Edge Benefits Life Insurance Review – Updated 2024


Edge Benefits offers guaranteed issue life insurance with coverage up to $50,000 with no medical exams or questions required. Guaranteed issue life insurance is a good option for those who do not otherwise qualify for standard coverage. Edge does not provide any other life insurance options for standard term life insurance, but they do offer other guaranteed critical illness, health, and travel insurance options.


We recommend Edge Benefits if you need a guaranteed issue life insurance policy. These policies are best for those who might not otherwise qualify for standard life insurance products but still need final expense coverage.

Read our full review below to find out more about the company, which features they offer, and what we rate their life insurance products.

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Our Edge Benefits life insurance rating and review

We give Edge Benefits a 3-star review for their life insurance offerings. The guaranteed product itself is fairly decent, but because Edge does not offer standard terms, full underwritten life insurance, and the premiums for the guaranteed product aren’t level, it does not qualify for a 5-star review.

Edge Benefits is an insurance provider that partners with other insurance companies such as the Co-operators, Green Shield, Chubb, and Beneva. Edge Benefits offers its guaranteed issue life insurance product through Chubb Insurance, who are known for these specialty types of insurance. 

What types of life insurance policies does Edge Benefits offer?

Edge Benefits offers guaranteed issue term life insurance. The guaranteed life insurance product includes coverage up to $50,000 with one term option (to age 75). Because there is only one longer-term option, premiums are age-banded, meaning that they will increase as you age.

Guaranteed Issue Life insurance

  • Term coverage to age 75 for those looking to cover final expenses
  • No medical exams or questions
  • $50,000 in coverage available
  • Available from 18 to 69 years of age
  • Living benefits provided up to 50% in case of terminal illness (accelerated death benefit)
  • Return of premium in case of non-accidental death within 2 years of policy effective date

Coverage and policy details

  • Available Term Lengths: To age 75 
  • Maximum Amount of Coverage: $50,000
  • Renewability: No
  • Convertibility: No

Pros and cons

✅ Edge Benefits life insurance pros

  • No medical exams, health questions, or medical underwriting needed
  • Fast underwriting (days or weeks)
  • Multi-product discount with health & dental
  • Coverage up to age 75
  • Online access to account
  • Digital e-policy
  • Accelerated death benefit in case of terminal illness

❌ Edge Benefits life insurance cons

  • Does not offer fully underwritten life insurance 
  • No additional riders available
  • Only $50,000 in coverage (normal for guaranteed products, but not as much as standard products)
  • Only one term offering (up to age 75)

Who is Edge Benefits?

Edge Benefits was founded in 1985, making it a relatively new player in the insurance industry (compared to those who have been around for hundreds of years). They initially sold life insurance, living benefits, and other investment products.

In 2013, Edge Benefits transformed the insurance purchasing landscape by eliminating paper applications and introducing a fully electronic application system. Two years later, it became affiliated with The Co-operators Group Limited. Furthermore, in 2019, Edge Benefits augmented its guaranteed issue critical illness insurance to $50,000, setting a new precedent as the highest coverage amount available in Canada. With a client base exceeding 60,000 policyholders, Edge Benefits has disbursed over $200 million in claims over the past 15 years.

Edge Benefits Inc operates as a strategic partner with insurance companies rather than functioning as an insurance entity itself. Among its partnered insurers are The Co-operators, Green Shield Canada, Chubb, and Beneva, ensuring comprehensive protection for Canadian consumers. Edge benefits issues their life insurance, critical illness insurance, and disability insurance products through Chubb.

Edge Benefits: Quick Facts

  • Founded: 1985
  • Headquarters: Newmarket Ontario
  • AM Best Rating: N/A
  • Better Business Bureau Accreditation and Rating: N/A
  • Assets: – 
  • Annual Premiums: –

How much does guaranteed life insurance from Edge Benefits cost?

Edge Benefits life insurance costs around $30 per month. Rates are banded and increase based on age. However, Edge Benefits has the most affordable longer term coverage, especially compared to premiums for a whole life policy.

The Edge Benefits Term Life Insurance Quotes

Age Male Female
20 $29.42 $19.26
25 $29.42 $19.26
30 $29.42 $19.26
35 $31.82 $27.34
40 $43.54 $32.28
45 $61.20 $46.06
50 $84.96 $61.80
55 $119.88 $83.72
60 $190.84 $125.02

Representative values, based on non-smokers in good health. $50,000 coverage for their guaranteed life insurance coverage.

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What other insurance policies does Edge Benefits offer?

Edge Benefits offers other insurance and investment products to customers, apart from term life, through its insurance partners

Edge Benefits critical illness insurance

Critical illness insurance offers a lump sum payment if you are diagnosed with a covered critical illness. Edge benefits offer two tiers of coverage.

Tier 1 is guaranteed critical illness coverage, meaning you can get coverage without medical exams or questions. They offer up to $50,000 in coverage for this guaranteed critical illness coverage, which is one of the highest amounts offered in the industry.

Tier 2 is their simplified critical illness insurance product. This is similar to the guaranteed product, in that there is no medical exam required. However, you must answer medical questions to qualify. If you do qualify, you can get up to $100,000 in critical illness coverage.

Read more about simplified issue vs guaranteed issue insurance.

Read our full Edge Benefits Critical Illness Insurance review

Edge Benefits disability insurance

Disability insurance will replace part of your monthly income if you become sick or injured and can no longer work. While not the most comprehensive coverage, Edge Benefits gets the edge for simplified underwriting—they can skip a few of your personal details in the application process in exchange for the “extras” that other companies provide.

Coverage is offered up to age 70 with possible 0-day waiting periods. However, because they only offer a simplified product, coverage amounts are limited compared to other standard disability products.

See our review of Canada’s best disability insurance companies.

Edge Benefits travel insurance coverage

Edge offers travel medical insurance through Beneva. Like their other products, Edge provides guaranteed issue coverage for Canadian citizens and permanent residents who frequently travel outside of their province or Canada. Coverage comes in monthly or annual travel plans (rather than per-trip plans that other providers have), with up to $5 million in emergency medical coverage.

Read more about travel medical insurance.

Edge Benefits health & dental coverage

Edge offers health and dental insurance through Green Shield Canada. Like their other products, Edge offers basic guaranteed issue health insurance, meaning that those with pre-existing health concerns will have an easier time qualifying. Those wishing to purchase enhanced coverage will have to go through medical underwriting. Plans include coverage to age 75 with three tiers of coverage available, all including dental.

See our review of Canada’s best health insurance companies.

Other financial services & insurance from Edge Benefits

Besides insurance, Edge Benefits provides Canadians with several other financial products including:

  • Business overhead expense insurance
  • Loss of income insurance
  • AD&D insurance

How can I get an Edge Benefits life insurance quotes?

Edge Benefits offers great guaranteed life insurance coverage products for those who do not otherwise qualify for standard life insurance. As insurance advisors for Edge Benefits insurance products, we can help you decide if Edge products are the best fit for you and find Edge life insurance quotes.

As Canada’s best online life insurance advisor, we will assist you in comparing and choosing products across all our partner companies. Speak to our licensed advisors and we will be able to assist you in finding the best coverage for your needs.

Need help?
Call us at 1-888-601-9980 or book time with our licensed experts.
By Jiten Puri
CEO & Founder, Insurance Advisor, LLQP
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