Canada Protection Plan

Who is Canada Protection Plan

Canada Protection Plan was founded in 1992 in Toronto. Even if 1992 can seem young for an insurance company, CPP is bacled by Foresters Financial, one of the biggest player in the insurance industry of North America.

Their business has expanded in many ways over the years. They developed a suite of permanent No Medical products and in 2006, introduced several No Medical term life insurance options.

They also introduced their Call Centre and direct to consumer sales began in 2006. In 2008, Call Centre sales could be completed over the phone.

Today, CPP are proud to offer their customers a wide selection that makes it easier than ever to purchase No Medical & Simplified Issue Life and Critical Illness Insurance.

They stand by their mission which is to provide protection for those who may have difficulty obtaining life insurance coverage due to health issues as well as for those who are in good health.

The values of CPP


Canadian Protection Plan cares about their policyholders, distributors, employees and communities. They will make every effort to do the right thing for each of their constituents.


All Canada Protection Plan policies are underwritten by financially sound Canadian Life Insurance Companies and protected by Assuris, the organization that protects Canadian policyholders if their life insurance company should fail.

Community Focused

CPP believes that with success comes the obligation to give back to the communities. Canada Protection Plan is a generous contributor and involved with many charitable causes.


They always aim to offer competitive product options, features and rates.


Their rates are very competitive and often lower when compared to similar plans and benefits.

Who should consider buying life insurance with Canada Protection Plan?

Since Canada Protection Plan products don't require that you undergo any medical examination before getting insured, their products may appeal to people with health conditions, genetic diseases that runs in the family, alcohol, drug or tobacco addictions or even people who's job or hobbies are considered to be high-risk.

It could also suit your needs if you need to get insurance quickly without going through the hassle of the medical exams process.

Be aware that what you might save in time you will lose in money as this kind of insurance can be quite pricey.

How to apply | Canada Protection Plan

Canada Protection Plan will ask you to answer a few medical questions related to your health before being approved. The concept is pretty simple: the more questions you answer without responding "yes", the lower your price will be for the coverage you seek.

That doesn't mean you should omit any health issue and give incorrect answers. Just like any other insurer, false answers could make you uninsurable or complicate the process of an insurance claim.

Since Canada Protection Plan only has to review your questionnaire before approving you or not, their approval times are some of the best in the insurance industry. It could take as little as 48 hours for you to be approved!

Canada Protection Plan Life insurance products

Let’s see what Canada Protection Plan products might make the most sense for you!

Canada Protection Plan Guaranteed Acceptance Life

This product is aimed at people who cant’t qualify for other life insurance since it is the only life insurance that is guaranteed to be issued. No health exams. No medical questions. Nothing is required before you get insured.

This product is suitable for people who would normally not be insurable because of a health condition or any other particularity.

The Guaranteed Acceptance Life is not suitable for most people, since the maximum amount you can get insured for is 25,000$. Most people will find that getting a life insurance is useful only for coverage of a way bigger amount.

Also, be aware that there is a two-year period during which the beneficiaries will receive the amount paid for the premium as a refund. This means they won't receive the 25,000$ death benefit if your death occurs during the first two years of your insurance contract.

Canada Protection Plan Deferred Life

With a maximum amount you can be covered for is 75,000$, Canada Protection Plan's Deferred Life is a bit of a step up from the Guaranteed Acceptance Life insurance. Still, this product is aimed at people with health issues who would otherwise penalize them with most insurance companies.

Note that the two-year period during which your beneficiaries will only receive a refund of the premium paid until the date of the decease still applies with this product.

Canada Protection Plan Deferred Elite Life

Once again, Canada Protection Plan Deferred Elite Life is a step up from their previous coverage. The maximum amount you can be covered is raised to 350,000$. This product still is aimed at people with moderate health issues.

Note that the two-year period during which your beneficiaries will only receive a refund of the premium paid until the date of the decease still applies with this product.The step up is that in the case the death happens during the second year of your contract, half of your coverage will be paid as a death benefit.

Canada Protection Plan Simplified Elite

Canada Protection Plan Simplified Elite represents the insurer's favoured product and is the one that ressembles most insurance policy. This coverage is aimed at healthy consumers.

The premiums you will have to pay could be lower than a policy for which you would have to undergo medical exams and the maximum coverage you can get is $500,000.

The two-year period does not apply for this policy.

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