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Great West Life

The Great-West Life Assurance Company was created in 1891, with its main office located in Winnipeg, Manitoba.

In 2016, the company helped more than 44,000 families, paying out more than $2.4 billion in claims. Great-West has more than 13 million customers and over $100 billion in retirement and investment holdings for Canadians.

In response to the growing trends in the country, Great-West Life began a program to help people with student debt prepare for their futures.

This includes teaching people about saving and applying for money intelligently to debt, retirement savings and everything in between.

Read the information below to learn more about the policies available, as well as their benefits.

Great-West Life Assurance Term Life

Term Life from Great-West is great for people with high insurance needs, but low funds. The policy has cheap premiums that stay the same for the entire term, so customers always know what they’re paying.

Clients choose 10-year and 20-year policies, and premiums only go up when a renewal is needed.

This type of policy is most common for people who want to ensure that mortgages and education are paid for and incomes are replaced.


  • Beneficiaries get a tax-free, lump sum
  • Individuals pick their coverage needs
  • More coverage than more permanent options, for less


  • Is not permanent
  • Renewal fees go up
  • Cannot borrow or take out money from the policy
  • No investments allowed

Great-West Participating Life Insurance

This type of policy offers permanent life insurance and the option for tax-advantaged cash growth.

With this coverage, Great-West takes care of the account, investing with the policyholder’s premiums to increase the value. Growth can be used for investing, dividends, death benefits, etc.

Dividends can also be used to lower the price of premiums, or they can be taken out as cash.


  • Certain tax-free death benefit so long as premiums are paid
  • Tax-advantaged cash growth
  • A chance to build wealth for retirement, for grandchildren, etc.
  • Cost options vary, letting people change their payment plans as they see fit

Great-West Universal Life Insurance

As one of the most flexible policies from Great-West, this option is great for people who like a hands-on approach.

Coverage is guaranteed for life, but the policy also offers tax-advantaged investment options that policyholders can manage.

Clients can either give the reins to their insurance agent for investing choices, or they can make the investment decisions. Either way, premiums pay for life-long protection, as well as investment portfolios for potential cash growth.

Cash growth can be borrowed against or taken out; however, by doing so, the lump-sum paid out will go down.


  • Where your money goes reflects your personal choices and risk tolerance
  • Flexible options for life
  • Cash value growth that can be used as/when the policyholder wants
  • Many payment choices

The Great-West Life Assurance Employee Reviews

When it comes to choosing a life insurance company, one of the key things is customer service. Having a company that truly cares about each and every one of their customers is important to finding coverage that is right for every person.

That being said, a company with happy employees is a company that has happy customers, too. Employee reviews at Great-West are important for research since happy employees are more likely to have a genuine need to help their customers.

A life insurance agent who is passionate about finding good coverage is likely to be the most helpful.

The Great-West Insurance employee reviews rated the company 3.6/5 stars. A lot of the reviews included positive responses to a challenging environment, great fellow staff and a company that runs smoothly from experience.

With so many reviews about a productive workplace and a professional environment, customers can expect to find a lot of helpful employees within this company.

Best Life Insurance in Canada

When it comes to the best life insurance in Canada, the answer isn’t black and white. Every individual, based on their own characteristics, will receive different insurance quotes from every company.

These factors include things like age, gender, lifestyle, medical history, and more.

However, some of the best life insurance companies in Canada are those that have been around the longest. These long-standing companies tend to have the most experience, and they can guarantee the coverage they’ve agreed to.

New companies are more of a risk since there’s no telling whether they’ll last as long as a policy does.

Great-West Assurance Company is one of the six biggest life insurance companies in Canada. In 2014, the company had a revenue of $29.7 billion, and a premium income of $2.7 billion.

In terms of the risk included in choosing a policy with Great-West, the possibility for any loss in the company is unlikely.


The Great-West Assurance Company has a lot to offer. Whether you’re seeking a short-term policy or something permanent with more flexibility, there are coverages for everyone.

The company has been able to maintain a high standard of professionalism for more than 100 years. Based on positive employee reviews and great stats, customers can rest easy knowing that this is a trusted company in real estate.

Keep in mind that while some life insurance companies are larger, that doesn’t always mean they have the best quotes.

Finding affordable, smart coverage for your needs will mean asking around and looking for options. That way, people can be sure they’ve got the coverage they need, whenever they need it.