Manulife Highlights Growing Life Insurance Protection Gaps Among Canadians
Event summary
- Manulife Canada urges Canadians to reassess life insurance coverage due to evolving financial responsibilities and delayed traditional milestones.
- 63% of people under 40 have no immediate plans to get married, and 84% have no immediate plans to have a child (World Life Insurance Report 2026).
- Nearly one-third of Canadians say they need or need more life insurance coverage (Canadian Insurance Barometer Study).
- Manulife highlights gaps in protection as Canadians follow less traditional life and career paths, often lacking workplace coverage during transitions.
The big picture
Manulife's campaign reflects a broader industry challenge as traditional life milestones like marriage and homeownership arrive later or not at all. The shift toward non-linear career paths and gig economy roles is reshaping how Canadians access insurance coverage, creating opportunities for insurers that offer flexible, tailored solutions. With over 37 million customers globally, Manulife's focus on financial protection aligns with its enterprise strategy to empower health, wealth, and longevity through the Manulife Longevity Institute.
What we're watching
- Coverage Gaps
- How Manulife will address the widespread gap in financial protection among Canadians, particularly those with non-traditional life paths.
- Market Strategy
- Whether Manulife's push for regular coverage reviews can drive customer engagement and policy uptake amid shifting life milestones.
- Industry Trends
- The pace at which insurers adapt to evolving financial responsibilities and career transitions beyond traditional employment models.
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