Top 8 Life Insurance Providers in Saskatchewan

Saskatchewan is celebrated as a land of expansive fields, close knit communities and a pioneering spirit bringing modern innovation to traditional values in the heart of the prairies. There are many insurance providers in the region catering to the unique needs of Saskatchewan residents. It is important to get a good understanding of the policy and your own needs before selecting an insurance provider. A good coverage protects the members of your family from the financial consequences of a lost income, mounting debts, or unexpected expenditures.

This is a comprehensive guide to the Top 8 Life Insurance Providers in Saskatchewan. We’ve broken down each option’s most important benefits, coverage details and the unique special offers available so you can select the option that’s right for your family’s future.

Top 8 Life Insurance Providers in Saskatchewan

1. PolicyMe – Best Overall Term Life Insurance Provider

Key Features

• Fully Digital Application: Secure your policy online without the hassle of extensive paperwork.
• Coverage up to $5 Million: Suitable for families with significant financial obligations.
• Flexible Term Options: Choose from terms ranging from 10 to 30 years.
• Family-Centric Perks: Includes $10,000 in free coverage for each child and a 10% discount when couples apply together.
• Rapid Approval Process: Often bypass lengthy medical exams, ensuring swift coverage.

PolicyMe leads our list for a good reason—it’s designed for today’s busy Saskatchewan families who value convenience and affordability. By leveraging technology, PolicyMe streamlines the process of applying for life insurance, eliminating the need for in-person appointments and reducing wait times. Their platform allows you to obtain a quote and complete the application entirely online, making it ideal for those who want reliable protection without unnecessary delays.

A standout benefit is the inclusion of free child coverage: every child on your policy automatically receives $10,000 in coverage at no additional cost. Additionally, couples who choose to apply together enjoy a 10% discount on their first-year premiums. This family-first approach, combined with competitive rates and a user-friendly experience, positions PolicyMe as an excellent choice for anyone looking for straightforward term life insurance in Saskatchewan.

To get a quote on your coverage needs, visit the online portal and get a quote instantly. Read our full PolicyMe review for more info.

2. Saskatchewan Blue Cross

Key Features

• Local Expertise: Deeply rooted in the province with a strong understanding of Saskatchewan’s healthcare landscape.
• Variety of Policies: Offers term life coverage alongside bundled health and dental plans.
• Flexible Underwriting Options: Some policies are available with no medical exam required.
• Community-Focused Service: Emphasizes local customer support and personalized service.

Saskatchewan Blue Cross is known for its commitment to health and helping the community in the province. Saskatchewan Blue Cross is known primarily as a health and dental insurance provider but also offers a variety of life insurance products for individuals, families and small businesses. The policies they have are based the values and lifestyle of residents in Saskatchewan.

If you are living in Saskatchewan and worried about your debts, please take a look at our list of 6 Saskatchewan Debt Relief & Consolidation Programs in 2024.

3. Canada Life

Key Features

• Heritage and Reliability: Over 175 years of experience in the Canadian insurance industry.
• Wide Product Range: Provides term, whole, and universal life insurance options.
• Convertible Policies: Easily transition from term to permanent coverage without additional medical exams.
• Strong Financial Stability: Recognized for dependable claim settlements and robust financial backing.

Canada Life is a recognized brand in the life insurance field for a long time providing a wide range of products to cater to the changing needs of policyholders. To meet the needs of their various customers’ needs they offer a wide range of policies.

If you are looking for a small business loan for your business in Canada. Check out our article on How to Qualify for a Small Business Loan in Canada in 2025.

4. Sun Life Financial

Key Features

• Comprehensive Coverage Options: Offers term, whole, and universal life policies with customizable riders.
• User-Friendly Digital Tools: Manage your policy, submit claims, and access quotes through a robust online platform.
• Wealth-Building Potential: Universal life policies feature tax-advantaged growth and investment components.
• Established Reputation: More than 150 years of experience providing reliable insurance solutions in Canada.

Sun Life Financial is synonymous with a comprehensive approach to life insurance. Whether you are looking for a simple term policy or a universal life plan with an insurance component and investment, the company has plenty to offer. Hence, Sun Life is a strong choice for Saskatchewanians looking to protect themselves in the short term and to grow their wealth for the long term.

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.

5. RBC Insurance

Key Features

• Bank-Backed Security: Part of the Royal Bank of Canada, ensuring strong financial backing.
• Diverse Product Lines: Offers term, whole, and universal life insurance products.
• Digital Accessibility: Streamlined online tools for easy management of your policy.
• Specialized Business Solutions: Provides options like key-person insurance for small business owners.

RBC Insurance offers dependable life insurance solutions. RBC’s digital management tools make it easier for Saskatchewan residents to keep track of your policy online. For people living in remote areas, this convenience is particularly helpful as it allows them to manage their financial affairs digitally. RBC’s specialized products, such as key-person insurance, provide essential coverage for business owners looking to protect their ventures from unexpected setbacks.

6. Manulife Financial

Key Features

• Manulife Vitality Program: Incentivizes healthy living with rewards and premium discounts.
• Versatile Coverage Options: Offers term, whole, and universal life insurance products.
• Innovative Underwriting: Utilizes technology to streamline the approval process.
• Comprehensive Support: Bilingual service and localized advisors available across Saskatchewan.

Manulife Financials’ innovation edge separates it from peers. Their Manulife Vitality program offers policyholders reward for doing regular exercise & annual checkups. Not only that, this unique incentive also helps lower the cost of life insurance over time.

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.

7. BMO Insurance

Key Features

• Cost-Effective Term Plans: Designed to provide essential coverage at an affordable price.
• Convertible Policies: Option to convert term life into a permanent policy without additional medical exams.
• Simplified Underwriting: Streamlined application process with no-medical exam options available.
• Integration with Banking Services: Potential discounts and conveniences if you’re already a Bank of Montreal client.

BMO Insurance provides simple term life policies for people or families at affordable pricing. Their plans fit well with paying off specific financial obligations such as a mortgage or tuition fees during a set period, typically ranging from 10 to 30 years.

If you are looking for business insurance in British Columbia, check out our article on Top 10 Life Insurance Providers in British Columbia.

8. The Co-operators

Key Features

• Community-Focused Approach: A Canadian-owned insurer known for its commitment to local communities.
• Diverse Product Offering: Provides term, whole, and universal life insurance along with additional coverage options.
• Flexible Policy Customization: Options to tailor coverage with various riders to meet your family’s specific needs.
• Strong Customer Service: Emphasis on personalized advice and local support.

The Co-operators is a well known Canadian insurance company. It is recognized for its cooperative structure and a community centric philosophy. The company offers versatility with customizable riders that can be added with the policy.

Concluding Thoughts

Saskatchewan’s unique blend of modernity and tradition is reflected in its diverse array of life insurance solutions, ensuring there’s a plan for every stage of life. PolicyMe offer a digital-first, hassle-free experience with speed, affordability, and family-friendly benefits, making it a top choice for busy families and professionals. It is advisable to do a thorough assessment of your specific requirements before selecting the right insurance provider.