Canadian Life Settlements offers consumer access to funds held in their life insurance policies

Many Canadians purchase life insurance for reasons such as providing capital to replace income, or at the insistence of their financial institution to support a loan; both in the event of premature death. The reasons for retaining life insurance typically changes over a lifetime.  As such, the vast majority of life insurance policies lapse, and only a small portion of death benefits are ever paid by life insurers. Historically, policy-owners simply walked away from the premiums paid, receiving at best the Cash Surrender Value (“CSV”) if any exists, for their policies; often considerably less than the policy’s Fair Market Value. In Canada, as compared to most other developed countries there have been few services available to ascertain the Fair Market Value of life insurance policies and to provide solutions to this dilemma.

This is truly unfortunate, because for those who have owned policies for many years, there are financial strategies called Life Settlements and Life Advances that typically provide much more (average 300-500% higher) than the CSV offered by the issuing life insurer. Exploring life insurance liquidity options such as a Life Settlement as an alternative to lapsing a policy, is particularly important for seniors over age 70.

Paul Tyers, a chartered professional accountant (CPA) and certified financial planner (CFP®) recognized that Canadians’ life insurance policies are the policy-owner’s assets and like other assets they own, owners should be able to access their Fair Market Value, especially when these assets can provide income or capital for a better lifestyle while they are living. In 2015, Paul launched Canadian Life Settlements and has since provided millions of dollars to policyholders based on the Fair Market Value of their life insurance assets. (Please read some of the real life stories at

While Life Settlements and Life Advances are widely available in the U.S. where many Canadian snowbirds vacation and hear about these financial vehicle through companies such as Coventry Direct and Abacus Life Settlements, most Canadians are not aware of options for monetizing  their life insurance, largely due to provincial insurance regulations that favour life insurance companies over their policy-owners.  Quebec has chosen a more consumer friendly path for policy owners than other provinces which led to the re-location of Canadian Life Settlements to Montreal at the beginning of 2022.

Today, CLS is growing rapidly through its Quebec head office, led by software engineer Teodor Tomsecu. The company has established a Montreal Advisory Board that includes: Charles Kaufmann, Daniel Dorey, Yvon Lessard and Reford MacDougall C.M. Paul and Teodor believe that Canadian Life Settlements can play a role in establishing Montreal as an innovative financial hub for helping seniors throughout Canada to optimize the use of their life insurance assets for their needs, rather than placing their interests subservient to the life insurers who sold the policies.

Currently, life settlements (sale of a policy for immediate income, or to cover premium costs) are only permitted in Quebec due to other provinces insurance regulations as noted above. However, for all other provinces (Quebec included), CLS can offer a Life Advance (loan against the policy for immediate income).

Through a related limited partnership, accredited investors are also provided the opportunity to invest in a true Responsible Investment that is not correlated to traditional equity and bond markets, thus funding the needs of those monetizing their life insurance assets.

About Canadian Life Settlements

Canadian Life Settlements has been in operation since 2015 and has provided millions of dollars to Canadian policyholders based on the Fair Market Value of their life insurance policies. CLS consists of a group of Accountants, Actuaries and Lawyers who are dedicated to helping Canadian Seniors get the most out of their life insurance policies. Their combination of experienced industry professionals work together to help Canadian consumers achieve the best outcome when selling unneeded or unaffordable life insurance policies. CLS offers a variety of secondary market options including full or partial life settlements, as well as policy loans to qualified consumers.

To learn more or to connect with CLS, go to or call (866) 888-5456. Head Office: 4388 rue Saint-Denis Bureau 200, Montréal QC  H2J 2L1. 438-801-2611 or (866) 888-5456  email: [email protected]

Paul Tyers - Canada Life Settlements

Paul Tyers is the founder of Canadian Life Settlements and has a strong record of success in working with Canadian seniors, including 15 years as owner of the Retirement Council of Canada

Paul Tyers, FCPA, FCA, CFP, CIM

Paul Tyers is the Founder of Canadian Life Settlements and the Managing Director of Wealth Stewards Inc., and its registered Portfolio Management subsidiary Portfolio Stewards Inc.

Upon completion of a business degree at Wilfred Laurier University, Paul worked at Thorne Riddell (now KPMG). After receiving his Chartered Accountant (CA) designation, he worked in corporate finance with bank of Montreal and then with Corpfinance International, a boutique Mergers & Acquisition firm. With a venture capital partner, he purchased Retirement Council of Canada in 1987 and built up that business before selling it in 2002.

Paul has been the recipient of numerous financial awards, including winner of the 2017 & 2018 Global Financial Planning Awards. He is a Fellow Chartered Accountant (FCA), Certified Financial Planner (CFP), and Chartered Investment Manager (CIM), is the co-author of the Canadian best-seller Fiscal Fitness: A Guide to Personal Finance for All Stages of Life.