Canadian Insurers Paid Out $157 Billion in Benefits in 2025
Published
Canada's life and health insurance companies provided $157 billion in life, health and retirement benefits in 2025. This amount was 10 per cent higher than the year before, according to the Canadian Life and Health Insurance Association (CLHIA). The figure shows how much money insurers return to Canadians and their families through their policies and plans.
Life insurance benefits are payments made to families after a policyholder dies. Health benefits help people pay for medical costs that are not covered by public health care, such as prescription drugs, dental care, and treatments that are not included in provincial plans. Retirement benefits, which include pensions and annuity payments, provide regular income to people after they stop working. Together, these three areas make up the bulk of the money insurers paid out last year.
The rise of 10 per cent is a large increase in one year. The report does not give a single cause for the change, but it reflects the growing number of people who rely on private insurance and workplace benefit plans. For many Canadians, these plans are an important part of their financial security, especially as the cost of living and health care continues to change.
The CLHIA reports these figures each year to show the role that the life and health insurance industry plays in the Canadian economy. Readers who have questions about their own coverage or benefits are encouraged to contact their insurance provider or a financial advisor.
Sources: Benefits Canada.com
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