Canadian life insurance application activity saw double-digit growth in July 2026, with Year-over-Year (YOY) activity up +10.5% compared to July 2025. On a Year-to-Date (YTD) basis, activity through July was also in the double digits at +14.5%. On a Month-over-Month (MOM) basis, July 2026 was down -5.5% compared to June 2026.

Ages 50+ experienced YOY growth in July 2026, in the double digits for ages 60-69 and in the triple digits for ages 70+, while ages 0-49 saw declines. July YOY activity for ages 0-29 was down -2.8%, ages 30-39 down -1.7%, ages 40-49 down at -1.6%, ages 50-59 up +7.3%, ages 60-69 up +35.3%, and ages 70+ up +100.2%. These results are reflective of a consistent pattern seen since July 2025 where growth increases as age increases. On a YTD basis, ages 30+ saw growth, in the double digits for ages 50+, while ages 0-29 saw declines.

Based on data reported to MIB by our members, July 2026 saw YOY declines for face amounts from $1M up to but not including $2.5M and growth for other face amounts, in the double digits for amounts from $1 up to but not including $250K and for amounts $5M and over.

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

July 2026 saw YOY double-digit growth for Term Life and Universal Life and declines for Whole Life, based on information reported to MIB by our members. Term Life was up +22.3% YOY, Universal Life was up +42.7%, and Whole Life was down -3.2%. Term Life saw YOY growth for all age bands, in the double digits for ages 30+. Universal Life saw YOY declines for ages 0-49, in the double digits for ages 30-39, double-digit growth for ages 50-69, and triple-digit growth for ages 70+. Whole Life saw YOY growth for ages 0-29 and 70+, flat activity for ages 50-69 and declines for ages 30-49. On a YTD basis, all product types saw double-digit growth.

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.