Canadian life insurance application activity ended the third quarter of 2026 up 13.7 per cent, the highest year-to-date growth rate recorded since the MIB Group Inc. began keeping Canadian application activity figures for its Canadian Life Index in 2018.
Year-over-year in September 2026, activity also jumped 10.3 per cent when compared to September 2025 application activity. Although the third quarter of 2026 was down 2.7 per cent when compared with the second quarter in 2026, year-over-year, July to September applications were up 11 per cent when compared with the same period in 2025.
“Throughout eight out of nine months in 2026, growth increased as age increased,” MIB’s researchers write. “This trend is reflected in September year-over-year and year-to-date results, as well as (in the) Q3 results.”
By product, September 2026 saw term life applications jump 22.3 per cent, year-over-year, universal life was up 30.7 per cent and whole life was down 8.3 per cent. When comparing the whole quarter, third quarter 2026 term life applications were up 25 per cent, universal life applications were up 37.6 per cent and whole life declined 5.6 per cent when compared with third quarter 2025 figures.
