Canadian life insurance activity saw double-digit, year-over-year growth in April, according to the latest reading from the MIB Life Index. However, the trend may be moderating – April 2026 was down 3.1 per cent when compared to March 2026.
Published monthly by MIB Group Inc., the life index indicates that life insurance application activity rose 16.3 per cent in April 2026, when compared with the same period in 2025.
“In April 2026, ages 30+ experienced year-over-year growth, in the double digits for ages 50 to 69 and in the triple digits for ages 70+,” the report states. “Ages 0-29 saw declines.”
“These results are reflective of a consistent pattern seen since May 2025 where growth increases as age increases,” they write.
They add that April’s positive activity spanned all product types. Term life applications increased 18.6 per cent, year-over-year, whole life was up 19.4 per cent and universal life was up 59.6 per cent.
“Term life saw year-over-year, double-digit growth for ages 30+ and flat activity for ages 0 to 29. Whole life saw year-over-year double-digit growth for all ages. Universal life saw year-over-year double-digit growth for ages 40 to 59, triple-digit growth for ages 60+ and declined for ages 0 to 39, in the double digits for ages 0 to 29,” they conclude.
