Canadian life insurance application activity ended Q1-2026 at double-digit growth, up +15.1% year-to-date (YTD), with activity in March 2026 up +18.6% compared to March 2025 Year-over-Year (YOY), representing the highest YOY growth for the month of March on record. Additionally, activity for Q1-2026 was up +12.3% compared to the previous quarter (Q4-2025), consistent with seasonal trends.

In March 2026, ages 30+ saw YOY growth, in the double digits for ages 40-69 and in the triple digits for ages 70+, and declines for ages 0-29. When comparing Q1-2026 to Q1-2025, ages 30+ saw growth, in the double digits for ages 50+, while ages 0–29 declined. Ages 0-29 was down -6.3%, ages 30-39 up +1.6%, ages 40-49 up +7.6%, ages 50-59 up +17.1%, ages 60-69 up +51.7%, and ages 70+ up +93.6%. Additionally, Q1-2026 saw growth across all age groups compared with Q4-2025, with double-digit growth for ages 50+.

Based on data reported to MIB by our members, March 2026 saw YOY growth for all face amounts, in the double digits for amounts from $1 up to but not including $500K, and for amounts $2.5M and over. When comparing Q1-2026 to Q1-2025, activity saw double-digit growth for amounts from $1 up to but not including $500K as well as $5M and over, growth for amounts from $2.5M up to but not including $5M, and flat activity for amounts from $500K up to but not including $2.5M.

When including age bands comparing Q1-2026 to Q1-2025, ages 0-29 saw double digit growth 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. Ages 30-39 saw double digit growth for amounts $5M and over, flat activity for amounts from $500K up to but not including $1M and for amounts from $2.5M up to but not including $5M, and declines for all other face amounts. Ages 40-49 saw growth amounts over $250K, in the double digits for amounts from $250K up to but not including $500K and for amounts $5M and over, flat activity for amounts from $100K up to but not including $250K, and declines for amounts from $1 up to but not including $100K. Ages 50-59 saw flat activity for amounts from $500K up to but not including $1M, 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 $1 up to but not including $100k, amounts from $250K up to but not including $500K, and amounts $5M and over. Ages 60-69 saw growth for all face amounts, in the double digits for amounts from $1 up to but not including $5M. Ages 70+ saw growth for all face amounts, in the triple digits for amounts from $100K up to but not including $250K, and in the double digits for all other face amounts.

When examining product types as reported to MIB by our members, all product types saw double-digit YOY growth in March, with Term Life up +16.0%, Universal Life up +72.9%, and Whole Life up +28.9%. When comparing Q1-2026 to Q1-2025, all product types saw double digit growth as well, with Term Life up +12.1%, Universal Life up +68.7%, and Whole Life up +26.7%. When including age bands in our comparison of Q1-2026 activity to Q1-2025, Term Life saw growth for ages 30+, in the double digits for ages 40+ and declines for ages 0-29. Universal Life saw double-digit growth for ages 40-59, triple-digit growth for ages 60+, 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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