Key takeaway
Canadian Armed Forces members and veterans may have group life through SISIP or VAC programs, but amounts are often limited. Personal term or permanent life insurance fills gaps and stays in place after release or retirement.
SISIP and military group life coverage
SISIP (Service Income Security Insurance Plan) and other CAF-related programs may include life insurance for serving members. Coverage amounts and eligibility depend on your component (Regular Force, Reserve) and length of service.
Group coverage is usually tied to your military status. When you release or retire, that coverage may end or change. Relying on it alone can leave your family underinsured during transition or in civilian life.
Why veterans need personal life insurance
Personal life insurance is portable: it stays with you after release, regardless of where you work or live. It is also customizable — you choose the amount and term length to match your family's needs and budget.
Veterans with service-related health conditions may find that some insurers offer favourable underwriting for certain profiles; others may prefer simplified or no-medical products. Comparing multiple carriers is important.
Underwriting considerations for veterans
Underwriters consider occupation and deployment history. Most Canadian insurers do not treat veteran status as a negative; they focus on current health, age, and lifestyle. Service-related physical or mental health conditions should be fully disclosed with supporting documentation.
If you have been declined or rated by one carrier, others may view your file differently. Working with an advisor who has placed veteran cases can help match you with the right insurer.
Reservists and part-time service
Reservists may have limited or different group coverage than Regular Force members. Personal term life ensures you have stable coverage regardless of your component or future career path.
When comparing quotes, be clear about your current occupation and any planned transition to civilian life so that the policy and premiums are appropriate long term.
Frequently asked questions
Does VAC provide life insurance for veterans?
VAC administers certain benefits and programs; life insurance availability depends on your eligibility and service. Even when some coverage exists, it is often modest. Personal insurance can top up or replace it after release.
Will my military service affect my life insurance rates?
In most cases, veteran or former CAF status alone does not increase rates. Underwriters care about current health and lifestyle. Deployment-related injuries or conditions may be assessed on a case-by-case basis.
Should I get life insurance before or after I release?
Locking in coverage before release can be advantageous if you are in good health, as age and health drive pricing. After release, you still have options; compare quotes and consider both term and permanent needs.