Fact CheckedOkay, so what is Canada Protection Plan (CPP)? It sounds like a government program, but it’s not! You haven’t been watching TV if you’ve never heard of them.
Canada Protection Plan is a mid-sized company operating in the Canadian life insurance market. But just because it is mid-sized doesn’t mean it doesn’t punch above its weight.
Also known as Plan de Protection du Canada in Quebec, CPP is the country’s best-known simplified-issue, no-medical life insurance carrier.
Look at Canada Protection Plan Reviews to help you decide if they are a fit for you.
Psst! As an aside, they are NOT to be confused with the Canada Pension Plan!
Canada Protection Plan Reviews: Pros
1. No Fluids, No Vitals, No Paperwork & No Headaches!
2. More Lenient for Higher-Risk Conditions than Traditional Life Insurance Companies
If you have Multiple Sclerosis or have had Diabetes, Heart trouble, or Cancer, you may qualify for Canada Protection Plan’s most affordable coverage.
3. EASY and FAST Application Process...Quick Approvals Are the Norm!
Hey, your time is valuable! Who wants to wait around, especially when there’s no health exam or any forms to fill out?
You can complete a Canada Protection Plan application over the phone in as little as 20 minutes! It’s also not unusual for your life insurance to be approved and in force within 48 hours of completing an application.
4. Competitive Rates!
Plan Protection Canada is more economical than other Simplified Issue life insurance companies.
This is especially true if you’re seeking an affordable funeral insurance policy!
5. CPP Life Insurance Offers High Maximum Coverage Amounts
Within the simplified issue term life insurance niche, the Canada Protection Plan has the highest maximum coverage amounts: $25,000 – $750,000
6. First Carrier to Offer 30-Year Term, No-Medical Life Insurance
Canada Protection Plan offers Term 10, 20, 25 & 30-year policies – the most extended term offered by any Simplified-Issue Carrier in Canada!
7. High Percentage of Claims Paid OutAdd Your Heading Text Here
Canada Protection Plan pays out 98% of its claims! This is pretty standard among the top life insurance companies.
8. 2020 Merger with Foresters Financial Means Access to Foresters Member Benefits and More Products!
Because Foresters Canada underwrites Canada Protection Plan life insurance, their member benefits are available to all policyholders:
- NEW – LawAssure – create custom wills, power of attorneys, and healthcare directives
- Competitive Scholarships – up to $8,000 for children AND grandchildren
- Terminal Illness benefits – up to $250,000 for insured
- Orphan scholarships – up to $24,000 for children
- Orphan benefits – up to $900 monthly for children until age 18
- Everyday money – financial counseling
- Well-being benefits
- Community Grants – up to $2,000 to run your events
9. Widest Range of No Medical Life Insurance Products in Canada
With the addition of its new suite of no-medical critical illness products, Canada Protection Plan has cemented itself as the premier carrier in the simplified issue life insurance market.
Canada Protection Plan Reviews: Cons
1. No Medical Life Insurance Is More Expensive
If you’re healthy, Canada Protection Plan’s simplified issue term life insurance is more expensive than medically underwritten coverage from traditional insurers. No medical life insurance companies mitigate risk by charging more in premiums.
The most affordable insurance is always medically underwritten if you have no health issues.
2. Canada Protection Plan Does Not Have a Long History
Some of Canada’s best-known life insurance companies have been around for more than a century, while CPP has only been around since 1992.
3. Canada Protection Plan Eligibility Changes
In late 2022, CPP changed eligibility requirements, making it more difficult for some consumers to qualify for its most affordable coverage.
Canada Protection Plan Rates: No Medical Term
****Remember, this is no medical term life insurance for folks with mild to moderate health issues. As such, the rates are higher than those of traditional carriers. Updated July 2024.
Age | $250,000 | $500,000 |
|---|---|---|
| 35 Year Old Male | $45.68 | $85.95 |
| 35 Year Old Female | $31.05 | $56.70 |
| 40 Year Old Male | $47.48 | $89.55 |
| 40 Year Old Female | $40.05 | $74.70 |
| 45 Year Old Male | $69.08 | $132.75 |
| 45 Year Old Female | $53.33 | $101.25 |
| 50 Year Old Male | $119.25 | $233.10 |
| 50 Year Old Female | $85.05 | $164.70 |
| 55 Year Old Male | $193.05 | $380.70 |
| 55 Year Old Female | $133.43 | $261.45 |
| 60 Year Old Male | $319.95 | $634.50 |
| 60 Year Old Female | $211.95 | $418.50 |
| 65 Year Old Male | NA | NA |
| 65 Year Old Female | NA | NA |
*Quotes above are for CPP Simplified Elite Term 20, monthly, non-smoker. Your rates may differ depending on your unique circumstances.
Is Canada Protection Plan Legitimate?
If you’re looking through Canada Protection Plan Reviews, I bet you want some history!
When Canada Protection Plan entered the market in 1992, it provided the only Non-Medical Life Insurance product. Now, it offers a wide range of Simplified and Guaranteed-Issue policies.
CPP insurance plans are best suited for harder-to-insure individuals, such as the elderly or those considered
They’re also ideal for healthy consumers who are in a hurry and want to secure coverage fast!
If you’ve ever seen a Canada Protection Plan life insurance commercial, you know one of their big markets is simplified-issue term life insurance for senior citizens.
Canada Protection Plan Financial Rating
Canada Protection Plan Insurance is a privately owned corporation based in Toronto.
This business is about 35 years old, which gives it a “newbie” status in life insurance circles. CPP has grown substantially in the last ten years and employs approximately 200 people.
If you’re concerned about this company’s longevity, don’t be! In 2020, Foresters Financial, a North American Insurance Industry giant, merged with Canada Protection Plan, making it Canada’s largest simplified issue carrier. Foresters has over $14 billion in assets and has been in business for over 145 years.
Foresters maintains an A.M. Best financial strength rating of A (Excellent)…
..and the good news doesn’t stop there! Canada Protection Plan is accredited by the Better Business Bureau.
Now we’re talking!
The bottom line is you can sleep well at night knowing your family is protected with the Canada Protection Plan.
Canada Protection Plan Insurance Products
I enjoy perusing the products, so here goes!
Canada Protection Plan is known primarily for its simplified issue, which means no medical life insurance plans.
…but they also sell:
- Critical Illness
- Health & Dental
- and Travel Insurance
This company uses many different names for its plans, which can be confusing, but don’t let that scare you off! Canada Protection Plan coverage options are pretty straightforward! They offer Term, Permanent, and Critical Illness coverage.
Let’s check out their selection now!
Term Coverage
Term life insurance is hands down the best option for people 90% of the time. It’s the most affordable coverage for those looking to protect their income and mortgage.
This protection is usually purchased for 10, 20, or 30 years.
For example, if you have a family with young children, you may want to secure a 20 or 30-year term. This protects your loved ones during their most vulnerable periods.
Your monthly cost is guaranteed to never go up over the term of coverage. When the term ends, your coverage expires. That means if you purchase a 20-year term policy for $80 per month, that cost is locked in for 20 years, guaranteed.
1. Express Elite Term
Canada Protection Plan’s Express Elite Term is a relatively new product. It’s designed for consumers in excellent health who want term coverage issued fast! This is an accelerated issue product rather than traditional no-medical life insurance.
The good news is that the application process is quick. It’s typically completed in as little as 30 minutes, and a policy is issued within 72 hours.
But that’s not all. CPP also claims to have the best rates for simplified issue term life insurance, up to $750,000!
NOTE* Eligibility for CPP Express Elite requires that you have no health conditions whatsoever
2. CPP Express Elite Term Insurance:
Available as Express Elite Term 20 (ages 18–60) or Express Elite Term 30 (ages 18–50). Canada Protection Plan
For healthy individuals approved with no medical exams.
Coverage starts immediately (no waiting period).
Renewable to age 80 without evidence of insurability.
Convertible to a permanent policy up to age 70.
Coverage amounts:
• Ages 18–50: $100,000 – $750,000.
• Ages 51–60: $100,000 – $500,000.Optional riders include Child Term Benefit, Accidental Death Benefit, Hospital Cash, and Critical Illness.
4. Deferred Elite Term Insurance
- Designed for individuals with moderate to serious health issues
- Available as term 10, 20, 25 & 25 years decreasing
- Coverage amounts $25,000 – $350,000
- Graded benefit period: There is a reduced payout if death occurs in the first two years of the policy. Client receives return of premiums plus interest or 50% in year two. The full amount is payable after two years or for accidental death.
* All Term plans have a Conversion option, which means it’s exchangeable for an eligible permanent plan of the same underwriting class without providing medical evidence up to your 70th birthday
Permanent Life Insurance:
1. CPP Preferred Elite Life & Preferred Life
- Intended for applicants in good overall health who do not have significant underwriting concerns
- Applications are fully underwritten and may include medical exams or medical evidence, depending on age and coverage amount
- Available to adults between the ages of 18 and 80
- Coverage options range from moderate to high face amounts, with standard Preferred Life starting at lower minimums and Preferred Elite Life reserved for higher coverage needs, up to $1,000,000
2. CPP Simplified Elite Life
- Built for people in generally good health who want a more straightforward application process
- Available to adults ages 18 through 80
- Coverage amounts range from smaller policies to mid-level protection, up to $500,000
- Coverage begins right away with no waiting period for non-accidental death
3. CPP Deferred Elite Life
- Intended for applicants with existing health conditions who may not qualify for simplified or fully underwritten plans
- Open to individuals between the ages of 18 and 80
- Coverage amounts available up to $350,000
- Includes a graded benefit period: in the first year, non-accidental death results in a return of premiums; in the second year, 50% of the benefit is paid; full benefits apply after two years or for accidental death
4. CPP Deferred Life
- Designed for people with more serious or multiple health concerns
- Available to adults ages 18 to 80
- Coverage focuses on smaller, more affordable benefit amounts, up to $75,000
- A two-year waiting period applies for non-accidental death
5. CPP Guaranteed Acceptance Life
This plan is designed for people with serious or life-threatening health conditions who may not qualify for other types of coverage. Approval is guaranteed based solely on age.
- Available to adults ages 18 to 75
- Coverage amounts range from $5,000 to $50,000
- Permanent life insurance with no medical exams or health questions
This option can be a helpful safety net for covering final expenses or a small debt, especially if you’ve recently experienced a major health event or received a serious diagnosis.
There are important trade-offs to understand. Coverage is limited, and a two-year waiting period applies for non-accidental death. If death occurs during the first two policy years, beneficiaries receive a refund of premiums rather than the full benefit. Full coverage applies after two years or in the case of accidental death.
Guaranteed Acceptance Life is the most expensive form of life insurance because it offers no medical screening. Some insurers also provide graded versions with rising premiums over time, which can become difficult to maintain. Level-premium options are often more stable when available.
This coverage works best as a last resort when other plans aren’t available.
CPP No-Medical Critical Illness Insurance
Canada Protection Plan introduced its no-medical critical illness options in 2020 to make coverage more accessible for Canadians who may not qualify for traditional CI policies. These plans are underwritten by Foresters and require no medical exams, needles, or lab testing.
Instead of covering dozens of conditions, CPP focuses on the illnesses that account for most critical illness claims in Canada… primarily heart-related events and cancer. Eight core conditions make up the majority of CI payouts:
- Heart attack
- Stroke
- Coronary artery bypass surgery
- Heart valve repair or replacement
- Aortic surgery
- Cancer
- Aplastic anemia
- Benign brain tumour
Coverage is offered using an à-la-carte structure. Cardiac and cancer protection are separated, allowing people with a history of one condition to still apply for coverage in the other category. In some cases, plans can pay out twice. Once for a qualifying cardiac event and once for cancer, if both occur at different times.
This approach differs from many traditional CI policies, which bundle multiple conditions and may deny coverage entirely if an applicant has a prior diagnosis.
CPP’s structure allows applicants to choose and pay for only the coverage they can actually use.
What Critical Illness Insurance Does
Critical illness insurance pays a one-time, tax-free lump sum after the diagnosis of a covered condition, based on the policy’s definitions. The benefit can be used however you choose, to replace income, cover medical costs, or reduce financial stress during recovery.
CI coverage can be valuable, but it’s not one-size-fits-all. Understanding how benefits, eligibility, and definitions work is key before applying.
Other No Medical Life Insurance Companies in Canada
While Canada Protection Plan is the most widely recognized provider in the no-medical and simplified issue space, it isn’t the only option available to Canadians.
Several other insurers also offer no-medical or reduced-medical life insurance products, typically alongside their traditional fully underwritten policies. These include Assumption Life, Industrial Alliance, Humania Assurance, Specialty Life, Beneva (formerly SSQ), and Wawanesa Life.
These carriers don’t all specialize exclusively in no-medical insurance the way CPP does, but many offer simplified issue or guaranteed acceptance options for applicants who may not qualify for traditional coverage.
Availability, underwriting rules, and product design vary by insurer, which is why understanding how each plan works, and who it’s designed for, matters more than the company name alone.
Canada Protection Plan Underwriting
Most Canada Protection Plan life insurance products use simplified issue underwriting, meaning no medical exams, bloodwork, or physical tests are required for approval.
Because underwriting is based on health questions rather than medical testing, decisions are often made quickly — many applications are approved within a few days.
CPP also supports independent advisors by allowing direct communication with underwriters when eligibility questions arise, helping clarify borderline cases before an application moves forward.
As CPP leadership has noted, modern simplified issue underwriting has evolved well beyond traditional rate books. Today’s non-medical pricing relies entirely on detailed health disclosures, allowing insurers to assess risk more efficiently while expanding access to coverage.
Simplified Issue Products Are Miles Ahead Of The Rate Books Used 20 Years Ago. This Evolution Has Pushed The Limits Of Acceptance...Simplified Issue Term Life Insurance Has Ushered In A New Technique: Nonmedical Pricing. It Is Based Entirely On Questions
Canada Protection Plan & Diabetes
Canadians with diabetes can still qualify for life insurance… and Canada Protection Plan is often a strong option when traditional insurers apply higher ratings or stricter underwriting.
CPP offers multiple product types that may remain available even when standard policies aren’t, depending on how diabetes is managed and whether complications are present. While approval isn’t guaranteed, many applicants who face challenges with traditional carriers are still able to secure coverage through CPP’s simplified or no-medical options.
The key is matching the right product to the individual’s health profile, rather than assuming diabetes alone determines eligibility.
Canada Protection Plan Application Process
A Canada Protection Plan application does not require medical exams, bloodwork, or lab tests for its simplified and no-medical products.
Instead, eligibility is determined through a detailed health questionnaire. Applicants are typically asked around 40–45 medical and lifestyle questions, depending on the product and coverage amount.
In general, the more health information an applicant can provide — and the fewer risk factors disclosed — the more affordable the coverage tends to be.
Like most insurers today, Canada Protection Plan uses an electronic application system. Applications can be completed efficiently over the phone, and remote submissions are finalized using a secure electronic signature sent by email or text.
Canada Protection Plan Application Questions
While questions vary by product, applicants can expect to answer detailed yes-or-no questions covering areas such as:
- Current living situation, including nursing home residency or mobility limitations
- Recent hospitalizations or extended medical stays
- History of heart disease, stroke, or chronic lung conditions, particularly for applicants over age 55
- Diabetes treatment history, including insulin use and recent dosage changes
- Past cancer diagnoses or investigations (with limited exceptions)
- Unexplained or unintentional weight loss
- Recent diagnoses or investigations related to neurological conditions
These questions allow Canada Protection Plan to assess risk without medical testing and determine which coverage options may be available.
Is Canada Protection Plan Right for YOU?
If you are sifting through Canada Protection Plan Reviews, you’re probably wondering if they have the right plan for you.
Remember, CPP is synonymous with no medical life insurance in Canada.
This coverage is ideal if you have serious health or insurability issues.
….or….if you’re healthy and in a rush to get affordable coverage.
You should consider CPP Life Insurance if you:
- Have moderate or severe health issues
- Partake in Xtreme sports
- Work a dangerous occupation
- You’re afraid of needles and fluids
- Have a visitor or non-resident status in Canada
- You’re looking for a small policy to take care of your final expenses
- Received a Travel Exclusion with your traditional coverage
- Have no health issues and want life insurance FAST!
Call Policy Architects today! We can help you figure out whether you qualify for one of these plans and get an application started!
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