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Permanent Plans


Why Choose Canada Protection Plan For Permanent No Medical & Simplified Issue Life Insurance

  • Six different Life plans – Guaranteed Acceptance Life, Deferred Life, Deferred Elite Life, Simplified Elite Life, Preferred Life and Preferred Elite Life – ensure that we have the right plan for each of your client’s permanent insurance needs
  • Many of our plans offer immediate protection
  • T100 is available on Deferred Elite, Simplified Elite, Preferred and Preferred Elite
  • Up to $1,000,000 in permanent life insurance protection is available depending on age and plan your client qualifies for
  • Competitive rates
  • A variety of valuable Foresters Financial member benefits are available on many of our policies. (more…)
  • Flexible process – our simple application form has clearly worded medical terminology – no long health declarations that leave your client wondering if they are really covered
  • In 2017, Canada Protection Plan™ paid out 98% of non-contestable claims
  • You can speak directly to our underwriters and they will be happy to answer any questions
  • The application process on our no medical plans will result in your client’s policy being issued quickly, usually within a few days
  • We take great pride in providing superior customer service at issue and after issue

Canada Protection Plan’s Permanent Insurance Portfolio Consists Of 6 Distinct Plans:

GUARANTEED ACCEPTANCE LIFE INSURANCE

Guaranteed Acceptance Life is our guaranteed issue plan. Your client will not be denied coverage.
T100 available
No
Issue ages
18-75
Face amounts
Ages 18-60: $10,000-$25,000
Ages 61-75: $5,000-$25,000
Premium payment options
Life Pay only
Premium limitations
Minimum annual premium $150.00 / Minimum monthly PAC premium $15.00
Death limitations(in addition to typical suicide and misrepresentation clauses)
The full coverage amount is payable if death occurs after two years or death is accidental. If death occurs in the first two years and is due to non-accidental means, then the death benefit is limited to a return of premiums paid.
Guarantees
Premiums guaranteed not to change for the life of the policy
Included guaranteed benefits and features
  • Guaranteed cash values after the 5th policy year
  • Automatic Premium Loan provision
  • Terminal Illness Benefit
  • Transportation Benefit
Optional additional benefits
  • Accidental Death Benefit
Dividend Options
None

DEFERRED LIFE INSURANCE

Deferred Life is designed to meet the insurance needs of those with serious health conditions. Even if your client has been previously declined, they may be eligible.
T100 available
No
Issue ages
18-80
Face amounts
Ages 18-60: $10,000-$75,000
Ages 61-80: $5,000-$50,000
Premium payment options
Life Pay only
Premium limitations
Minimum annual premium $150.00 / Minimum monthly PAC premium $15.00
Death limitations(in addition to typical suicide and misrepresentation clauses)
The full coverage amount is payable if death occurs after two years or death is accidental. If death occurs in the first two years and is due to non-accidental means, then the death benefit is limited to a return of premiums paid plus 3% simple interest.
Guarantees
Premiums guaranteed not to change for the life of the policy
Included guaranteed benefits and features
  • Guaranteed cash values after the 5th policy year
  • Automatic Premium Loan provision
  • Terminal Illness Benefit
  • Transportation Benefit
Optional additional benefits
  • Accidental Death Benefit
Dividend Options
None

DEFERRED ELITE LIFE INSURANCE

Deferred Elite Life is designed for applicants with less serious health conditions. Even if your client has been previously declined, they may be eligible.
T100 available
Yes (Life Pay only)
Issue ages
18-80
Face amounts(T100 minimum is $25,000)
Ages 18-60: $10,000-$350,000
Ages 61-80: $5,000-$350,000
Premium payment options
Life Pay or 20 Pay
Premium limitations
Minimum annual premium $150.00 / Minimum monthly PAC premium $15.00
Death limitations(in addition to typical suicide and misrepresentation clauses)
The full coverage amount is payable if death occurs after two years or death is accidental. If death occurs in the second year and is due to non-accidental means, the death benefit is 50% of the coverage amount. If death occurs in the first year and is due to non-accidental means, then the death benefit is limited to a return of premiums paid plus 3% simple interest.
Guarantees
Premiums guaranteed not to change for the life of the policy
Included guaranteed benefits and features
  • Guaranteed cash values after the 5th policy year
  • Automatic Premium Loan provision
  • Terminal Illness Benefit
  • Transportation Benefit

  • (Guaranteed cash values not available on T100)
Optional additional benefits
  • Up to 2 Term riders
  • Accidental Death Benefit
  • Child Term Benefit
Dividend Options
None

SIMPLIFIED ELITE LIFE INSURANCE

Simplified Elite Life is one of the few no medical plans available which provides immediate coverage. This plan is designed for applicants who are in relatively good health, or engage in extreme sports, or for those who do not want to take a medical exam or provide a doctor’s report.
T100 available
Yes (Life Pay only)
Issue ages
18-80
Face amounts(T100 minimum is $25,000)
Ages 18-60: $10,000-$500,000
Ages 61-80: $5,000-$350,000
Premium payment options
Life Pay or 20 Pay
Premium limitations
Minimum annual premium $150.00 / Minimum monthly PAC premium $15.00
Death limitations(in addition to typical suicide and misrepresentation clauses)
No limitations



Guarantees
Premiums guaranteed not to change for the life of the policy
Included guaranteed benefits and features
  • Guaranteed cash values after the 5th policy year
  • Automatic Premium Loan provision
  • Terminal Illness Benefit
  • Transportation Benefit

  • (Guaranteed cash values not available on T100)
Optional additional benefits
  • Up to 2 Term riders
  • Accidental Death Benefit
  • Child Term Benefit
  • Hospital Cash Benefit
Dividend Options
None

PREFERRED LIFE INSURANCE

Preferred Life offers great premium rates and coverages up to $1,000,000 for healthy individuals who are willing to accept a little more underwriting. No Medical required for up to $500,000 and issue age up to 70. Coverage starts immediately.
T100 available
Yes (Life Pay only)
Issue ages
18-80
Face amounts
Ages 18-80: $50,000-$1,000,000
Premium payment options
Life Pay or 20 Pay
Premium limitations
Minimum annual premium $150.00 / Minimum monthly PAC premium $15.00
Death limitations(in addition to typical suicide and misrepresentation clauses)
No limitations



Guarantees
Premiums guaranteed not to change for the life of the policy
Included guaranteed benefits and features
  • Guaranteed cash values after the 5th policy year
  • Automatic Premium Loan provision
  • Terminal Illness Benefit
  • Transportation Benefit

  • (Guaranteed cash values not available on T100)
Optional additional benefits
  • Up to 2 Term riders
  • Accidental Death Benefit
  • Child Term Benefit
  • Hospital Cash Benefit
Dividend Options
None

PREFERRED ELITE LIFE INSURANCE

Canada Protection Plan’s Preferred Life product offers our best premium rates and coverages up to $1,000,000 for your healthiest clients. Coverage starts immediately.
T100 available
Yes (Life Pay only)
Issue ages
18-80
Face amounts
Ages 18-80: $500,000-$1,000,000
Premium payment options
Life Pay or 20 Pay
Premium limitations
Minimum annual premium $150.00 / Minimum monthly PAC premium $15.00
Death limitations(in addition to typical suicide and misrepresentation clauses)
No limitations



Guarantees
Premiums guaranteed not to change for the life of the policy
Included guaranteed benefits and features
  • Guaranteed cash values after the 5th policy year
  • Automatic Premium Loan provision
  • Terminal Illness Benefit
  • Transportation Benefit

  • (Guaranteed cash values not available on T100)
Optional additional benefits
  • Up to 2 Term riders
  • Accidental Death Benefit
  • Child Term Benefit
  • Hospital Cash Benefit
Dividend Options
None
paper with the products at a glance information on it
Products At A Glance
One page that summarizes Canada Protections Plan’s No Medical & Simplified Issue Life Insurance portfolio including:
  • Product details including age and amount limits
  • No charge benefits
  • Benefits available for an extra premium
DOWNLOAD PRODUCTS AT A GLANCE PDF

Determining Which Plan To Apply For

Our application makes it simple to determine the best plan for your client. The eligibility questions on the application start with the Section A questions. If your client answers “Yes” to any of the questions, then they qualify for Guaranteed Acceptance Life. For clients who can answer these questions “No”, they qualify for Deferred Life and can then move on to answer the Section B questions. If they can answer these questions “No”, they qualify for Deferred Elite Life and proceed to answer the Section C questions. And so on until they hit a “yes” answer, at which point, they know which plan to apply for. Simple!
DOWNLOAD APPLICATION FORM (FILLABLE) TRY OUR E-APP DEMO E-ACCESS

No Charge Additional Benefits

TERMINAL ILLNESS BENEFIT

If the Life Insured is diagnosed with a terminal illness with a life expectancy of two years or less, the owner will be paid an accelerated death benefit equal to 75% of the sum insured to a maximum of $250,000. Full premiums continue to be due and payable. At death, the coverage amount paid will be reduced by the accelerated death benefit paid.

There are exceptions to this benefit, including intentionally self-inflicted injury or attempted suicide, and the terminal illness must first manifest itself on or after the second policy anniversary while the policy is in effect. Written consent from all irrevocable beneficiaries, if any, is required.

TRANSPORTATION BENEFIT

If the Life Insured dies more than 200 kilometers from their principal residence, this benefit will pay $2 per kilometer, to a maximum of $2000 , to transport the body or remains back to their principal residence.

Optional Benefits

TERM INSURANCE RIDERS

A permanent plan (excluding Guaranteed Acceptance Life, Deferred Life and any 20 pay plan) is allowed up to 2 term riders in the same underwriting classification. The riders can be for 10, 20 or 25 year term periods. The minimum face amount for a term rider is $25,000 for Deferred Elite and Simplified Elite and $50,000 for Preferred and Preferred Elite. The maximum amount of all coverage – permanent and term – is the maximum amount shown for the permanent plan.

ACCIDENTAL DEATH BENEFIT

An Accidental Death Benefit may be added to any of our permanent insurance plans, and provides coverage up to the policy anniversary nearest the Insured’s 70th birthday, subject to the following limitations:
  • Amount: minimum of the lesser of 1 times coverage and $10,000; maximum of the lesser of 5 times coverage and $250,000.
  • Issue ages: 18-65

The Accidental Death Benefit is payable if death occurs directly and independently of all other causes, from bodily injury caused solely through external, violent and accidental means. Death must occur within 90 days after such injury and before termination of coverage.

This benefit has a number of exclusions including, but not limited to:
  • Suicide, whether sane or insane,
  • Assault or attempting to commit a criminal offense,
  • Any drug, poison or gas, or infection, except under limited circumstances,
  • Driving a vehicle while intoxicated by alcohol or illegal or unprescribed drugs.

CHILD TERM BENEFIT

A Child Term Benefit may be added to any of our permanent insurance plans except Guaranteed Acceptance Life and Deferred Life, and provides either $5,000, $10,000 or $15,000 of coverage on each natural or adopted child of the Insured as long as:
  • The Insured parent is between 18 and 60 years old at issue.
  • The child is unmarried and depends on the Insured for support.
  • The child is at least 30 days old but less than 18 years old and is specifically designated in the insurance application, or the child is born or adopted after the effective date of the rider and is at least 30 days old but less than 18 years old.

There is no limit to the number of children that can be covered.

A covered child has term insurance on their life until the earliest of the following:
  • The Insured Child’s 21st birthday
  • The Child Term Benefit expiry date, being the policy anniversary nearest the Life Insured’s 65th birthday, whether alive or deceased.

HOSPITAL CASH BENEFIT

A Hospital Cash Benefit may be added to our Simplified Elite, Preferred and Preferred Elite plans.

This benefit pays the benefit amount to the Insured if the Insured incurs a sickness or suffers an injury that requires them to be confined in a hospital as an inpatient for more than 24 hours. It is available in three different daily benefit amounts – $25, $50 and $100 per day. A benefit will only be paid for an injury if the hospitalization occurs within 30 days of the accident that caused the injury.

The daily benefit will be paid for the SAME sickness or injury for a maximum of 90 days. The daily benefit for the duration of the benefit, is payable for a maximum of 180 days.

The Hospital Cash Benefit is available at issue ages 18 to 65.

The daily benefit amount is doubled if the Insured incurs a sickness or suffers an injury that requires confinement in a hospital intensive care unit, as an inpatient, for more than 24 hours.

This benefit terminates on the earliest of the following:
  • The date on which the contract terminates, for whatever reason
  • The date on which the Hospital Cash rider terminates, for whatever reason
  • The anniversary date nearest to the Insured’s 70th birthday
  • The maximum benefit of 180 days has been reached.

Sample Policy Pages

The following sample policy pages are provided for reference only. They may be incomplete and/or may not reflect recent updates. To determine exact terms and conditions for a particular client, please refer to the actual policy issued to that client.
DEFERRED ELITE LIFE SIMPLIFIED ELITE LIFE