Ontario · Relationships for life — across generations.
State of Ontario term-life pricing
This is a data note on what real Ontario term-life premiums actually look like, pulled from insurer advisor portals across 7 carriers. Free to cite: when you quote it, link back and name the source.
The headline: the spread is huge
For the same profile (same age, sex, smoking status, coverage, term), the highest sample premium can be roughly 84% more than the lowest across the 7 carriers on your comparison. A 25-year-old non-smoker, $500K, 10-year term, sampled from ~$22.05/mo on the low end to ~$40.50/mo on the high end. The cheapest rate is rarely on the first banner you see.
The age gradient is steep
Term-life premiums rise with age. For the same $500K 20-year policy: roughly $29/mo at 25, ~$30/mo at 35, and about $70/mo at 45 (sample rates, subject to underwriting). Waiting a decade (or two) adds real money over the term for the same coverage.
Insurers priced
Empire Life, Equitable Life of Canada, Foresters Financial, iA Financial Group, Manulife, ivari, Canada Protection Plan — 7 carriers, real advisor-portal premiums. A dash means that carrier did not publish a rate for that exact profile; we never invent one to fill it.
How it's compiled
Premiums are extracted from the same advisor portals licensed agents use, dated, and re-built monthly. They are sample rates subject to underwriting, not binding quotes or offers. The figure is per-profile, so any single 'average' is an approximation.
Why this data matters
Because the spread is so large, comparing carriers before you buy is the single biggest lever most buyers have. The full per-profile comparison is at quotecompass.ca/rates — pick your age, coverage, term, and it ranks the 7 carriers lowest-first.
Questions
- Can I cite this data?
- Yes — free to cite with a link back to https://quotecompass.ca and a note the figures are sample premiums subject to underwriting from insurer advisor portals.
- Is the 84% real?
- It is a real observed spread for an identical profile across the 7 carriers in our dataset, as a sample. Your exact spread depends on your age, health, coverage, and term.
- Where can I see my own number?
- Use the free quote wizard or pick a profile under /rates. No email gate to see teaser rates. Your final premium is confirmed after underwriting.
See a real profile
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