Co-operators: life insurance, critical illness and investments
A Canadian-owned insurance co-operative founded by Saskatchewan farmers in 1945. Here are its life, critical illness and investment products and who each suits.
The short answer
Co-operators is a Canadian-owned insurance co-operative founded in 1945 by Saskatchewan farmers, with its group head office in Guelph, Ontario; its life company, Co-operators Life Insurance Company, is based in Regina. It offers Versatile Term (10, 15, 20, 25 and 30 years), Term Life 1, Infinity Term (term to 100), Protector and Ascend participating whole life, universal life, Critical Assist critical illness (25 covered conditions plus early partial payouts, $25,000 to $2 million) and disability coverage. Its segregated funds guarantee 75% or 100% at maturity or death, and you can change the guarantee level up to three times.
Co-operators at a glance
Co-operative Life Insurance Company started in Regina in 1945 with support from the Saskatchewan Wheat Pool. The Co-operators Group is owned by co-operatives, credit union centrals and farm organizations rather than shareholders.
Co-operators insurance and investment products
What each product does and who it suits. Names and features as published by Co-operators, reviewed October 2026.
| Type | Product | What it does | Good for |
|---|---|---|---|
| Term life | Versatile Term 10, 15, 20, 25, 30 | Level premiums for the term; renewable and convertible to permanent coverage without medical evidence. Term 10 can be exchanged for a longer term in the first 5 years. | Mortgages, families, income replacement |
| Term life | Term Life 1 | One-year guaranteed-renewable term for ages 18 to 49, under $475,000. | Short-term or starter coverage |
| Term to 100 | Infinity Term | Permanent coverage with level premiums, life-pay or 20-pay; $25,000 to $10 million. | Lowest-cost lifelong coverage |
| Participating whole life | Protector and Ascend | Par whole life with guaranteed cash values after three years and dividends; Ascend adds more limited-pay choices and paid-up additions. | Estate building, tax-sheltered growth |
| Universal life | Co-operators Universal Life | Permanent coverage with flexible deposits and investment accounts. | Flexible estate and business planning |
| Critical illness | Critical Assist | Tax-free lump sum of $25,000 to $2 million for 25 covered conditions, plus four early partial-payout conditions; child version available. | Income protection during recovery |
| Disability | Disability insurance and riders | Monthly income if illness or injury stops you from working. | Self-employed and employees without group coverage |
| Investments | Co-operators segregated funds | 75% or 100% maturity and death guarantee; switch guarantee levels up to three times; portfolio solutions such as Versatile Portfolios. | RRSP, TFSA, RRIF and non-registered savings |
Availability, ages and amounts depend on the product, province and underwriting. The contract and illustration govern.
Which Co-operators product fits you?
Pick your main goal, age and health. You'll see the Co-operators products to ask about, and when another insurer may be the better fit.
A planning aid, not advice or underwriting. Pankaj compares Co-operators with the other insurers he represents before recommending.
Where Co-operators stands out
- Canadian-owned co-operative, focused on members rather than shareholders.
- Critical Assist is one of the broader CI plans, with early partial payouts and a child version.
- Versatile Term 10 can be exchanged for a longer term within 5 years without medicals.
- Segregated funds let you change guarantee levels up to three times.
What to watch
- Term pricing is not always the lowest; compare first.
- No guaranteed-issue or no-medical life plan for those with serious health issues.
- Par dividends are not guaranteed.
- Many Co-operators products are sold by its own agents; availability through brokers can vary by product.
How to buy Co-operators through Pankaj
The premium is the same as buying direct; you also get an advisor who compares other insurers.
1. Talk about needs
Income, debts, family, goals and budget. Pankaj runs a needs analysis and compares Co-operators with other insurers.
2. Apply
Most applications are electronic, with e-signature. Some coverage needs a phone interview, paramedical exam or tests.
3. Policy and service
Pankaj delivers and explains the policy, then helps with changes, beneficiary updates, renewals and claims.
Co-operators: frequently asked questions
Who owns Co-operators?
The Co-operators Group Limited is a Canadian co-operative owned by member organizations: co-operatives, credit union centrals and farm organizations.
Co-operators Life Insurance Company, based in Regina, issues its life and health products.
What is Versatile Term?
Co-operators' term life insurance with 10, 15, 20, 25 or 30-year terms, renewable and convertible to permanent coverage without new medical evidence.
Term 10 can be exchanged for a 20, 25 or 30-year term within the first five years without a medical.
What does Critical Assist cover?
A tax-free lump sum from $25,000 to $2 million on diagnosis of one of 25 covered conditions, plus partial payouts for four early-stage conditions.
Conditions and survival periods are defined in the policy.
What is the difference between Protector and Ascend?
Both are participating whole life with guaranteed cash values after three years and dividends.
Ascend offers more limited-payment choices and lets dividends buy paid-up additions.
What are Co-operators segregated funds?
Investment funds from a life insurer that guarantee 75% or 100% of your deposits at maturity or death.
You can switch guarantee levels up to three times, and beneficiaries are paid directly, outside the estate.
Are CUMIS products the same as Co-operators?
CUMIS-branded life insurance sold through credit unions is underwritten by Co-operators Life Insurance Company.
Pankaj can review an existing CUMIS policy alongside new options.
Can I buy Co-operators life insurance through Pankaj Bhatia?
Yes. Pankaj represents Co-operators and compares it with other insurers before recommending.
The premium is the same as through any other advisor.
Written by Pankaj Bhatia, CHS, PFA
Licensed insurance & financial advisor · Insure In Canada Inc. · Mississauga & Cambridge, Ontario
Pankaj is a licensed insurance and financial advisor (Insure In Canada Inc.) who represents Co-operators alongside other Canadian insurers. He has helped families with life, critical illness and investment planning for 11 years.
Call 647-640-2222 · WhatsApp · About Pankaj · Google reviews
Get a Co-operators quote or a second opinion
Send Pankaj your age, coverage amount and goal. He'll show you the Co-operators option and how it compares.
Sources and related pages
Other insurers Pankaj represents
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Independent guide by Pankaj Bhatia, a licensed advisor; not published by Co-operators. Product names and features are summarized from Co-operators's published materials and independent reviews as of October 2026 and can change. The policy contract, illustration and fund facts govern. Segregated fund values fluctuate except for the applicable maturity and death benefit guarantees.