TORONTO, April 16, 2026 /CNW/ - Canada Life is enhancing its participating (par) whole life insurance offering, building on its leadership in the market by increasing flexibility and supporting long‑term planning for advisors and their clients with improved early and long-term values.

Informed by advisor and distributor feedback, and keeping client's long-term interests front and center, Canada Life has enhanced its par product shelf to remain at the forefront of the market. The enhanced par suite offers advisors greater flexibility and more competitive long‑term value, while helping clients balance liquidity and estate objectives over time.

"Participating whole life insurance is a long-term commitment, and our responsibility is to manage it with discipline and care," said Vikram Malik, SVP Product Strategy and Solutions, Canada Life. "These updates are designed to give advisors greater flexibility and confidence, while ensuring clients continue to benefit from stable, sustainable, and well managed long-term outcomes."

The enhanced par whole life offering is one of the most flexible in the industry, giving advisors greater ability to tailor solutions to each client's unique goals. The updated compensation structure aligns advisor and client long-term interests. These changes protect policyowners by reducing lapse exposure, which can have an economic cost to policyowners through lower dividends. 

For Canada Life customers, policies are designed with flexible change options, allowing coverage and strategy to adjust when life happens; supporting clients through different stages without compromising long-term outcomes. All payment options are available across product selections, with the ability to start and stop additional deposits as financial circumstances change.

Canada Life has led participating whole life insurance products in Canada for nearly two centuries. First to issue a policy in 1847, the company has consistently paid dividends every year since, including through times of volatile markets. Today, Canada Life manages the country's largest open participating account at $61.9 billion. The updated participating whole life offering is available effective April 6, 2026.

About Canada Life

Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical, and mental well-being of Canadians. For over 175 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we've made. We proudly serve more than 14 million customer relationships from coast to coast. Canada Life is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation of Canada group of companies. Visit canadalife.com to learn more.

SOURCE Canada Life