Finance · Providers · Beneva
🤝 Sponsor Partner

Beneva —
Policyholders first.

Canada's largest mutual insurer puts your interests ahead of shareholders. Here's what Rico can offer you through Beneva — and why the mutual difference matters.

Rico is a Financial Associate with Experior Financial Group — not a certified Financial Advisor

About Beneva

Canada's largest mutual insurer. Your interests, not shareholders'.

Beneva was formed in 2020 from the merger of La Capitale and SSQ Insurance — two of Quebec's most respected insurers with roots going back to 1940. Together, they created Canada's largest mutual insurance company, serving over 3.5 million members across the country.

As a mutual insurer, Beneva has no shareholders to answer to. That means every decision — from claims handling to product pricing — is made with policyholders in mind. Surplus profits are returned to members, not distributed to investors on Bay Street.

Beneva has deep expertise in group insurance and individual disability products, making them a strong choice for business owners, self-employed professionals, and anyone who wants robust disability coverage with a company that has a long track record of paying claims.

Rico works with Beneva as part of his Experior Financial Group toolkit — and as a sponsor partner, Beneva's commitment to their advisors and clients runs deep.

Beneva Insurance logo
Visit beneva.ca →
1940
Roots tracing back to
3.5M+
Members served
#1
Largest mutual insurer in Canada
0
Shareholders — 100% policyholder-owned

Products Available Through Rico

What Beneva offers — and what it means for you

Click any product to learn more.

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Term Life Insurance +

Straightforward protection for when your family needs it most — from a company that's been paying claims since 1940.

Beneva's term life products offer competitive pricing with the peace of mind that comes from a company owned by its policyholders. No shareholder pressure to deny claims.

  • 10, 20, and 30-year term options
  • Renewable and convertible to permanent coverage
  • Competitive rates for healthy applicants
  • Ideal for: families, mortgage protection, income replacement
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Disability Insurance +

One of Beneva's strongest products — robust income replacement if illness or injury takes you out of work.

Beneva's roots are in disability coverage. Their individual disability products are comprehensive, with strong own-occupation definitions and flexible benefit periods — important for professionals and the self-employed.

  • Own-occupation definition available for professionals
  • Benefit periods to age 65
  • Waiver of premium while on claim
  • Cost of living adjustments available
  • Ideal for: self-employed, business owners, professionals without strong group coverage
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Critical Illness +

A tax-free lump sum on diagnosis of cancer, heart attack, stroke and 25+ other conditions.

Beneva's critical illness coverage pays a tax-free benefit when you're diagnosed with a covered condition. Use the money however you need — medical treatment, time off work, or family support.

  • 26+ covered conditions
  • Return-of-premium option available
  • Benefit paid 30 days after diagnosis (survival period)
  • Available as standalone policy or rider
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Group Benefits +

Comprehensive benefits packages for businesses — Beneva is one of Canada's leading group insurance providers.

Beneva is particularly strong in group insurance. If you own a business or manage a team, Rico can explore group benefit plans that cover your employees for health, dental, disability, and life insurance.

  • Group life, health, dental, and disability
  • Scalable for small to large organizations
  • Employee wellness programs
  • Ideal for: small business owners, corporations, associations
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Permanent Life Insurance +

Lifelong coverage that builds cash value — backed by a mutual company with no shareholder conflicts.

Beneva's permanent life products offer whole life and universal life options for clients who want lifelong coverage with a savings component. As a mutual company, their participating policies can earn dividends.

  • Whole life with participating dividends
  • Universal life with investment flexibility
  • Cash value grows tax-sheltered
  • Ideal for: estate planning, business succession, long-term wealth transfer
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Living Benefits +

Add-on riders that protect you while you're still alive — disability waivers, accidental death, and more.

Beneva offers a range of living benefits riders that can be added to base policies for enhanced protection during your lifetime.

  • Waiver of premium on disability
  • Accidental death & dismemberment
  • Child protection riders
  • Guaranteed insurability options — lock in future coverage regardless of health

The Mutual Difference

No shareholders. No conflicts. Just your interests.

Most insurance companies are publicly traded — they answer to shareholders and investors. Every quarter, they're measured on profits. That creates a natural tension between shareholder returns and policyholder experience.

Beneva is different. As a mutual insurer, the policyholders ARE the owners. There are no shareholders to satisfy, no quarterly earnings calls to worry about. Decisions are made with members in mind.

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Policyholder Ownership

You're not just a customer — as a Beneva policyholder, you're a member and part-owner of the company.

💰

Surplus Returned to Members

Profits don't go to Bay Street investors. Surplus is returned to policyholders through dividends and improved products.

⚖️

Claims Paid Without Conflict

When there's no shareholder pressure to protect profits, claims decisions are made on merit — the way insurance was meant to work.

🌱

Long-Term Thinking

Mutual companies aren't chasing quarterly targets. They're built to last generations — which is exactly what you want from an insurer.

Want to see if Beneva is the right fit for your situation?

Rico can compare Beneva's products against other providers and help you understand whether the mutual structure makes a difference for your specific needs. Free conversation, no obligation.

💬 Ask Rico About Beneva

Common Questions

Things people ask about Beneva

Is Beneva available outside Quebec?+
Yes. While Beneva has deep roots in Quebec, they operate nationally and provide coverage across Canada, including BC. Rico can access their products for eligible clients in the Okanagan and throughout British Columbia.
How is Beneva different from other insurers?+
The biggest difference is the mutual structure. Most insurers are publicly traded and answer to shareholders. Beneva is owned by its policyholders — so profits are returned to members, and there's no conflict between shareholder returns and claims payouts.
Is Beneva good for disability coverage?+
Beneva has a strong track record in disability insurance, rooted in SSQ Insurance's legacy of robust group and individual disability products. For self-employed professionals and business owners, their personal disability policies are worth comparing. Rico will pull quotes from multiple providers to find the best fit.
Does Rico only recommend Beneva?+
No. Rico works with multiple providers through Experior Financial Group — Manulife, Canada Life, Equitable Life, Empire Life, Beneva, and others. He recommends based on your specific situation, not company preference. Beneva is a sponsor partner, but that doesn't bias the recommendation — it just means Rico has strong support and access when placing Beneva products.
Can a small business get group benefits through Beneva?+
Yes. Beneva offers group benefit plans for businesses of various sizes, including small employers. A group benefits plan can help attract and retain employees while providing tax advantages. Rico can walk you through what makes sense for your team size and budget.
How do I get started with a Beneva policy?+
Start with a free conversation with Rico. He'll do a needs analysis, compare products across providers, and if Beneva is the right fit, guide you through the application. Most individual policies involve a short health questionnaire — Rico handles the paperwork and the process.

Other Providers Rico Works With

Manulife Canada's largest insurer Canada Life Whole life & IBC specialist Equitable Life Mutual company, strong CI Empire Life Competitive term & ROP CI

Talk to Rico

See if Beneva is the right fit for your situation.

Free consultation. No pressure. Rico will compare options across all providers and find what makes sense for your life and your budget.

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