This article was created in partnership with Co-operators.
As Canadians continue to navigate economic uncertainty, evolving financial goals, and growing intergenerational planning needs, one thing is becoming clear: life insurance has become more than just a safety net, it's a cornerstone of financial resilience. That’s why Co-operators is doubling down on its greatest strength: personalized advice.
“Life insurance should adapt to life, not the other way around,” explained Paul Gobeil, Vice President of Individual Insurance and Wealth Management at Co-operators. “We believe trusted guidance, whether from our exclusive advisors or independent advisors, is the key to helping Canadians make confident financial decisions.”
Last month, as the industry marked Life Insurance Awareness Month, Co-operators took a moment to spotlight its approach: make life insurance simpler to understand, easier to access and rooted in human connection.
The 2023 Canadian Insurance Barometer Study, conducted by LIMRA revealed nearly 30% of adults, about 8.4 million people, live with a life insurance need gap. They are either uninsured or underinsured, often due to perceived cost, competing priorities or lack of knowledge.
“Too often, people delay life insurance because they think it’s expensive or complex. A good advisor cuts through that - they bring clarity and confidence to the conversation,” added Gobeil. The disconnect is particularly striking among younger Canadians. While many recognize the emotional and financial value of protection, they may not act on it.
This is where Co-operators sees a critical opportunity.
“Our job is to make protection approachable,” explained Gobeil. “That means offering simple entry points, clear language, flexible products and, above all, personalized advice. That applies no matter how someone chooses to work with us - through a Co-operators exclusive advisor or an advisor affiliated with one of our MGA partners.”
Co-operators has long been seen as an advisor-led brand, and that remains central to its strategy. For Gobeil, the reason is simple; good advice changes outcomes.
“We believe strongly in the value of advice,” he explained. “Many people have misconceptions about coverage, challenges with understanding the complexity of different life insurance policies, and the value that protection brings, especially among younger generations.” Insights from LIMRA’s Barometer Study back this up. People under 30 often overestimate the cost of life insurance to be 10 to 12 times higher than the actual cost. “This signals a need for education, and that is exactly what advisors can deliver,” Gobeil notes.
While Co-operators remains deeply committed to its exclusive agency network, it has also expanded its reach through Managing General Agencies (MGAs) across Canada. “Our exclusive advisors are integral to our organization,” says Gobeil. “And we continue to grow our partnerships with MGAs who share our belief in the value of advice. It’s one of the ways we’re meeting Canadians where they are in the way that works best for them. Both channels play a vital role in helping us provide Canadians with trusted advice.”
Industry trends show why this balanced approach matters. Independent distribution has grown from 81% market share in 2020 to about 85% in 2024. “By continuing to strengthen both channels, we can reach more people in more places,” Gobeil explains. “That’s why we deliver dedicated support and service to ensure that all advisors – whether they’re an exclusive Co-operators advisor or working under one of our MGA partners – have the tools and resources they need to succeed. Our goal is simple: to make it easier for advisors to help more people.”
For Gobeil, the real measure of success is making sure Canadians can find the right coverage for their stage of life, no matter where they begin the conversation. “We’re here to support clients with a wide range of needs, and we have a robust product shelf to do so,” he notes. “Our Whole Life product is highly competitive, offering strong long-term value, asset protection, and the stability clients look for. At the same time, our term insurance provides flexible, affordable coverage that’s easy to tailor to specific life stages and budgets,” Gobeil continued.
LIMRA’s first-quarter 2025 sales report shows a 13% year-over-year jump in premiums on permanent products. “This is great, as it signals people are protecting their assets. These products often require more conversations and long-term planning, which reinforces the value of trusted advisors.”
The same LIMRA report revealed a 6% growth of term life premium. “The mix in growth of both term and permanent policies reinforces that Canadians see the value in protection, but what they’re looking for varies by their unique needs and life stages,” Gobeil notes. “That’s why having an advisor they trust to help them navigate the complexities and choose the right type and amount of coverage is so important.”
This balanced approach, rooted in education, trust and access through both exclusive and independent advisors, reflects Co-operators vision for the future. “At the end of the day, advice isn’t old-fashioned – it’s essential,” said Gobeil. “Especially in a world where uncertainty is the only constant.”
Find out more on how Co-operators can help you navigate the world of life insurance here.
