CARP’s Non-Medical Life Insurance

Posted on August 10, 2009 and updated September 21, 2010 in Life Insurance Canada News 2 min read

Carp is far removed from the fish of the same name.

Actually, it is CARP — formerly the Canadian Association of Retired Persons, its role has since expanded as the Canadian Association for the Fifty-Plus. CARP was founded by Murray and Lillian Morgenthau in 1984 with the mandate to provide the seniors under its membership with “powerful advocacy, targeted benefits and community support for an improved quality of life.” In 2008, Canadian media impresario Moses Znaimer took over the reigns of CARP under his ZoomerMedia enterprise.

One of those “targeted benefits” includes a Guaranteed Issue Life Insurance Plan available exclusively to CARP members. (Paid memberships with a free subscription to Zoomer Magazine range from $29.95 for one year to $79.95 for three years.)

Healthy CARP members would be better off looking for traditional life insurance.

Offered through Manulife since 2006, the plan has absolutely no health questions and face amounts range from $2,500 to $25,000. However, this convenience comes with a heavy price.

(CARP’s Non-Medical Life Insurance continued…)