Interest in life insurance in Canada would appear to be healthy, with year-over-year application activity up 12.1 per cent in August 2026 when compared with August 2025 figures. On a year-to-date basis, August was also up 14.2 per cent when compared with the same period in 2025. Month-over-month, however, application activity dropped 1.9 per cent.
The figures, part of the MIB Group’s monthly MIB Life Index report, show application activity growing among all age groups – except among those under age 30.
“When examining activity by face amount, based on data reported to MIB by our members, August 2026 saw year-over-year growth for all face amounts,” they write. “On a year-to-date basis, activity was flat for face amounts from $1 million, up to but not including $2.5 million, and at growth for all other face amounts, in the double digits for amounts from $1, up to but not including $250,000 and for amounts $5 million and over.”
Year-over-year, term life applications were up 31.2 per cent, universal life was up 40.6 per cent and whole life applications declined five per cent. “On a year-to-date basis, all products saw double digit growth,” they write.
