iA Financial Group review

On the evidence, yes: iA Financial Group holds an A+ (Superior), ICR aa- financial-strength rating from AM Best (Sep 2025) — an independent agency’s verdict on its ability to pay claims. Also DBRS AA (low) — strongest of the second tier.

iA Financial Group stands out for flexible custom-length term. Highest strength in its tier (A+ Superior), and uniquely flexible Pick-A-Term (any length 10–40 yrs). If those things matter most to you, it’s worth a close look; if your priority is something else, compare it against the companies that rate highest on that pillar.

The watch-outs we found: advisor-centric with limited online direct; thin consumer self-serve experience. We spell these out so you can weigh them before buying — every insurer has trade-offs, and knowing them upfront is the point of a real review.

iA Financial Group ranks #4 of the 10 life insurance providers we scored, at 85.1/100. It’s strongest on financial strength and has the most room to improve on digital experience.

Your answers to a short health questionnaire decide it. The ladder runs Guaranteed Access at the base, then Deferred, Deferred Plus, and Immediate Plus at the top for the healthiest applicants in the pool. Guaranteed Access is exactly what it sounds like — acceptance regardless of your health condition. The tier matters beyond price: term options T15, T20 and T25 are available only on Deferred Plus and Immediate Plus, so lower tiers are steered toward the V100 permanent whole life option. Face amounts across the ladder run $10,000 to $500,000, issue ages six months to 80.

Often, yes — and this is the specific case where iA beats the market. Brokers route managed Type 2 diabetes, smokers, newcomers to Canada and older applicants to iA precisely because Access Life underwrites the risk directly instead of applying a surcharge to a standard contract. That said, do not assume it. Get your rated offer from the other insurer in writing, then have a broker quote both an Access Life tier and a standard Pick-A-Term application with full disclosure. Well-controlled diabetes sometimes still qualifies for standard rates, which would beat Access Life pricing.

You choose the number, not the product. Pick-A-Term lets you set any term length from 10 to 40 years, so a 23-year term to cover the rest of an amortisation is a real option rather than rounding up to 25 or down to 20. Coverage goes to $10,000,000, and it is renewable and convertible to permanent insurance before age 71. You can also select decreasing coverage, which drops annually to a floor of 50 percent of the original amount at a lower premium — sensible for a mortgage, wrong for family income replacement.

The tier names point at this and it is the question to ask your advisor before signing. 'Deferred' tiers in simplified-issue products across the Canadian market typically pay a limited benefit — often a return of premiums plus interest — if death occurs from natural causes in the first two years, with the full face amount payable after. 'Immediate' tiers pay the full amount from day one. iA's published material confirms the four-tier structure but not the specific deferral terms, so get the exact benefit schedule for your assigned tier in writing before the policy is issued.

The regulatory numbers say yes. iA carries an A+ rating from AM Best and reports a LICAT ratio of 139 percent — LICAT being OSFI's capital adequacy test for Canadian life insurers, where anything above 100 percent means capital exceeds the required level. iA is the fifth-largest life insurer in Canada and has operated since 1892. Consumer review scores are poor, but those measure service experience, not solvency. Canadian policyholders also have Assuris protection behind the insurer, which covers a substantial portion of a death benefit if a member company fails.