The way to get the least expensive life insurance rates is to deal with a life insurance broker such as InsureCan. An independent life insurance broker will shop a variety of companies to make sure you're getting the lowest possible rates.

If you do have a known medical condition that you expect to impact your rates, again a life insurance broker is the way to go. Providing a life insurance broker details about your condition can allow them to pre-shop life insurance companies to get preliminary offers. This pre-shopping can be done without the trouble of a full application or a medical exam. The insurance companies will review your details and provide a preliminary estimate as to what they might expect to offer you, subject to a full medical exam.

Once you have an idea of what life insurance companies are trending or likely to offer you the lowest rates for your medical condition, you can still apply to two or three companies simultaneously. Canadian life insurance companies will share medical information so you only need to take one medical exam. Once you have received firm offers from the various companies you can select the lowest offer and decline the others.