Canadian life insurance application activity ended Q3-2026 up +13.7% year-to-date (YTD), achieving the highest YTD growth rate on record for the end of Q3. Activity in September 2026 saw double-digit Year-over-Year (YOY) results, up +10.3% compared to September 2025. Further, activity during Q3-2026 (July - September) compared to Q3-2025 achieved double-digit growth of +11.0% and was down -2.7% compared to the previous quarter (Q2-2026).

Throughout 8 out of 9 months in 2026, growth increased as age increased. This trend is reflected in September YOY and YTD results as well as Q3 results. September 2026 saw YOY growth for ages 40+, in the double digits for the ages 60+, and flat activity for ages 0-39. YOY ages 0-29 was flat at -1.0%, ages 0-39 flat at +0.3%, ages 40-49 up +3.9%, ages 50-59 up +6.1%, ages 60-69 up +24.2% and ages 70+ up +76.0%. When comparing Q3-2026 to Q3-2025, ages 40+ saw growth, in the double digits for ages 60+, while ages 0–29 saw declines, and ages 30-39 saw flat activity. Ages 0-29 was down -1.8%, ages 30-39 flat at +0.3%, ages 40-49 up +2.6%, ages 50-59 up +6.3%, ages 60-69 up +29.6%, and ages 70+ up +89.3%. On a YTD basis, ages 30+ saw growth, in the double digits for ages 50+, and declines for ages 0-29. YTD activity for ages 0-29 was down -3.8%, ages 30-39 up +2.6%, ages 40-49 up +6.1%, ages 50-59 up +11.6%, ages 60-69 up +40.6%, and ages 70+ up +92.0%.

Based on data reported to MIB by our members, September 2026 saw YOY growth for face amounts $2.5M and over, double-digit growth for amount from $1 up to but not including $250K, flat activity for amounts from $500K up to but not including $1M, declines for amount from $250K up to but not including $500K and double-digit declines for amount from $1M up to but not including $2.5M. When comparing Q3-2026 to Q3-2025, face amounts from $250K up to but not including $500K saw flat activity and amounts from $1M up to but not including $2.5M saw declines, while all other face amounts saw 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 saw growth for amounts from $1 up to but not including $1M as well as amounts $2.5M and over, in the double digits for amounts from $1 up to but not including $250K and for amounts from $5M and over, and flat activity for amounts from $1M up to but not including $2.5M.

When including age bands comparing Q3-2026 to Q3-2025, ages 0-29 saw growth for amounts from $500K up to but not including $1M, and declines for all other face amounts. Ages 30-39 saw growth for amounts from $250K up to but not including $1M as well as amounts $2.5M and over, and declines for all other face amounts. Ages 40-49 saw growth for amounts from $1 up to but not including $1M as well as amounts $2.5M and over, and declines for amounts from $1M up to but not including $2.5M. Ages 50-59 saw growth for amounts from $100K up to but not including $500K, double-digit growth for amounts from $1 up to but not including $100K, and $2.5M and over, flat activity for amounts from $500K up to but not including $1M, and declines for amounts from $1M up to but not including $2.5M. Ages 60-69 saw growth for all face amounts, in the double digits for amounts from $1 up to but not including $250K and for amounts $500K and over. Ages 70+ saw growth for all face amounts, in the double digits for amounts $100K and over, and in the triple digits for amounts from $1 up to but not including $100K.

September 2026 saw YOY double-digit growth for Term Life and Universal Life and declines for Whole Life, with Term Life up +22.3%, Universal Life up +30.7%, and Whole Life down -8.3%. When comparing Q3-2026 to Q3-2025, Term Life and Universal Life also saw double digits growth and Whole Life also saw decline, with Term Life up +25.0%, Universal Life up +37.6%, and Whole Life down -5.6%. When including age bands in our comparison of Q3-2026 activity to Q3-2025, Term Life saw double digits growth for all ages. Universal Life saw growth for ages 40+, in the double digits for ages 60-69, and in the triple digits for ages 70+, while ages 0-39 saw declines. Whole Life saw growth for ages 70+, flat activity for ages 0-29 and 60-69, and declines for ages 30-59, in the double digits for ages 30-39. When examining YTD activity, all products were at 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. 

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