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"Nearly half of Canadians are skipping life insurance. Here’s why" - Global News

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September 10, 2025

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Canadians are skipping life insurance, and it’s mostly because they think it’s too expensive, a new report shows.

Almost half of Canadians (42 per cent) don’t have life insurance or aren’t sure if they do, and 49 per cent have no plans to purchase any in the next five years, a new survey by insurance firm PolicyMe and Angus Reid said on Wednesday.

“The biggest barrier is affordability. Our recent report found that one in three Canadians without coverage (34 per cent) say it’s too expensive, and that jumps to 42 per cent among households with children,” Ostro said.

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