Founded in 2020, Walnut Insurance is the first company to offer life insurance membership plans that include subscriptions to various independent wellness products, such as Headspace. It's both a smart business move and an excellent way to supplement clients' health care needs.
The concept of life insurance as a premium membership is certainly unique, but it's an effective way to reach Walnut Insurance's target demographic: Gen Zs, Millennials, and young adults in general. Unfortunately, they only offer 10 and 20 year terms, and aren't available Canada-wide.
What you get with Walnut insurance
Here, take a look at all that Walnut Insurance has to offer.
Verified on September 15, 2025
Why You Want It
Get up to $1M in coverage in minutes + Premiums starting at $10 a month.
Special Features
- Get term life insurance from RBC Insurance with extra benefits
- Digital membership protects your electronic devices
- Membership includes access to products and services like Headspace, Dashlane, and ClassPass
Eligibility
- Ages 18 - 70
Provinces
AB, BC, MB, NL, NS, NT, NU, ON, PE, SK, YT
Features
Term Life Insurance
Terms Available
- 10 years
- 20 years
Permanent Life Insurance
Guaranteed Acceptance Life Insurance
Universal Life Insurance
Our rating for Walnut insurance: 0.9 stars
Walnut Insurance's 0.9 star rating can be a bit deceiving. It's true that the company's main focus is on a specific form of life insurance, which can be frustrating for those hoping to find multiple insurance products from the same company, but the extra features and perks can make up for this.
Essentially, the low-ish rating only shows that Walnut is hyper-focused on its main product – and this isn't necessarily a bad thing.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
What's good about Walnut insurance
Take a look at why we think Walnut Insurance is worth considering.
Pros
Subscription plans come with sweet perks
Walnut Insurance has come up with a new idea: a membership-based life insurance product that comes with side benefits. They understand that if there's anything millennials (their target demographic) love, it's perks. Headspace, ClassPass, and Dashlane offer mental health support, opportunities to improve physical health, and security for your personal information, respectively, and together they can cost at least $27 per month. Getting these included in a Walnut membership is a sweet perk at a sweet discount.
Digital protection is a unique and convenient option
Aside from life insurance, Walnut Insurance offers a Digital Protection membership that's as unique as their life insurance membership. Your identity, passwords, and financial assets are all being guarded against online scammers, hackers, and other dangers, plus you have round-the-clock access to Walnut's support helpline should you require it. Since they're an insurance company, it shouldn't be a surprise that you're covered for up to $1 million in stolen funds if you ever face an identity theft issue.
A fully online application process
The process of choosing an insurance policy is remarkably simple and convenient thanks to Walnut Insurance's online-only format. You always have the option of speaking with an agent via the online chat if you have questions, but otherwise, you can usually get a quote within 10 - 15 minutes of filling in your information. There's no medical exam either, which is both a relief and a convenience.
Transparent and surprisingly low pricing
Walnut Insurance uses a unique method of price-first plans instead of coverage-first, and its membership plans start at only $15 per month. It's refreshing to see this kind of transparency from an insurance company, and it can be a huge relief for potential customers, giving them the information and time they need to consider their options before taking the plunge with Walnut.
Flexible age requirements
Instead of having a hard age requirement for both the 10 year and 20 year term insurance, Walnut is a bit more flexible. The maximum age is actually 85 minus the term. So for a 10 year term, the maximum age is 75. For the 20 year term, it's 65.
What to watch out for with Walnut insurance
As with all things, there are some not-so-great aspects of Walnut Insurance too. Here's what we've noticed.
Cons
Not available in New Brunswick or Quebec
It's an unfortunate reality that there are lots of products and services that the rest of Canada enjoys but aren't available in Quebec, and this is one of them. The fact that it's also unavailable in New Brunswick makes it even more of a disappointment. Providing service to more citizens in more provinces is something that Walnut could potentially change in the future, but for now, it's a significant downside.
Only 2 term lengths available
With all the perks of Walnut Insurance, it's both surprising and disappointing that the only term options available are 10 and 20-year terms. Walnut's limited options pale in comparison to PolicyMe's 10, 15, 20, 25, and 30-year terms, and even TD Insurance's 10, 20, and 100-year (Lifetime) terms. This is certainly something they can improve on in the future, but for now, it's an important detail that may cause potential customers to look elsewhere.
Best alternatives to Walnut insurance
Here's an overall look at how Walnut Insurance compares with similar life insurance products.
 |  |  |  | |
|---|---|---|---|---|
| Account | Walnut | Policy Advisor Life Insurance | PolicyMe Life Insurance | Serenia Life Financial |
| Genius Rating | ||||
| Why You Want It | Get up to $1M in coverage in minutes + Premiums starting at $10 a month. | Get instant life insurance quotes from 30 top insurers + No brokerage fees. | Save up to 20% on your life insurance + Get Child Coverage at no extra cost. | 10, 20, 30, and 100-year term length options + Valuable member benefits. |
| Term Life Insurance | | | | |
| Terms Available |
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| Permanent Life Insurance | | | | |
| Guaranteed Acceptance Life Insurance | | | | |
| Universal Life Insurance | | | | |
| Get a quote See more Walnut products Compare | Get a quote See more Policy Advisor products Compare | Get a quote See more PolicyMe products Compare | Learn More See more Serenia Life Financial products Compare |
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Walnut insurance frequently asked questions
What is Walnut Insurance?
Walnut Insurance is a company that provides life insurance as a premium membership. They offer term life insurance as well as a unique Digital Protection insurance product, which keeps your identity, passwords, and financial assets safe. You can read more on what we like about Walnut here.
What are the Walnut life insurance details?
Life insurance through Walnut Insurance is membership-based, supported by RBC, comes with 2 term options, costs surprisingly little, and can be accessed through a fast and simple online application process. Coverage between $50,000 and $1 million is available. For more information on Walnut's details, you can check out the table we have right here.
Is Walnut Insurance all online?
Most of Walnut's processes and services are available online. Prospective clients can request a quote online and speak with representatives via the instant message features on the website. Then, once ready to take the plunge, the application process for new clients is also done online. Even the accompanying perks like Headspace and Dashlane subscriptions are online-based.
Does Walnut offer travel insurance?
While Walnut itself doesn't offer travel insurance, it does power the travel insurance platforms of some other companies, including Telus.
Does Walnut offer tenant insurance?
While Walnut itself doesn't offer tenant insurance, it does power the tenant insurance platforms of some other companies, like neo.
Does Walnut offer life insurance?
Yes, Walnut offers life insurance, with either 10 or 20 year terms. The life insurance subscription can come packaged with lifestyle apps like Headspace, Dashlane, and Classpass.
Does Walnut offer auto insurance?
While Walnut itself doesn't offer auto insurance, it does power the auto insurance platforms of some other companies.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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