Every Life insurance company will offer slightly different benefits with their products. They target different types of clients and may have better pricing for the types of clients they want to attract.

Whole life is like term life insurance but with a savings component. Often whole life is used in conjunction with a tax reduction strategy.

Visit http://www.canada-life-insurance-companies.com for more info.

If there are 95 life insurance companies in Canada, what are the differences between them? I thought all life insurance companies were under the same regulations and thus offered the same products?

Also, I've never really understood the difference between term life insurance and whole life insurance. The only thing I've ever heard about whole life insurance is the joke that it's like "hole life". You just keep dumping money into the hole!!

Seriously... I like your place to talk about things. I guess I should start taking these things more seriously. There is really a small amount of technical information about what the life insurance companies offer. Their sales brochures leave much to be desired.