Top Five Health Insurance Companies in Canada

What is Health Insurance?


Health Insurance companies that bears surgical, medical, prescribed drugs and medicines, and sometimes dental expenses of the insured person. A health insurance company can pay directly to the insurer or the health services provider.

Which insurance company should I choose?

There are many insurance companies in Canada offering their services. One should choose based on customer services, financial strength, prices, deals, and discounts ratings.

Here are the list of top five:

  1. Manulife:Manulife

Manulife Financial Corporation (MFC) is one of the largest health insurance services providers in Canada.  Meanwhile, it works in Asia, Europe and, United States. The company claims to have 30 million customers, 37 thousand employees, and more than $1.3 trillion in assets. Hence It has returned $31.3 billion to customers in benefits and claims in 12 months (as of March 31, 2021).

They offer multiple types of insurance including basic health and dental insurance. Aside from these plans, the company also offer disability and critical insurance illness. Manulife also provides you with better price plans if you have three or more children. It is regarded as the best health insurance for digital innovation.

  1. Blue Cross Canada: Blue Cross Canada

Blue Cross Canada offers its services in many countries. They are famous for their wide range of plans. The company health insurance plans cover:

  • Health Care
  • Dental Work
  • Prescription Drugs
  • Vision
  • Hospital Care

Ensure to enter your location before exploring their health insurance plans. They offer insurance packages depending on the region.

  1. Sun Life Financial:Sun Life Financial

Sun Life Financial has been recognized as one of the world’s 100 most sustainable corporations by Corporate Knights in 2021. They have more than $29 billion in revenue (as of 2019).  The company claims $850 billion in assets under management.

Sun Life Financial offers two plans called Personal Health Insurance and Health Coverage Choice. The company has clients not only in Canada but also in Asia, North America, and the UK. They have a very friendly website guiding users to opt for a better plan for themselves. It is regarded as the best health insurance for in-person purchases.

  1. Great-West Lifeco: Great West Lifeco

Great-West Lifeco is a large health insurance company having $2 trillion in assets. They paid more than $39 billion in benefits to their customers (as of Dec 31, 2020). The company offers many  plans to clients. The plans are designed especially for those who don’t enjoy group benefits. The company has more than 24 thousand employees and 200 thousand advisors worldwide.

  1. Desjardins:Desjardins

Desjardins is the largest health insurance company ranking among the top 100 employers in Canada and the world by Forbes. Therefore company has served more than 7.5 million members and clients. However it boasts over $372 billion in total assets and returned $445 million to members and the community.

Desjardins offers different benefits to add-on basic health insurance policies. While  they provide comprehensive health insurance plans considering critical illness, disability, and permanent life insurance policies. Meanwhile company also offer multi-plan discount rewarding significant savings. One of the main features is that they provide online access.

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