Canadian life insurance application activity saw double-digit growth in February 2026 compared to February 2025, with Year-over-Year (YOY) activity up +17.4. On a Month-over-Month (MOM) basis, February 2026 was up +11.6% compared to January 2026.

In February 2026, ages 30+ experienced YOY growth, in the double digits for ages 50-69 and triple digits for ages 70+, and ages 0-29 saw declines. February YOY activity for ages 0-29 was down -4.1%, ages 30-39 up +2.7%, ages 40-49 up at +8.1%, ages 50-59 up +19.4%, ages 60-69 up +60.2%, and ages 70+ up +108.3%. These results are reflective of a consistent pattern seen since May 2025 where growth increases as age increases.

Based on data reported to MIB by our members, February 2026 saw YOY double-digit growth for face amounts from $1 up to but not including $500K and for amounts $5M and over, flat activity for amounts from $500K up to but not including $2.5M, and declines for amounts from $2.5M up to but not including $5M.

When including age bands, ages 0–29 saw growth for face amounts from $500K up to but not including $1M and for amounts $2.5M and over, in the double digits for amounts $5M and over, and declines for all other face amounts. Ages 30–39 saw growth for face amounts $2.5M and over, in the double digits for amounts $5M and over and declines for all other face amounts, in the double digits for amounts from $1 up to but not including $100K. Ages 40–49 saw growth for face amounts from $500K up to but not including $1M and $5M and over, double-digit growth for amounts from $250K up to but not including $500K, flat activity for amounts from $1M up to but not including $2.5M, and declines for all other face amounts. Ages 50–59 saw double-digit growth for face amounts from $1 up to but not including $500K and for amounts $5M and over, flat activity for amounts from $500K up to but not including $2.5M and declines for all other face amounts. Ages 60–69 saw growth for all face amounts, in the double digits for amounts from $1 up to but not including $2.5M and for amounts $5M and over. Ages 70+ saw double-digit growth for face amounts from $1 up to but not including $100K and from $250K up to but not including $2.5M, triple-digit growth for face amounts from $100K up to but not including $250K and for amounts $5M and over, and declines for amounts from $2.5M up to but not including $5M.

February 2026 saw YOY double-digit growth for all product types, where this information was reported to MIB. Term Life was up +14.2% YOY, Whole Life was up +28.6%, and Universal Life was up +74.4%. Term Life saw YOY double-digit growth for ages 30+ and declines for ages 0–29. Whole Life saw YOY double-digit growth for all ages. Universal Life saw YOY double-digit growth for ages 40–59, triple-digit growth for ages 60+, and declines for ages 0–39.

Methodology Change for 2026:

MIB has revised our methodology to fine tune our age and face amount bands to better meet industry needs, while also incorporating more precise filtering to isolate new business application activity and define applicant country. Please see the main MIB Life Index page on our website for details on our methodology change. All historical data in this report has been restated based on our new methodology, however, historical reports archived on our website reflect the methodology in place at the time of publication.