Retirement changes what insurance you have, what you need and what it costs. This page explains what often changes and what to ask before your last day of work.
Group coverage through an employer (health, dental, life and disability) often ends at retirement, and some plans reduce at a certain age. Some employers offer a retiree plan, and some group life plans let you convert to a personal policy, usually within a short deadline. Ask your plan administrator what continues, what stops and by when you must decide.
Provincial plans cover many medical costs but not everything. Many provinces have prescription drug programs for people 65 and older, with rules and costs that vary. Dental, vision and some drugs may be your own cost unless you have a plan. Individual health and dental plans exist. Ask about waiting periods and any age or health requirements.
Some people look at whether they still need coverage, for example once the mortgage is paid and children are independent. Others look at it for final expenses or to leave a legacy. Term policies end or become more expensive at renewal, while permanent policies are designed to last. Check when your term ends, what renewal costs, whether you can convert to permanent before a deadline, and whether your beneficiaries are still right. Our life insurance page has the basics.
Disability coverage generally stops at a set age, often 65 or when you retire, and there are age limits for buying new critical illness coverage. Ask which limits apply to the policies you have.
Many retirees travel more, or spend winters away. Provincial plans cover only part of the cost of care outside the province, and often much less outside Canada. They also have rules about how long you can be away and still keep your coverage. Travel policies often limit trip length and ask about your health. See our travel insurance page.
Downsizing or moving to a condominium changes what you insure. Tell your insurer when you stop commuting or drive much less, because how you use a vehicle can affect an auto policy.
Care costs can be significant, and public funding varies by province. Some people look at private options such as long-term care insurance. Availability is limited and the rules vary, so ask what is covered and what is excluded.
Sometimes in a reduced form, and often not at all. Ask your plan administrator what continues, what ends and whether you can convert any of it to a personal policy, and by when.
The coverage ends, or you can sometimes renew it at a higher cost or convert it to a permanent policy. Check your policy for the dates and options well before the end.
Yes, but insurers consider age and health, which affect the cost and the conditions. Many policies limit trip length and require your health to be stable. Read the conditions carefully.
Disability coverage generally stops at a set age, often 65, or when you retire. Check the end date and the definition of disability in your policy.
Many provinces have drug programs for people 65 and older, but the coverage and any costs vary. Check your province's program and ask about private plans for what it does not cover.
General information, not advice or a recommendation. Rules differ by province and by insurer, so confirm with your insurer or a licensed advisor. This page was last checked in November 2026.