Canada Protection Plan: Deferred Life and Simplified Life Pricing

Choose the Whole Life policy
that's right for you.
Photo by Shirley Buxton

Canada Protection Plan offers a Whole Life policy that's classified as Deferred Life or Simplified Life and comes in in both LifePay and 20-Pay formats.

The premiums are the same for both policies, but the difference is that the Deferred Life plan has a more limited set of health questions and the death benefit is limited to a return-of-premium plus the interest in the first two years for non-accidental death.

The Simplified Life plan has more stringent health questions, but provides coverage from day one. Sample pricing can be found below:

 Deferred Life - LifePay

30-year-old, male non-smoker: $24.21/month Smoker: $32.99/month.

40-year-old, male non-smoker: $33.93/month Smoker: $50.33/month.

50-year-old, male non-smoker: $57.98/month Smoker: $89.42/month.

60-year-old, male non-smoker: $103.75/month Smoker: $160.02/month.

Simplified Life - LifePay

30-year-old, female non-smoker: $21.87/month, Smoker: $27.25/month.

40-year-old, female non-smoker: $29.00/month, Smoker: $41.31/month.

50-year-old, female non-smoker: $47.39/month, Smoker: $66.49/month.

60-year-old, female non-smoker: $85.46/month, Smoker: $113.04/month.

For more details on Simplified Issue Whole Life policies in Canada, please contact us at 1-866-899-4849 or visit our Non-medical Life Insurance Quote Page.

Posted by Chantal Marr.