Blue Cross Life Insurance Reviews: Update 2025 in Canada

For over 80 years, Blue Cross has been a trusted name among top life insurance companies in Canada. This comprehensive review provides an extensive look at Blue Cross life insurance to help you make an informed decision when choosing among Canadian providers.

What is Blue Cross?

Blue Cross is a leading insurance provider in Canada, serving over 8 million Canadians nationwide. It comprises 7 independent regional Blue Cross companies – Pacific Blue Cross, Alberta Blue Cross, Saskatchewan Blue Cross, Manitoba Blue Cross, Ontario Blue Cross, Quebec Blue Cross, and Medavie Blue Cross.

Blue Cross also includes the national provider Blue Cross Life Insurance Company of Canada, which offers comprehensive individual and group life and disability insurance policies.

Together, the regional plans and Blue Cross Life provide trusted insurance solutions tailored to the needs of individuals and families across Canada. Blue Cross Life ensures customers have the right personalized coverage while demonstrating a commitment to exceptional service and protecting financial well-being.

How Does Blue Cross Life Insurance Work?

Blue Cross Life Insurance Company of Canada offers one of the largest selections of life insurance in the country. Available products include:

• Term life insurance (10, 20, 25, 30 years)
• Whole life insurance
• Universal life insurance
• Mortgage life insurance
• Guaranteed issue life insurance

Key Features of Blue Cross Life Insurance:

• Customizable protection: Policies can be enhanced through optional supplementary riders like child riders, waiver of premium riders, and accidental death riders. This allows you to tailor coverage to your family’s specific needs.
• Financial stability: Blue Cross maintains an A+ (Superior) rating from AM Best, indicating excellent financial strength to uphold policy obligations.
• Unique no medical exam options: Blue Cross sets itself apart with guaranteed issue life insurance options that do not require a medical exam or health assessment.
• Drawbacks to consider: Availability of Blue Cross life insurance is limited compared to other national providers. It is not offered in all provinces or territories.

With its focus on flexibility and unique offerings like guaranteed issues, Blue Cross is an excellent option for Canadians wanting customized coverage. However, provincial availability limitations are something to take into account.

Is Blue Cross Life Insurance Available in Your Province or Territory?

Blue Cross life insurance is available through the following provinces and territories:

• Alberta
• British Columbia
• Manitoba
• New Brunswick
• Newfoundland and Labrador
• Northwest Territories
• Nova Scotia
• Nunavut
• Ontario
• Prince Edward Island
• Quebec
• Saskatchewan
• Yukon

It is not available directly from Blue Cross in:

• Newfoundland and Labrador
• Nunavut
• Northwest Territories

What About Pacific Blue Cross?

Pacific Blue Cross offers its own life insurance products focused on British Columbia residents. These policies are underwritten by Blue Cross Life Insurance Company of Canada. So British Columbians have access to both Pacific Blue Cross options and regular Blue Cross life insurance plans.

How Much Does Blue Cross Life Insurance Cost?

The cost of life insurance with Blue Cross depends on personal factors like your age, gender, pre-exisisting health condition, lifestyle, and province of residence.

To give you an idea of potential rates, here are sample quotes for a 20-year $400,000 term life policy from Blue Cross:

Blue Cross Term Life Insurance Sample Quotes

Getting an personalized quote is recommended to find the exact premium costs for your lifesituation. Our online quoting tool below can provide customized quotes from top providers for comparison.

Overall, Blue Cross offers competitive pricing on par with other top life insurance providers in Canada. Term life plans are very budget-friendly, while permanent life insurance options have higher premium costs.

How Do Blue Cross Life Insurance Rates Compare to Competitors?

Here is an overview comparing the key features of Blue Cross’ main life insurance policies:

This shows the flexibility across Blue Cross’ life insurance selections regarding term lengths, coverage amounts, underwriting requirements, and ability to convert to permanent protection.

What Does Blue Cross Life Insurance Cover?

Blue Cross offers comprehensive death benefit coverage tailored to your needs through its main life insurance offerings:

Blue Cross Term Life Insurance

Blue Cross Term Life insurance provides temporary financial protection for your loved ones for a set number of years.

• Available for terms of 10, 20, 25 or 30 years to match your specific needs
• Offers coverage amounts ranging from $25,000 up to $5 million
• No medical exam is required for qualified applicants under age 45 seeking up to $1 million in coverage
• Premiums remain level for the selected term length
• Ensures your family is financially secure through your working years or until major debts are paid off
• Provides income replacement and inheritance funds for beneficiaries
• Ideal for family breadwinners and those with young children

Blue Cross Flex Plan

The Blue Cross Flex Plan adapts to provide lifelong protection that evolves as you age.

• Initial term period selected from 10 to 30 years
• Option to convert to permanent whole life insurance at age 65 without additional medical underwriting
• Coverage amounts available from $5,000 up to $1 million
• Can add optional riders like disability, critical illness, and accidental death
• Allows you to lock in insurability while young and shift to permanent coverage later in life
• Provides lifelong financial security for spouse and peace of mind in retirement
• Cash value accumulation is available to borrow against in later years

Blue Cross Express Life

Blue Cross Express Life is guaranteed issue life insurance requiring no medical exam.

• No health questions or medical exam is required
• Offered to applicants under age 55
• Provides up to $20,000 in coverage
• Financial protection for those unable to qualify for traditional life insurance
• Limitations include reduced payouts within the first 6 months
• Simple online application process for quick coverage
• Affordable premiums make basic coverage accessible

Blue Cross Mortgage Life Insurance

Blue Cross Mortgage Life Insurance covers your outstanding mortgage loan balance.

• Secures mortgage amounts from $10,000 up to $2 million
• Matches the length of new mortgages up to age 70
• Can ensure primary residence, secondary properties, or buildings up to 8 units
• Ensures your family is not financially burdened by an unpaid mortgage if you pass away
• Provides continued housing stability and preserves your real estate investment
• Ideal for new homebuyers with large mortgages
• Peace of mind knowing your mortgage will be repaid

In summary, Blue Cross life insurance provides customized protection for your family’s financial future. They offer plans tailored to different needs, from basic guaranteed issue coverage to permanent lifetime protection.

Does Blue Cross Offer Additional Insurance Riders and Options?

To enhance coverage, Blue Cross allows policyholders to add the following supplemental protection:

Riders

Optional supplemental riders from Blue Cross provide added benefits:

• Child Rider covers all present and future children
• Waiver of premium rider maintains the policy if you become disabled
• Accidental death rider provides extra payout in cases of accidental death

Riders allow you to customize policies with protection unique to your family, health, lifestyle and career. They provide extra security during vulnerable times.

Conversion Options

Many Blue Cross term life policies include a conversion option permitting you to switch your policy to permanent life insurance.

This allows the transformation of a term policy to lifelong whole life policy or universal life policy without undergoing additional medical testing. Renewability is guaranteed regardless of any changes to your health.

Living Benefits

Some Blue Cross life plans provide early payout of death benefits if diagnosed with a terminal illness or requiring long-term care.

Living benefits allow accelerated funds if facing a critical health situation before the end of your policy term. This provides financial assistance for medical expenses and quality of life costs.

Other Insurance Offerings from Blue Cross

In addition to life insurance, Blue Cross also provides other insurance solutions for Canadians:

Health Insurance

Blue Cross offers comprehensive health insurance plans to complement provincial healthcare coverage. Their plans cover expenses for prescription drugs, dental, vision, therapy, medical equipment, and more. Coverage is available for individuals, couples, and families.

Travel Insurance

Blue Cross travel insurance provides emergency medical coverage for trips outside your province or Canada. Plans safeguard you from trip cancellation, interruption, and delay, as well as emergency medical costs abroad. Different coverage tiers are available.

Pet Insurance

Blue Cross pet insurance helps cover veterinary costs for illness, injury, and preventative care. Options include reimbursement of 80%, 90%, or 100% of eligible expenses. Annual coverage maximums from $4,000 to unlimited are available.

Group Benefits

Blue Cross provides employee benefit plans for small, medium and large businesses. Offerings include extended healthcare and dental, disability insurance, life insurance, and critical illness. Customizable plans are available.

In summary, Blue Cross delivers comprehensive insurance protection beyond just life insurance. Their health, travel, pet, and group benefits complement their strong life insurance offerings for complete coverage.

How to Apply for Blue Cross Life Insurance?

Applying for Blue Cross life insurance coverage is quick and simple. Here are the five steps:

Step 1: Get a Quote

• Visit the Blue Cross website and use the instant quote tool
• Answer a few questions about yourself like age, gender, smoking status
• Select the amount of coverage and policy term length you need
• Receive a free personalized quote for premium costs

Step 2: Complete the Application

• When ready, complete the online application form
• Provide personal details like name, contact info, beneficiaries
• Answer questions about medical history and lifestyle
• E-sign and submit the application digitally

Step 3: Underwriting Review

• Blue Cross will review your application to assess your insurability
• You may need to complete medical exams or provide additional health details
• Applicants under 45 may qualify for simplified underwriting up to $1 million

Step 4: Issue Policy

• Once approved, Blue Cross will issue your life insurance policy
• Review your policy documents to verify coverage details
• Pay your first premium to activate coverage

Step 5: Designate Beneficiaries

• Log in to your Blue Cross portal to designate beneficiaries
• Assign percentages to each beneficiary as desired
• Update beneficiary information if needed later on

The Blue Cross online application process makes getting insured simple and convenient. Their experienced underwriters will evaluate your application and issue a customized life insurance policy tailored to your needs.

How Can You Contact Blue Cross Life Insurance?

You have several options to reach Blue Cross for inquiries or support:

By Phone: Call Blue Cross directly

By Email: Customer service contact form available on the website

By Mail: Head office mailing address:

Blue Cross Life Insurance Company of Canada

10009 108th Street NW

Edmonton, AB T5J 3C5

When you contact Blue Cross, have the following information on hand:

• Your full name and contact details
• Your existing policy number (if applicable)
• Reason for your inquiry

This ensures quick access to your account and specialized support for your specific needs.

What is the Blue Cross Life Insurance Claim Process?

If faced with the unfortunate situation of needing to make a life insurance claim, Blue Cross has a supportive step-by-step process to help guide you:

Step 1: Complete the Initial Claim Form

• Visit the Blue Cross website and locate the online claim forms
• For death claims, fill out the Term Life Insurance claim form
• For living benefit claims, use the Critical Illness claim form
• Provide details of the situation, including policy number, deceased or claimant name, date of death/diagnosis
• List any medical professionals involved and upload any documents you have

Step 2: Blue Cross Claim Review

• After submission, the Blue Cross claims team will thoroughly review your application
• They may request supplementary documentation like:
  • Proof of death certificate
  • Medical records
  • Banking information
• Any required medical exams will be arranged for living benefit claims
• You will be assigned a claims concierge case manager to support you

Step 3: Claim Settlement

• Once the claim review is complete and approved, settlement processing begins
• The settlement amount depends on the policy coverage and terms
• Any applicable exclusions outlined in the policy will be taken into account
• For death benefit claims, the settlement is typically the full coverage amount
• For living benefits, the settlement may be a portion of the death benefit

Step 4: Receive the Claim Payout

• Once finalized, Blue Cross will issue payment within 1-2 weeks
• For death benefit claims, payment is made to the designated beneficiaries
• For living benefits, payment is made directly to the policyholder
• The claim payout will be sent via cheque to the approved recipients
• Your claims concierge can confirm when payment has been issued

Overall, Blue Cross strives to make the claims process as smooth and supportive as possible during difficult times. Their experienced team will guide you through each step and provide prompt payment of approved claims.

What Are the Pros and Cons of Blue Cross Life Insurance?

Blue Cross life insurance has several advantages but also some potential limitations to consider:

Pros of Blue Cross Life Insurance:

• Excellent financial strength and stability as demonstrated by AM Best A+ rating
• Ability to customize coverage through supplementary riders
• Guaranteed issue plans are available without the need for medical exams
• Positive reputation for customer service

Potential Cons to Consider:

• Provincial availability limitations compared to national life insurance providers
• Missing niche features like term life to age 100 plans

For most Canadians, Blue Cross can provide tailored and competitive life insurance coverage. Just account for differences in provincial availability and shop around for the best policy fit.

In addition to Blue Cross, there are several other highly-rated life insurance companies in Canada to consider, including Manulife, Canada Life, iA Financial, Walnut insurance, Equitable Life, CIBC Life Insurance, BCAA Life Insurance, and RBC Insurance. Comparing quotes among the top providers is wise to find the best rates and coverage for your specific needs.

Summary

Blue Cross is a leading life insurance provider known for its customized policies and unique offerings like guaranteed issue plans. With over 80 years in Canada, they provide versatile coverage focused on flexibility. Their competitive pricing, ability to enhance policies with riders, and conversion options for shifting term plans make Blue Cross a top choice. However, availability varies by province, so confirm they operate in your region. Compare quotes, too, since affordability can differ between providers. For most Canadians wanting adaptable protection, though, Blue Cross is a top contender worth considering. Their customizable plans can provide the right life insurance to safeguard your family.

Frequently Asked Questions (FAQs)