We’ve got the Answers: What is the Canada Protection Plan Express Elite Plan?

Lorne: I’m here with Mike Liam from Canada Protection Plan today. We are doing some video work and we are talking first about Canada Protection Plan’s new Express Elite plan. Why don’t you tell us a little about the plan, Mike, and what makes it unique and why you came out with it and all that fun stuff.

Mike: Thanks, Lorne, for having us. We came out with it on May 29 for one particular reason. We are reaching out into what we call the “regular markets” now. It’s basically designed for people who are healthy, 18-60, it’s only term (Term 20 or Term 30). It’s for people who are very busy, have active lives, and don’t have time to meet with their brokers. They concentrate more on non face-to-face interactions, and again no health issues really, just the fact that they don’t have time to do a paramedical exam. They are the clients that reschedule their exams, cancel their exams, that reschedule their appointments with their advisors and say “can we just do this online? I don’t have time.” People who just have busy lifestyles. This is an alternative solution for them to do the application on their own time.

Lorne: Cool. Now, in terms of how it might differ from other carriers, is there anything that is really unique about the plan?

Mike: What is unique about it is now we have our Express Elite. We have always had our, what we call, A-Z. That’s our existing plan for people that weren’t healthy. A lot of time some people won’t even know if they are healthy. When they do an application, some people get caught on what is called an MIB – medical information bureau. Some clients don’t even know what that is. So, when we see it, we can say, “unfortunately we’ve caught something on MIB; you’re not going to qualify for our express elite app, but guess what? We can transfer all that information into our other app and continue the simplified issue process with no medical.

Lorne: Sounds great! Thanks for telling us about it, Mike.

Mike: Thank you.


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