Canada Life drives change by expanding inclusive benefits and wealth products, reflecting its DEI commitment
In an article by Benefits and Pension Monitor, Canada Life’s 175-year history demonstrates that change is a challenging yet rewarding journey,
The company is committed to rethinking and reshaping its core offerings to align with the principles of diversity, equity, and inclusion (DEI), ensuring support for their customers, communities, and valued team members.
Recognizing that people’s needs are influenced by their backgrounds, life stage, experiences, identities, and personal beliefs, Canada Life is focused on developing tailored products and services to support the diverse needs of Canadians and their families.
Recent product launches, such as gender affirmation coverage and family-building benefits, reflect this commitment.
Statistics Canada reports that 1 in 300 Canadians aged 15 or older identify as transgender or non-binary, and Canada Life’s gender affirmation coverage aims to support these individuals in their journey to live authentically.
Canada Life’s family-building benefit addresses the various paths to family creation, including support for the one in six couples experiencing infertility, those preserving fertility, and same-sex couples starting a family.
Their wealth products are designed to meet members’ needs, whether focused on retirement savings or their children’s future wealth.
The company also offers access to specialty funds, like the BlackRock Islamic Global Equity Index Fund, providing Shariah-certified investment opportunities to support Muslim members' retirement savings.
Shelley Sjoberg, assistant vice president of product development and support at Canada Life, emphasized the importance of inclusive workplace benefits, “Workplace benefits are a really important way that employers can support inclusive and diverse workplaces.”
Looking forward, Canada Life aims to make workplace plans more relevant for members with diverse needs. They are enhancing support for women’s health, Indigenous members, and members with disabilities.
The company is also committed to expanding their fund offerings to help Canadians achieve various financial goals.
Canada Life believes that a strong spirit of curiosity, collaboration, and understanding is essential to future success, acknowledging that while change can be challenging, it is crucial to embrace it with open arms and an open mind.
