Canadian life insurance application activity saw growth in January 2026 compared to January 2025, with Year-over-Year (YOY) activity up +9.2%, achieving the highest total volume of activity for any January on record. On a Month-over-Month (MOM) basis, January 2026 was up +13.3% compared to December 2025, representing the fourth year in a row with double-digit MOM growth in January. 

In January 2026, ages 40+ experienced YOY growth, in the double digits for ages 50+, and ages 0-39 saw declines, in the double digits for ages 0-29. January YOY activity for ages 0-29 was down -10.7%, ages 30-39 down -2.8%, ages 40-49 up at +4.6%, ages 50-59 up +14.0%, ages 60-69 up +39.5%, and ages 70+ up +61.5%. These results are reflective of a consistent pattern seen since August, where growth increases as age increases.

Based on data reported to MIB by our members, January 2026 saw YOY growth for face amounts from $1 up to but not including $500K and for amounts $2.5M and over, in the double digits for amounts from $100K up to but not including $250K, and flat activity for amounts from $500K up to but not including $2.5M. 

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

January 2026 saw YOY growth for all product types, where this information was reported to MIB, in the double digits for Universal Life and Whole. Term Life was up +5.7% YOY, Whole Life was up +22.3%, and Universal Life was up +59.6%. Term Life saw YOY growth for ages 40+, in the double digits for ages 50+, flat activity for ages 30-39, and double-digit declines for ages 0-29. Whole Life saw YOY growth for all ages, in the double digits for ages 30+. Universal Life saw YOY growth for ages 40+, in the double digits for ages 40-59, and in the triple digits for ages 60+, and saw 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. Additionally, applications with unknown product type are included only when the line of business is indicated as life insurance. 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.