Canadian life insurance application activity ended the first half of 2026 up +15.1% year-to-date (YTD), achieving the highest YTD growth rate and highest total application activity at mid-year on record. Activity in June 2026 also achieved record-breaking Year-over-Year (YOY) results, up +21.4% compared to June 2025 and representing the strongest results for the month of June on record. Further, activity during Q2-2026 compared to Q2-2025 achieved the highest growth rate for any Q2 on record at +15.2%. Consistent with seasonal trends, activity for Q2-2026 was flat at -1.4% compared to the previous quarter (Q1-2026).

The first half of 2026 saw a consistent pattern where monthly YOY growth percentages increased as age increased. This trend was also reflected in 2026 quarterly comparisons and YTD results. Ages 40+ saw consistent YOY growth across all 6 months, while ages 30-39 saw declines in January and ages 0-29 saw declines from January through May. As of June 2026, all ages were at YOY growth, in the double digits for ages 30+. When comparing Q2-2026 to Q2-2025, ages 30+ saw growth, in the double digits for ages 50+, while ages 0–29 saw declines. Ages 0-29 was down -3.2%, ages 30-39 up +5.9%, ages 40-49 up +8.0%, ages 50-59 up +11.4%, ages 60-69 up +41.6%, and ages 70+ up +93.3%.

Based on data reported to MIB by our members, June 2026 saw YOY growth for all face amounts, in the double digits for amounts from $1 up to but not including $1M, and for amounts $2.5M and over. When comparing Q2-2026 to Q2-2025, activity for amounts from $1M up to but not including $2.5M was flat, while all other face amounts were at growth, in the double digits for amounts from $1 up to but not including $250K as well as amounts $5M and over. On a YTD basis, activity for amounts from $1M up to but not including $2.5M was flat, while all other face amounts were at growth, in the double digits for amounts from $1 up to but not including $500K and for amounts over $5M.

When including age bands comparing Q2-2026 to Q2-2025, ages 0-29 saw growth for amounts from $500K up to but not including $1M and amounts over $2.5M, in the double digits for amounts $5M and over, and declines for all other face amounts. Ages 30-39 saw growth for amounts over $250K, in the double digits for amounts from $5M and over, and declines amounts from $1 up to but not including $250K. Ages 40-49 saw growth for amounts from $100K up to but not including $1M and amounts over $2.5M, in the double digits for amounts over $250K up to but not including $500K, and declines for amounts from $1 up to but not including $100K. Ages 50-59 saw growth for amounts from $1 up to but not including $1M, and amounts over $5M, in the double digits for amounts from $1 up to but not including $500K, and $5M and over, and declines for amounts from $1M up to but not including $5M. Ages 60-69 saw growth for all face amounts, in the double digits for amounts from $1 up to but not including $500K and for amounts $1M and over. Ages 70+ saw growth for amounts from $1 up to but not including $2.5M and amounts over $5M, in the double digits for amounts from $250K up to but not including $2.5M and amounts $5M and over, and in the triple digits for amounts from $1 up to but not including $250K, and declines for amounts from $2.5M up to but not including $5M.

For June 2026, all product types saw double digit YOY growth, with Term Life up +30.0%, Universal Life up +57.7%, and Whole Life up +15.2%. When comparing Q2-2026 to Q2-2025, all product types also saw double digit growth, with Term Life up +25.2%, Universal Life up +52.3%, and Whole Life up +14.4%. When including age bands in our comparison of Q2-2026 activity to Q2-2025, Term Life saw double digit growth for all ages. Universal Life saw double-digit growth for ages 40-69, triple-digit growth for ages 70+, and declines for ages 0-39. Whole Life saw double-digit growth for all ages.

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.

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