Life Insurance
in Mississauga

Get affordable life insurance quotes in Mississauga! 

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Get the best life insurance in Mississauga, Ontario

life insurance in Mississauga

Mississauga is a popular urban hub in Ontario, with a welcoming community and thriving business base. As one of Canada’s fastest-growing cities, Mississauga offers a high quality of life with its diverse neighborhoods, excellent educational institutions, and numerous recreational opportunities. 

As the city continues to expand and prosper, securing your financial future becomes increasingly important. Life insurance in Mississauga is an important financial planning tool, and with several options available in the city, it is also easy to get a life insurance quote in Mississauga.

Why should you get life insurance in Mississauga?

Life insurance policies can provide financial security for your family in the event of your death. A life insurance payout can help cover: 

  • Debt or mortgage 
  • Funeral expenses
  • Cost of living 
  • Children’s education
  • And more

Key considerations for life insurance in Mississauga

Some of the key factors to consider when purchasing life insurance in Mississauga are:

  • Cost of living
  • Demographic profile
  • Unique lifestyle factors
  • Life expectancy in Mississauga
  • Cost of funerals in Mississauga
Cost of living

As per the Toronto Regional Real Estate Board, the average price of a house in Mississauga is $1,100,000. The high housing costs also mean that Mississauga residents carry substantial debt, especially mortgage. The cost of living index in Mississauga is 73, slightly higher than the national average of 70.

The high housing economy and the high cost of living index, both indicate that Mississauga is a relatively expensive city to live in. Life insurance in Mississauga will help individuals and families ease the financial burden and maintain their lifestyle in the event of the policyholder’s demise. 

insured family in mississauga
Demographic profile

Life insurance needs in Mississauga can be influenced by the city’s demographic profile. With a median age of 39, Mississauga has a relatively young population. 25% of the population is also under the age of 20 (Census, 2021).

Younger individuals can get lower life insurance premiums since their risk of mortality is also low. To understand how much life insurance coverage you need, you can speak to a life insurance broker in Mississauga. 

Unique lifestyle factors

Insurers generally charge higher premiums for those who are in high-risk occupations. According to Statistics Canada, 10% of Mississauga’s workforce is employed in manufacturing, a sector that can be deemed high-risk due to the high possibility of workplace injuries. Mississauga life insurance quotes can be significantly affected for those working in the manufacturing industry. 

Another factor that can affect life insurance rates in Mississauga is overall health and fitness. Mississauga residents have been classified as high risk for type 2 diabetes and other lifestyle disorders due to the fact that a large number of them are overweight (Peel Public Health Report). Insurers take these factors into account during the underwriting process and will give life insurance quotes in Mississauga accordingly.  

Need help to find the best life insurance quotes in Mississauga, Ontario?

Reach out to our team of licensed insurance advisors at any time. We’re happy to help walk you through it or find the best deals for you!

Life expectancy in Mississauga

Life expectancy is a critical factor in determining life insurance costs. Younger individuals typically enjoy lower premiums due to their lower risk of mortality.

As of 2022, the average life expectancy in Mississauga is 82 years. This high life expectancy means that younger residents can benefit from significantly lower premium rates since they are expected to live longer. 

Cost of funerals in Mississauga

A life insurance policy can ease the financial burden of a grieving family by paying for the deceased’s funeral. In Mississauga, funeral costs can be a significant expense and can often range between $2,000 to $8,000. 

Compare your life insurance coverage to other families near Mississauga, Ontario

The cost of life insurance in Mississauga depends on age, gender, health status, and policy details. Here are some numbers for life insurance in Mississauga.

  • Average coverage amount per person: $238,000
  • Average premium starts at $15.50-$50.85 per month
  • Premiums for term life insurance in Mississauga can go up to $178 per month
Best life insurance companies in Mississauga

Best for simplified issue: 

Assumption Life

Best for combo coverage: 

Beneva

Best for affordability: 

BMO

Best for financial strength: 

Canada Life

Best for non-medical: 

Canada Protection Plan

Best for stability: 

Desjardins

Best for personalization: 

Empire Life

Best for families: 

Equitable Life

Best for giving back: 

Foresters

Best for quick issue: 

Humania

Best for flexibility: 

Industrial Alliance

Best for layering: 

Ivari

Best for digital innovation: 

Manulife

Best for value for money: 

RBC

Best for buying in-person: 

Sun Life

Best for price: 

Wawanesa

How do I find the best life insurance quotes in Mississauga?

Consulting with a licensed insurance advisor can help you obtain the best life insurance quote in Mississauga. Experts, like those at PolicyAdvisor, can assist in evaluating your needs and finding personalized coverage for you.

Once you get a life insurance quote, that rate is locked in if you purchase the policy. So, no matter what happens in the future, you’ll be guaranteed that same rate!

On the other hand, insurance usually costs more when you get older. Getting an affordable life insurance quote today will always be your best bet to finding the lowest rates and locking them in!

How can I get the lowest life insurance quotes in Mississauga?

You can get even lower quotes by switching up some of the features of your policy.

Life insurance prices can vary significantly based on personal factors such as gender, age, and health history. But it can also change based on the type of life insurance (term or permanent), term length, coverage amount, deductible, and payment options, among other factors, can also influence the cost.

Take a look at the table below to get an idea of how changing the amount of coverage can change your life insurance quote.

Term life insurance quotes in Mississauga, Ontario?

Coverage 10-year term (female, smoker) 20-year term (female, non-smoker) 10-year term (male, smoker) 20-year term (male, non-smoker)
$250,000 $23.28 $15.40 $25.73 $14.98
$500,000 $37.10 $24.88 $45.20 $24.70
$1,000,000 $51.00 $51.33 $76.50 $50.02

*Representative monthly premiums, based on a term life insurance quotation for 29-30 year old male and female in regular health.

Why choose PolicyAdvisor for life insurance in Mississauga?

Whether you need term life insurance, whole life insurance, no medical life insurance or any other type of coverage available in Mississauga, PolicyAdvisor has you covered.

Our easy-to-use tools and expert advisors can help with life insurance quotes in Mississauga.

  • Save time. Get no-obligation quotes from Mississauga’s top life insurance companies in minutes
  • Save money. Compare quotes from 30+ insurance providers at once to ensure you get the best price
  • Shop anywhere. PolicyAdvisor’s next-gen insurance tools let you shop and compare quotes on your phone or computer from anywhere
  • Personalized service. Every PolicyAdvisor customer in Mississauga is assigned their own experienced insurance advisor
Looking for life insurance brokers in Mississauga? Speak to our experts!

Getting life insurance is one of the biggest decisions of your life, so it makes sense that you want to be sure. Reach out to our team if you need any help! Or visit our Life Insurance Learning Centre to get all the answers to your questions before you get started.

Frequently asked questions

What types of insurance options are available in Mississauga, Ontario?

The two main types are term life insurance and permanent life insurance:

  • Term insurance provides coverage for a set period like 10 or 20 years and is the most affordable option
  • Permanent insurance lasts your entire lifetime but costs more than term for the same coverage amount

Finding the right fit for your unique goals can seem to be daunting. Seek the help of an expert life insurance broker to guide you through the process.

Where can I get life insurance quotes in Mississauga?

A life insurance broker in Mississauga can help you get life insurance quotes in the city. Mississauga is close to Toronto, where some of the major life insurance companies in Canada are located. These include RBC, TD Life, and Manulife. 

Where can I find a reputable life insurance broker in Mississauga?

There are many expert life insurance brokers in Mississauga. Research their expertise, check out client reviews, and get quotes from a few companies to compare rates and coverage options. Online resources and apps can also help you find the best life insurance brokers in your area.

Can I get life insurance with pre-existing diseases in Mississauga?

Yes, you can get life insurance even with a pre-existing disease. Mississauga has insurance companies offering life insurance with or without medical exams. While pre-existing conditions might lead to higher premiums, some companies specialize in high-risk applicants. Consider working with a broker who understands your situation and guides you in the right direction.