Lorne: I have Mike Liem here with me from Canada Protection Plan. We’re going to talk a little about life insurance and how someone who has cancer can qualify for life insurance. I know we get a lot of inquiries on our website about people who have had cancer or whose family members have cancer. What’s the difference between going the traditional route, versus going unwritten, versus going the simplified issue route with a company like yours? Since you’re a leader in that space, if you could tell us a little about that and what their options might be, that would be great.
Mike: Great. Again, thanks for having me today, Lorne. Basically, with Canada Protection Plan, we can cover cancer at almost any stage. So really, if they are currently going through chemotherapy, we can go up to almost $75,000 dollars for life where, with other companies, it’s a straight-up decline.
Lorne: Yeah, for sure.
Mike: We know, for a lot of other companies, when they go up to even three years cancer-free, they still won’t even tender an offer for those clients. Typically, when they are about five years or more of being cancer-free, they will offer a rating, and usually an extra premium as well. Where with us, if a client has been cancer-free for three years and it was their first bout, we go up to half a million dollars simplified issue, our best no medical product.
Lorne: Wow, that’s great! Thanks for sharing. That’s a lot of good insight. We get a lot of questions from people who visit our site — even advisors are asking us, “what are the options for our clients?” It’s really great to have that information, and it’s great work from you guys.
Mike: Great. Thank you.
Cancer patients as well as cancer survivors can get a life insurance without medical exam and/or questions from more than 20 Canadian providers.
