Term Life Insurance
Permanent Life Insurance
No Medical Life Insurance Canada
Critical Illness Insurance
Mortgage Life Insurance
Guaranteed Issue Life Insurance
The life insurance industry in Canada is increasingly becoming more competitive as each company is trying to find an edge on the next to attract consumers.
Canada Protection Plan is making a mark as one of the most popular options for no medical life insurance in Canada. No medical life insurance means that you do not have to get poked by a nurse, see a doctor or complete any physical exam. You only need to complete a questionnaire which is quite simple actually.
We have summarized the available plans from Canada Protection Plan. Depending on what you are looking for and your health, they have no medical and medical options available.
If you are interested in learning more about the life insurance offerings from Canada Protection Plan, please do not hesitate to reach out to us to see what products you qualify for or which products are right for you.
TERM LIFE INSURANCE PLANS
- Deferred Elite Term Life Insurance
- Simplified Elite Term Life Insurance
- Preferred Term Life Insurance
- Preferred Elite Term Life Insurance
PERMANENT LIFE INSURANCE PLANS
- Guaranteed Acceptance Life Insurance
- Deferred Life Insurance
- Deferred Elite Life Insurance
- Simplified Elite Life Insurance
- Preferred Life Insurance
- Preferred Elite Life Insurance
Deferred Elite Term Life Insurance (No Medical Required)
This product is designed for Canadians who are harder to insure. If you have had past or current medical issues and/or have had problems getting life insurance from a traditional life insurance company then you may want to consider Deferred Elite Term Life Insurance from Canada Protection Plan.
Please Note: The full coverage amount is payable to the beneficiary for all Deferred Elite Term Life Insurance plans if death occurs after two years (24 months) or if death is accidental. If death occurs in the secondy year and is due to non-accidental means, then 50% (half) of the coverage amount is payable. If death occurs in the first year (12 months) of the policy and is due to non-accidental means, the coverage amount is limited to a return of the premiums that have been paid plus 3% simple interest.
Product Types Available – 10 Year Term, 20 Year Term, 25 Year Term, 25 Year Decreasing Term
Maximum Coverage Amount – $350,000
Medical Exam Required – No
Simplified Elite Term Life Insurance (No Medical Required)
This product is designed for Canadians who are in good health, engage in high risk / extreme sports or involved with piloting certain aircraft. You can also qualify for this product if you have been declined for life insurance in the past. Getting approved for Simplified Elite Term Life Insurance is quick and easy with no medical required.
Please Note: The full coverage amount is payable to the beneficiary for all Simplified Elite Term Life Insurance plans from day one. Unlike other no medical plans offered, this product provides coverage from the day that the policy starts. Many no medical plans have a one or two year waiting period before the benefit amount is payable.
Product Types Available – 10 Year Term, 20 Year Term, 25 Year Term
Maximum Coverage Amount – $500,000
Medical Exam Required – No
Preferred Term Life Insurance
This product is designed for Canadians who are in good health, want coverage fast with competitive rates. You can qualify for up to $500,000 with no medical and up to $1,000,000 with medical underwriting.
Please Note: The full coverage amount is payable to the beneficiary for all Preferred Term Life Insurance plans from day one. Unlike other no medical plans offered, this product provides coverage from the day that the policy starts. Many no medical plans have a one or two year waiting period before the benefit amount is payable.
Product Types Available – 10 Year Term, 20 Year Term, 25 Year Term, 25 Year Decreasing Term
Maximum Coverage Amount – $500,000 with no medical and $1,000,000 with medical
Medical Exam Required – Yes & No
Preferred Elite Term Life Insurance
This product is designed for Canadians who are in very good health, want coverage fast with the best rates available from Canada Protection Plan. These policies are fully underwritten which means that a medical is required and full disclosure of health must be provided to Canada Protection Plan.
Please Note: The full coverage amount is payable to the beneficiary for all Preferred Elite Term Life Insurance plans from day one. Unlike other no medical plans offered, this product provides coverage from the day that the policy starts. Many no medical plans have a one or two year waiting period before the benefit amount is payable.
Product Types Available – 10 Year Term, 20 Year Term, 25 Year Term, 25 Year Decreasing Term
Maximum Coverage Amount – $1,000,000
Medical Exam Required – Yes
If you would like to learn more about Canada Protection Plan you can read this review. You can always reach out to one of our life insurance specialist to see which type of life insurance is right for you.
