The London Life Insurance Company was founded in 1874, and its headquarters are located in London, Ontario.
It is most recognized for the slogan “Freedom 55”. The saying encourages savings that would allow someone to retire by the age of 55.
London Life is a subsidiary of Great-West Life, and together they have helped more than 440,000 families deal with loss. They have paid out more than $2 billion in life insurance claims, and have made payments of more than $800 million to Canadian’s retirement funds.
London Life helps Canadians every single day to save for an education, finance homes, protect families and prepare for retirement.
Those thinking about working with London Life may learn more about them by reading about their policies below.
London Life Term Life Insurance
A term life insurance plan from London Life is a great option for young families, individuals and business owners. This kind of coverage offers a more affordable option, which is easy to understand and simple to navigate.
At London Life, people can find a range of options when it comes to their term life insurance. Because of its flexibility, customers can make decisions about coverage and time frame that make the most sense for them.
- Premiums are guaranteed for the entire term
- Customers can choose between a 10-year term or a 20-year term
- Lump sum given to beneficiaries if the policy is in effect when the individual passes
- Affordable and straightforward
- Conversion requires no proof of health
- Premiums increase at the time of renewal
- No lump sum paid if the insured dies outside of the policy term
- No investment opportunities
London Life Participating Life Insurance
Participating Life Insurance from London Life offers people the option to create lifelong coverage as well as investment opportunities.
This makes the policy ideal for those with estate planning goals, and those who want to relieve loved ones of leftover taxes.
- Tax-advantaged cash value
- Lifelong protection
- Cash value can grow over time and be accessed while still living
- Money made from dividends can be used reducing premiums, retirement plans or tuition expenses
- More expensive than term life
- Cannot be converted to term life
- Clients are not guaranteed any dividends
London Life Universal Life Insurance
Universal life insurance from London Life is ideal for those people who are searching for flexibility. This policy provides protection that can be altered to meet the current needs of an individual or family.
- Clients can alter their premiums
- Lifelong coverage
- Flexible options for changing the policy boundaries
- Tax-advantaged cash value grows over time
- Ideal for building wealth over time
- The policy and its investments reflect the choices of the policyholder and their risk tolerance
London Life Reviews
For some people, it’s not an easy task deciding which life insurance company to work with. One of the ways that helps people to make a decision, is to check out a company’s employee reviews.
This is helpful since the success of a company essentially relies on the hard work of its employers. When employees are hard-working and dedicated to their job, customers often notice and return.
When it comes to London Life reviews, employees have rated the company 3.8/5 stars. Employees comment on the great support of their bosses, ideal co-working teams and impressive salaries.
This can be a huge help for people looking for a life insurance company. Higher employee reviews mean customers find genuine help in their search for the right life insurance policy.
Additional Services at London Life
London Life doesn’t offer just life insurance. In fact, customers can find all kinds of financial help from this company.
Some of the other services offered include:
- Wealth Management: Investing and saving, mortgages, brokerage services, etc.
- Business and professionals: Critical illness insurance, disability insurance, segregated funds, etc.
- Group Benefits
- Group retirement, savings, and income
Finding Affordable Life Insurance Rates in Canada
Everyone wants to know who is the best life insurance company in the country. Unfortunately, there isn’t a straight answer to this question.
When it comes to life insurance, there are all kinds of factors that contribute to an individual or group’s insurance quote. Even if a person is working with one of the top 10 life insurance companies, that doesn’t mean they can’t find better quotes somewhere else.
Clients find affordable insurance rates when they shop around. This means speaking with various companies and getting rates based on the individual.
Some factors life insurance companies will take into account include:
- Smoker or non-smoker
- Previous health conditions
- Hereditary illnesses
- Mental health
- …and more.
For people who are interested in getting quotes from London Life, the best way to get a realistic estimate is to connect with an advisor.
While other companies might claim their rates are better, companies like London Life are long-standing and can back up their ability to offer coverage.
With so much to consider when it comes to life insurance, London Life settles the confusion with straightforward policies. By doing so, customers can more easily sort through the options for the one that suits them best.