Assumption Life is one of the few Canada-wide life insurers based in Atlantic Canada. It sells regular term and whole life, but it's best known for its range of simplified-issue plans. There are four tiers (Platinum, Golden, Silver and Bronze), so most people can find a plan whatever their health.
Assumption Life at a glance
| Assumption Life | |
|---|---|
| Head office | Moncton, New Brunswick (770 Main Street) |
| Ownership | Assumption Mutual Life Insurance Company, a mutual company owned by its policyholders. Founded in 1903 by Acadians in Massachusetts, it moved to Moncton in 1913. |
| How it's sold | Through independent advisors and its own network |
| Can Pankaj arrange it? | Yes. Pankaj can compare and arrange it for you. |
Products
Term life
- FlexTerm: fully underwritten term in 10, 15, 20, 25, 30 or 35-year lengths, with joint first-to-die and a term exchange option. Renews to age 90 and converts to Assumption whole life up to age 75.
- Platinum Protection Term: simplified issue (questionnaire only), 10 or 20 years.
- Golden Protection Term: simplified issue, 20-year term for ages 18 to 70, up to $250,000, coverage starts straight away. Renews automatically to age 90 at guaranteed rates, and converts to whole life up to age 75.
- Youth Plus: term cover for children from 15 days to 17 years old, level to age 25.
Permanent life
- Platinum Protection Whole Life: no exam or blood tests, ages 18 to 80, $10,000 up to $750,000 (ages 18 to 50), $500,000 (51 to 75) or $250,000 (76 to 80). Paid for life or over 20 years; single, joint first-to-die or last-to-die.
- Golden Protection Whole Life: simplified issue with immediate coverage, ages 18 to 80, from $5,000 up to $250,000 ($100,000 from age 76).
- Silver Protection for people with more serious health conditions, and Bronze Protection, a guaranteed-issue plan for those who can't qualify anywhere else. Bronze has a two-year waiting period on natural death.
- Participating and non-participating whole life, fully underwritten.
Critical illness
- Critical Protection critical illness insurance, and a critical illness rider on FlexTerm.
Other products
- Optional riders include accidental death, Accidental Fracture Plus, child term, disability income and waiver of premium.
What stands out
- Four simplified tiers, so if you don't qualify for one plan there's often another step down.
- Golden and Platinum Protection start immediately, with no waiting period.
- Built-in transportation benefit: up to $2,000 to bring someone home if they die more than 200 km away.
- Based in Moncton, so it's a familiar name for families in New Brunswick and Nova Scotia.
Who it suits
- people over 40 who want no-medical whole life
- anyone with a health history that rules out regular term
- families who want a term length longer than 30 years
When to look elsewhere
Simplified plans cost more than fully underwritten ones. If you're healthy, compare FlexTerm against the big insurers' term before choosing a no-medical plan.
How much coverage do you need?
Getting a quote
Use the quote tool above to see Assumption Life side by side with other insurers, or send Pankaj your age, smoker status and the coverage you want on WhatsApp. You pay the same premium through an advisor as you would going direct.
Common questions
Does Assumption Life require a medical exam?
Not for its Platinum, Golden, Silver and Bronze plans: you answer a health questionnaire instead. FlexTerm is fully underwritten, so larger amounts may need an exam.
Is Assumption Life a good company?
It's a mutual insurer that has been around since 1903, and it's one of the best-known names in Atlantic Canada. Pankaj can show you how its prices compare with other insurers for your age and health.
Can I buy Assumption Life through an independent advisor?
Yes. Pankaj can compare and arrange it for you.
Is Assumption Life a good insurer?
It depends on what you need. A strong choice for no-medical and simplified cover, especially for people over 40. It's also worth a look for flexible term, with lengths from 10 to 35 years.
Official sources
- Assumption Life: Golden Protection product guide (July 2026)
- Assumption Life: Platinum Protection Whole Life
- Assumption Life: Bronze Protection
- Assumption Life: new simplified-issue products (2021)
Product details are checked against the sources above as of October 2026. Insurers change products often, so Pankaj confirms current terms with every quote. This page is an independent review, not an endorsement by Assumption Life.