Canada Life
Pay your Canada Life premium by credit card.
Canada Life premiums can be paid by electronic funds transfer, like your other bills. Chexy sends that payment for you, charges your card, and you collect the rewards.
$2B+
bills processed
200K
Canadians on Chexy
$40M
rewards earned
How to
How to pay your Canada Life premium by credit card
1
Sign up for Chexy
Create your account and verify your identity. It takes a few minutes.
2
Find Canada Life
Search for Canada Life in Chexy and add your policy or account number and the premium.
3
Pick your card and the date
Choose your card and when the premium is due. You see the fee before you confirm.
4
Chexy pays Canada Life
Canada Life gets an ordinary bank payment, on time, and you collect your card’s rewards.
What you can pay
What you can pay
Your Canada Life policy
Canada Life says premiums can usually be paid the same way as other bills, including by electronic funds transfer.
- Life insurance premiums. Generally paid monthly or annually.
- Recurring payments. Schedule it once and every premium goes out on time.
1.75% per payment on Canadian-issued cards, 2.5% on international cards. Shown before you confirm.
Timing
When Canada Life gets paid
- 4 business days before it’s due
- Chexy charges your card.
- By the due date
- Chexy sends the payment to Canada Life by Interac e-Transfer, Bill Pay or pre-authorized debit, whichever they accept.
Example
What paying your Canada Life premium by card can earn
A $1,200 annual premium
On a 3% cashback card you earn
$36.00
Chexy’s 1.75% fee is $21.00, so your card is charged $1,221.00.
Illustrative estimate. Assumes the selected reward rate applies to all included payments. Before card annual fees and interest. Card eligibility and earning caps apply.
Paying your Canada Life premium by credit card: questions
Can I pay my Canada Life premium with a credit card?
Yes. Chexy charges your Visa, Mastercard or American Express and pays Canada Life by bank payment.
How often are Canada Life premiums paid?
Canada Life says life insurance premiums are generally paid monthly or annually. Schedule each one in Chexy for its due date.
What if a payment is missed?
Canada Life says coverage is generally cancelled if you stop paying your premium. Scheduling the payment in Chexy keeps it going out on time.
What does it cost?
1.75% of the payment on Canadian-issued cards (2.5% on international cards), shown before you confirm.
Does Canada Life need to sign up?
No. Canada Life receives an ordinary bank payment in the amount you entered, on the date you scheduled.
The fine print
- Canada Life notes that if you stop paying your premium, your life insurance coverage will generally be cancelled, so keep every payment on schedule.
- If your coverage is through your employer, the premium may come off your paycheque instead; check before setting up a payment.
- Changing the bank account Canada Life withdraws from uses a form that depends on your coverage (through an employer, through an advisor, or Freedom to Choose).
- American Express works only when you pick Canada Life from Chexy’s search bar; Visa and Mastercard work either way.
- Rewards are set by your card issuer, not by Chexy.
- Chexy accepts Visa, Mastercard and American Express credit cards in your name. Prepaid cards aren’t supported. Some categories (mobile, internet, gym and car leases) need Visa or Mastercard, and for utilities and taxes American Express works with eligible billers only. Logos show accepted networks, not an endorsement.
Sources: Canada Life: what are life insurance premiums? · Canada Life: how to update banking information · What bills can I pay with Chexy? · How much does Chexy cost? · Supported cards. Canada Life is not affiliated with Chexy.
Also: Pay your Equitable Life premium by credit card · Pay your Sun Life premium by credit card · Pay your Manulife premium by credit card · Pay your CMPA fees by credit card · Pay your iA Financial Group premium by credit card · Pay your Intact Insurance premium by credit card · Pay your RBC Insurance premium by credit card · Pay your belairdirect premium by credit card · Pay your Aviva premium by credit card · Pay your Co-operators premium by credit card · Pay your ICBC premium by credit card · Pay The Personal by credit card · All payees
Put your Canada Life premium on your card.
1.75% per payment on Canadian-issued cards, 2.5% on international cards