Canada Protection Plan Review

About Canada Protection Plan Insurance

The Canada Protection Plan was created in 1992 in Toronto. In 2020, Canada Protection was acquired by its underwriter, Foresters Financial - now the parent company. Since its inception, the Canada Protection Plan made its distinguished mark as the innovator of non-medical life insurance.

Still, until this day, Canada Protection has honed in on this niche, and has further expanded on being a leader in offering even more extensive options for non-medical life insurance that includes coverage for non-aggressive cancers, multiple sclerosis and coronary artery disease.

Canada Protection Plan Key Information

How Do I Purchase a Plan with Canada Protection Plan Insurance?

Visit the Canada Protection Plan directly here in order to get started on your policy plan.

How Can I Reach Canada Protection Plan Insurance by Telephone?

Contact 1-877-851-9090 to reach Canada Protection Plan by phone.

How Do I File a Claim with Canada Protection Plan Insurance?

You can email Canada Protection Plan at claims@cpp.ca in order to submit a claim. Alternatively, you can also contact the number provider to you in your claims policy and get started there.

Canada Protection Plan Insurance Pros and Cons

As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages. Let’s take a look:

Why Canada Protection Plan Could Be Right for You

• User friendly website and most accommodating in comparison to other insurance sites 
• Competitive prices 
• Straight forward application process

Why Canada Protection Plan May Not Be Right for You

• Limited underwriters - may not be suitable if you have pre-existing medical conditions 
• Long wait times and limited options with customer service
• Not as many insurance varieties as other companies

What Does Canada Protection Plan Insurance Cover?

Canada Protection Plan offers a diverse range of life insurance products designed to meet various needs. From simplified issue plans to traditional term and permanent options, their offerings cater to different circumstances and preferences. These plans provide financial security and peace of mind, ensuring that individuals and families can find the right coverage to protect their loved ones' future.

Guaranteed Acceptance Life Insurance Plan

Canada Protect Plan is designed to insure even the most challenging applicants. Your medical condition does not matter with the Guaranteed Acceptance Life Plan. This plan from Canada Protection Plan comes with a terminal illness benefit, and a transportation benefit, with the option to add on an accidental death benefit, if you find it suits fit.

The Deferred Life Insurance Plan

Canada Protection Plan is there to insure even the most difficult of applicants with pre-existing medical conditions, even those with heart conditions, cancer and diabetes. Premium won’t change during the entire duration of the policy, and your coverage amount will never decrease at any point either. A transportation benefit and a terminal illness benefit come included in this plan, and there are of course the options to add on.

The Preferred Life Insurance Plan

Canada Protection Plan is designed for applicants who are in good health. With this plan, you’ll get protected life insurance for up to $1,000,000. If you’re older than 70 years of age, you are eligible for up to $500,000. The plan includes a terminal illness benefit and a transportation benefit, there are options to top off this plan as well.

Deferred Elite Term Life Insurance Plan

Canada Protection Plan provides permanent life insurance for the most difficult of applicants with slightly less-serious pre-existing medical conditions such as heart conditions, cancer and diabetes. Your premium plan is guaranteed and your coverage amount will never decrease. This plan includes a transportation benefit and a terminal illness benefit, and also includes the option to top-up your policy with additional benefits.

Preferred Elite Life Insurance Plan

The Preferred Elite Life Insurance Plan is designed to cover applicants who are in seemingly excellent health. Coverage with this plan is approved quickly. The Preferred Elite Life Insurance is fully underwritten by Manulife Insurance for your added protection. You are eligible to receive up to $1,000,000 in coverage, should you need it. The plan comes with a transportation benefit, and a terminal illness benefit, and of course, as with all other plans here, you get to top-up with additional benefits should you need them.

Simplified Elite Life Insurance Plan

The Simplified Elite Life Insurance Plan is there to protect applicants who are in seemingly good health. Coverage with the Simplified Elite Life Insurance plan is noted for taking effect quickly, for when you need it most. You get coverage for up to $500,000. Like all the other life insurance plans at Canada Protection Plan, the Simplified Elite Life Insurance plan comes with a transportation benefit, and a terminal illness benefit, and comes with the options to top-up your policy plan with additional benefits.