more, the special features revolving around family are worth noting. After the approval, parents will automatically get $10,000 in free child coverage for each child, without paying extra on your monthly premium.

Although PolicyMe specializes in term life insurance and does not offer permanent coverage options, its affordability, simplicity, and quick application process make it one of the top choices for those seeking reliable life insurance in New Brunswick.

To get an quote on you coverage needs, visit the online portal and get a quote instantly.

2. Medavie Blue Cross (New Brunswick-Based)

A Community-Oriented Insurer With a Broad Range of Products

Key Features

• Headquartered in Atlantic Canada, with a strong presence in New Brunswick.
• Offers term life, whole life, and other insurance solutions, including health and dental.
• Reputation for quality customer service and local community involvement.
• Opportunity to bundle life insurance with extended health care plans for cost savings.

Medavie Blue Cross is a not for profit organization with its roots in Atlantic Canada. They carry a good reputation for offering reliable insurance products. Aside from life insurance, their offering also includes health, dental and travel coverage, making it convenient to bundle multiple policies under one roof.

Medavie Blue Cross has a commitment to providing personalized customer service to residents of New Brunswick and a general understanding of the unique needs of the region (e.g. coverage for people working in the fishing or forestry industry, whose jobs might present different occupational risks).

3. Canada Life

A National Insurance Giant With Local Accessibility

Highlights

• One of the oldest and largest life insurers in Canada.
• Offers comprehensive product lines: term, whole, and universal life.
• Convertible term policies for flexible transitions to permanent insurance.
• Strong financial stability with a longstanding history of reliable claims service.

Canada Life has a national footprint and there are many advisors in New Brunswick that sell Canada Life’s robust insurance plans. Canada Life is able to cater to almost every insurance requirement, from short term coverage for young families and investment focused universal life insurance.

A standout feature is that if you start with term coverage, you can later convert it to a permanent policy without another medical exam.

Canada Life has a reputation for good customer service, a broad range of products and strong financial strength, making it a go to choice for those looking for reliability and flexibility.

If you want to have a look at the top no medical exam insurance providers in Canada, have a look at our list of the Best 8 No Medical Life Insurance Companies in Canada.

4. Sun Life Financial

A Versatile Provider With Digital Convenience

Key Features

• Range of policy options: term, whole, and universal life insurance.
• Online policy management tools and quote calculators.
• Options to add critical illness, disability, and other riders.
• Known for strong financial backing and a history dating over a century.

Sun Life is a household name for its wide range of insurance, investment, and financial planning products. Sun Life’s user friendly digital tools are available for families in New Brunswick who prefer managing their finances online, including quotes, policy updates and even claims submission. You can easily track the coverage details and update the same without having to visit the office frequently.

If you are looking for a no medical life insurance option in Canada. Read our article on Best 9 No Medical Life Insurance Companies in Canada.

5. RBC Insurance

A Leading Bank-Backed Insurer With Comprehensive Offerings

Highlights

• Backed by the Royal Bank of Canada, one of the country’s largest banks.
• Offers term life, whole life, and universal life with customization options.
• Provides specialized coverage for business owners, mortgage protection, and more.
• Robust online tools for claim management and policy updates.

Another well known name in Canada is RBC Insurance which provides a complete range of insurance products to individuals, families and businesses. In addition to this, if you are already banking with RBC, you will be able to manage both your banking and insurance needs in one ecosystem.

If you want strong financial backing and the advantage of integrated banking and insurance offerings, then RBC Insurance is very much worth considering.

If you are a small business owner in Canada and are looking for small business insurance, read our guide on Top 20 Canadian Small Business Insurance Providers.

6. Manulife Financial

Innovative Health-Centric Coverage and Reward Programs

Key Features

• Offers the Manulife Vitality program that rewards policyholders for healthy habits.
• Range of life insurance options: term, whole, and universal.
• Additional riders for critical illness, disability, and long-term care.
• Strong financial ratings and history of global operations.

Manulife’s Manulife Vitality program is truly innovative in the world of life insurance and wellness incentives. Active policyholders who engage in regular exercise, annual health check ups and other healthy activities are rewarded with rewards or premium discounts. This program can be a motivator or the start of a healthier lifestyle.

If you are a startup founder and are looking for a business loan. Check out our list of 10 Startup Business Loans Available in Canada for 2025.

7. BMO Insurance

Budget-Friendly Term Coverage With Conversion Flexibility

Highlights

• Offers competitive rates on term life insurance.
• Convertible term policies to transition to permanent coverage later.
• No-medical-exam options up to certain coverage limits.
• Backed by the Bank of Montreal, offering stable financial standing.

BMO Insurance is a good option for individuals and families looking for uncomplicated, cost effective life insurance. They provide delivering easy to understand policies, without any unnecessary add-ons, or getting too complicated on underwriting requirements.

8. Industrial Alliance (iA Financial Group)

Longstanding Reputation With Diverse Product Lines

Key Features

• Established Canadian insurer with roots dating back to 1892.
• Offers term, whole, universal life, and segregated fund products.
• Multiple optional riders, including critical illness and child term coverage.
• Competitive pricing and stable financial track record.

iA Financial Group is known for providing a variety of insurance and investment products. If you are looking for a one-stop solution to cover a range of financial needs, such as life insurance, retirement savings, and wealth management, then iA could be the right fit.

If you are looking for business insurance in Manitoba, check out our article on Top 9 Life Insurance Providers in Manitoba.

9. Assumption Life (New Brunswick-Based)

Local Presence With Personalized Service

Highlights

• Headquartered in Moncton, NB, deeply rooted in the local community.
• Offers term, permanent, and participating life insurance products.
• Known for bilingual service (English and French) in the region.
• Online tools for quotes and policy servicing.

Assumption Life is a top-notch choice if you want an insurer who understands New Brunswick’s culture and community. The company is based in Moncton and is experienced in dealing with understanding the financial needs of New Brunswick residents. The localized, personal approach sets them apart in a market where large national players often dominate.

10. Western Financial Group

A Trusted Insurance Brokerage for Tailored Comparisons

Key Highlights

• Acts as a brokerage with access to multiple insurers.
• Personalized guidance to find the best policy for your budget and needs.
• Offers life, home, auto, and commercial insurance for diversified coverage.
• Local insurance advisors familiar with New Brunswick’s market conditions.

Western Financial Group is a full-service brokerage that can help you pinpoint the ideal life insurance policy by comparing multiple providers. The platform allows you to easily see side by side various premium rates, coverage options, and policy features.

Final Thoughts

Life insurance in New Brunswick serves as a reliable safety net, ensuring your loved ones remain financially secure if the unexpected occurs. Picking the right life insurance provider depends on what your financial goals are, what your health condition is, and what type of coverage you require. PolicyMe remains our top pick but we recommend assessing your own unique needs and the services offered by each insurance provider to select the right option for yourself.