Canada Protection Plan: Simplified Life vs. Deferred Life

Posted on January 28, 2010 and updated February 28, 2012 in Canada Protection Plan, Canadian Life Insurance Companies, Life Insurance Canada News, Non-medical, Unity Life of Canada 2 min read

Unity Life of Canada joined the Foresters family in April 2008 and as of Jan 23 2012 changed their name to Foresters Life Insurance Company.

Canada Protection Plan is a Canadian company, which is a leading provider of non-medical life insurance solutions, underwritten by Unity Life.

They offer simplified life plans and deferred life policies.

The difference between these policies is as below;

The Simplified life policy
-Plans provide coverage from day one
-offers a wider range of health questions
-Simplified is not available to diabetics requiring daily insulin injections or applicants with chronic kidney disease. These individuals would qualify for the deferred life plan.

The Deferred life Policy
-The number of questions is much more limited (only 6 health questions)Therefore, individuals with more significant health issues can qualify for the deferred life plan.
-The death benefit is limited to a return of premium plus 3% interest in the first 2 policy years for accidental deaths.

 

    • Both plans are available without medical tests and doctors reports.

    • They also offer a choice of life pay or 20-year pay payment options.

    • Both plans also feature accidental death, hospital cash and a children’s term benefit option.


For more details on Canada Protection Plan’s, non-medical policy, or any of the other non-medical life insurance plans in Canada, please contact us at 1-866-899-4849, or visit our Non-medical Life Insurance Quote Page.

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Rajinder
Rajinder

Who pays out the Canada Protection Plan. I see their name on the policy but I also see Unity Life

LSM Insurance
LSM Insurance

Thanks for the note Rajinder. Unity Life of Canada was purchased by Foresters Life Insurance Company and they are the ones underwriting and Processing CPP policies.

Harry
Harry

Cab I get an immediate pay plan if I had cancer? I’m a non smoker and have a clean bill of health.

LSM Insurance
LSM Insurance

Thanks for the note Harry. It depends how long ago you were diagnosed with Cancer. But yes it is possible you could qualify for immediate coverage. We will send you a separate email now.

LSM Insurance
LSM Insurance

Thanks for the note. We are happy to help out.

santosh chandra nag
santosh chandra nag

If I go for cover I will definately choose Canada p. rotection plan.santosh nag