Non-Medical, CPP term insurance: a brief

Non-Medical, CPP term insurance: a brief

Canadian Protection Plan [CPP] has been offering a wide range of  term life insurance plans since 2006 and these plans have been underwritten by Unity Life.

The most significant products from CPP  are Deferred Term, Simplified Term and Simplified Term Plus. They are all available without a medical and can be purchased online, or through a broker.

Before you choose a plan that works for you, take a closer look and see what each one means for your financial future.

Deferred Term

  • The death benefit is limited to a return of the premium (plus interest) in the first two years of the policy, unless the death is accidental.
  • The maximum face amount is $100,000.
  • Only a few health questions with a strict height and weight table.

Simplified Term

  • The death benefit starts from day one.
  • Face amounts up to $150,000
  • It comes with a wide range of health questions, but there’s still no medical examination.

Simplified Term Plus

  • The death benefit starts from day one.
  • Face amounts up to $150,000
  • This has the lowest premiums in CPP’s simplified insurance product range, but has the widest range of medical questions as well.
Related Articles and references

1.Parkinson’s Disease and Life Insurance: Parkinson’s Disease is a progressive neurodegenerative disease, primarily affecting voluntary, controlled movement. It results from the loss of cells in a part of the brain called the substantia nigra…. http://yourinsuranceguy.ca/parkinson%e2%80%99s-disease-and-life-insurance/

2. Life Insurance and Cancer survivors:  Advancements in science and medicine have made several types of cancers treatable in the early stages… http://yourinsuranceguy.ca/life-insurance-and-cancer/

3. Life Insurance for Seniors: There has been a dramatic change in the Canadian Life Insurance market for seniors. Cost of insurance ( ie. Premiums) has gone down, however …   http://yourinsuranceguy.ca/life-insurance-for-seniors-and-important-factors-to-consider/

4. Non-Medical Life Insurance: Some people aren’t going to qualify for these policies because of their medical history or condition, and this can jeopardize their family’s financial security  in the event of their death. It might seem like all hope is lost, but it’s not! You have the option of non medical life insurance that don’t require a medical exam. 

Please feel free to contact Aman Kapur at www.youinsuranceguy.ca or by phone 1-416-509-2540 to assist with the plan of your choice. Or simply click here to request a quote.

 

 

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