At what age can a person begin to apply for life insurance and have full control over their policy?

A person can typically begin to apply for life insurance and have full control over their policy at 18 years old. This age is significant because it is generally recognized as the age of majority in Canada, meaning that individuals are considered legal adults and can enter into binding contracts, including insurance policies, without the need for parental or guardian consent.

When a person is under 18, they may still apply for life insurance, but the policy would often require a parent or guardian to sign the application or manage the policy until the individual reaches adulthood. This legal framework is in place to protect minors from entering into contracts they may not fully understand. Therefore, the correct age for someone to independently apply for life insurance and manage their policy is 18 years old.