Ok, So What is the Canada Protection Plan you ask? 

It sounds like a Government program BUT it’s not! 

If you haven’t heard of Canada Protection Plan (CPP) before, you’re not alone so don’t beat yourself up. Psst! As an aside, it’s NOT to be confused with the Canada Pension Plan! 

CPP insurance is a relatively small company operating in the Canadian life insurance market. But just because they’re small doesn’t mean they don’t punch above their weight.

Canada Protection Plan is probably one of the best known simplified, non-medical life insurance carriers in the country. If you’re unfamiliar with non-medical or no exam life insurance, read my post here.

So without further adieu, I’m going to explore this interesting life insurance company with you right now to see if they are the insurer for YOU. 


Canada Protection Plan Reviews

If You're Considering CPP Insurance, You Need to Speak to an Independent Life Insurance Agent

…BUT before we go any farther, I want to tell you what I tell everyone who’s thinking about protecting their families or loved ones. Always get the advice of an experienced independent life insurance agent.

Policy Architects Agents know the ins and outs of the market and have in-depth knowledge of the products on offer. In a nutshell, we’re in the best position to help you find the right policy for the right price.  At Policy Architects we work for you NOT the insurance company. Our job is to shop the market and connect you with the life insurance carrier that will treat you most favourably.

A Word or Two About Canada Protection Plan

When CPP insurance entered the market in 1992 it provided just one Non Medical niche product. Now it has a whole range of Simplified or Guaranteed Issue products.

These insurance policies are best suited for harder-to-insure individuals such as the elderly or people who are considered high-risk. If you’ve seen a Canada Protection Plan commercial, you know one of their target markets is term life insurance for senior citizens.

Canada Protection Plan Financial Ratings

Canada Protection Plan life insurance is a privately owned corporation based in Toronto. It’s been in business for approximately 25 years which gives it a “newbie” status in life insurance circles. CPP’s annual revenues are somewhere between $1 – 4 M and it employes about 30 people. 

If you’re concerned about its longevity and small size, don’t be.  Canada Protection Plan is underwritten by Foresters Financial, a giant in the North American Insurance Industry. Foresters has assets totaling over 14 Billion dollars and has been in business for over 140 years. This connection should make you rest easy if you’re insured by Canda Protection Plan. 

The good news doesn’t stop there! CPP has been accredited by the Better Business Bureau (BBB) since 1999 with an A+ rating. More importantly, its underwriter, Foresters, maintained an A.M. Best financial strength rating of A (Excellent) from 2017 – 2018. 

Now you’re talking! 

CPP Insurance Policy Architects

Canada Prot​ection Plan Reviews - What Do Customers Think?

Canada Protection plan is rated 4 Stars out of 5 based on 30 Google reviews. That’s a great rating compared with other insurers! 

It’s difficult to know how much weight to give bad reviews. To be perfectly honest all insurance companies receive them. It’s human nature. When you’re angry and motivated, you’re more likely to leave a negative review. 

When your experience is positive, you’re less likely to write anything at all.

CPP Insurance Customers

If we check in with the Better Business Bureau, CPP insurance has only one minor complaint. It was related to administration, within the last 3 years. Even better? They have no complaints at all so far this year.

Reviews from employees are mixed as well. This insurer maintains 2.9 stars out of 5 on Glassdoor. So maybe they aren’t the best employers. You can read what you want into this but this could definitely cause problems in customer service. 

So how much stock should you put into these Canada Protection Plan reviews? That’s a great question! It suffices to say reviews shouldn’t be the only factor you use when deciding on a potential insurer. In fact, I would say it’s low on the totem pole because of people’s penchant for grumbling. 

Canada Protection Plan Reviews -  Products

Ok guys, this is where it gets fun! I really enjoy perusing the products so here goes! 

CPP Canada Protection Plan is known primarily for their simplified no medical exam life insurance but they also sell Critical Illness, Health & Dental and Travel Insurance. Their market niche is mainly​ life insurance for high risk people.

This company uses a lot of different names for their plans including CPP Guaranteed AcceptanceCPP Deferred,  CPP Deferred Elite, CPP Simplified Elite, CPP Preferred, CPP Preferred Elite and more recently, CPP Express Elite Term. 

Hmmm, it’s a little confusing but don’t let that scare you off! Their coverage options are pretty straightforward! Basically, they offer Permanent (Whole Life) or Term insurance (Simplified & traditional).

So let’s check our their Permanent & Term options now! 

Canada Protection Plan Term and Permanent Life Insurance

CPP Express Elite Term Insurance

Term life insurance is hands down the best option for most people 90% of the time. It is the most affordable coverage for those looking to protect their income and their mortgage. It offers temporary protection that is commonly purchased in 10-year, 20-year or 30-year blocks. For example, if you have a family with young children, you may want to secure a 20 or 30-year term so that you have substantial protection while your family is most financially vulnerable. During your term of coverage, your monthly cost is guaranteed to never-go-up and when the term ends, your coverage expires. So basically you’re buying insurance only for the window of time that you need it. 

Canada Protection Plan’s Express Elite Term is a new plan designed for consumers in excellent health who want their term coverage issued fast! Not only is the application process quick, but CPP insurance also claims that it has the best rates for no medical term coverage up to $500,000. The application can be completed in as little as 15 minutes and a policy issued within 72 hours!

  • Available as Express Elite Term 20 or Express Elite Term 30
  • Designed for healthy individuals with no insurability issues
  • Eligible ages 18-60 for Term 20
  • Eligible ages 18-50 for Term 30
  • Renewable to age 80
  • Convertible to age 70
  • Child rider option
  • Coverage amounts $100,000 – $500,000
canada protection plan express elite
Canada Protection Plan Guaranteed Issue

CPP Guaranteed Acceptance Life

This is CPP’s one guaranteed-issue life insurance product. It’s intended for people with serious insurability issues. So how does it work?

CPP Guaranteed Acceptance Life is only available as a permanent product. There are absolutely no health exams or medical questions required to begin coverage.

I love it because anyone aged 18 to 75 can get this insurance! You can’t be denied! If you’re newly diagnosed with a life-threatening illness or recently had a heart attack, you’re still eligible for this coverage.

This is a good safety net for a small amount of debt or final expenses. So what’s the catch? Because you know there is always one or two! 

  • The maximum amount of protection is limited to $25,000
  • There’s a 2-year waiting period. If death happens within the first 2 policy years due to non-accidental means (other than suicide), your beneficiaries will receive a refund of all premiums paid.
  • It’s the most expensive coverage, for example, a 65 year old male will pay $216.86 per month for $25,000 of insurance
  • Builds up a small amount of Guaranteed cash value over time.

CPP Insurance Deferred Life

CPP Deferred Life

  • Designed for individuals with moderate to serious health issues
  • Ages 18 – 80
  • Available as permanent insurance
  • Available as term insurance: 10 year,  20 year, 25 year & 25 year decreasing
  • Coverage amounts $5,000 – $75,000
  • 2 year waiting period
CPP Insurance Products

CPP Deferred Elite Life & Deferred Elite T100

  • Designed for individuals with moderate health issues
  • Ages 18 – 80
  • Available as permanent insurance (CPP Deferred Elite T100 only available permanent)
  • Available as term insurance: 10 year,  20 year, 25 year & 25 year decreasing
  • Coverage amounts $5,000 – $350,000
  • 2 year waiting period: if death from non-accidental causes, premiums paid back in 1st year and 50% of death benefit paid if death is in 2nd policy year
CPP Insurance Products

CPP Simplified Elite Life & Simplified Elite T100

  • Designed for healthy individuals with few insurability issues
  • Ages 18 – 80
  • Available as permanent insurance ((CPP Simplified Elite T100 only available permanent)
  • Available as term insurance: 10 year,  20 year, 25 year & 25 year decreasing
  • Coverage amounts $5,000 – $500,000
CPP Insurance Products

CPP Preferred Life, Preferred Elite Life & T100

  • Designed for healthy individuals with no insurability issues
  • Subject to underwriting & may require a medical exam
  • Ages 18 – 80
  • Available as permanent insurance ((CPP T100 only available as permanent)
  • Available as term insurance: 10 year,  20 year, 25 year & 25 year decreasing
  • Coverage amounts $50,000 – $1,000,000

Canada Protection Plan Critical Illness Insurance

CPP or Plan De Protection Du Canada as known in Quebec has three critical illness plans available through Foresters life insurance company. One is a simplified-issue and the other two are traditional plans which require medical underwriting.

CPP Insurance Critical Illness
CPP Insurance Critical Illness

Health Security Plus

  • No exam, nurses or needles
  • Covers 6 critical illnesses
  • Premiums are graded (To be Avoided if possible as monthly costs go up over time)
  • Available to ages 20 – 55
  • Coverage amounts $10,000 – $100,000
  • Renewable every 10 years up to age 75

Lifecare 10 & Lifecare T75

  • Traditional medical underwriting
  • Covers 21 critical illnesses
  • Level premiums (costs stay the same over the length of term)
  • Available to ages 18 – 65
  • Coverage amounts $25,000 – $2,000,000
  • LifeCare10 renewable every 10 years up to age 75

Canada Protection Plan Health and Dental Insurance

Canada Protection Plan Dental Insurance

CPP Health and Dental Insurance

Canada Protection Plan doesn’t really offer their own health or dental insurance.

What am talking about? It’s not uncommon for insurance companies to set up deals with other carriers to offer a wider range of products. This is one of those situations.

CPP insurance is offering Manulife’s FlexCare and FollowMe Plans…I’ll save that review for another day.

Canada Protection Plan Travel Insurance

CPP insurance travel

Canada Protection Plan Travel Insurance

CPP insurance offers travel coverage through Allianz Global Assistance. It’s underwritten by CUMIS General Insurance Company, a member of The Co-operators group of companies.

The general rule is that you’ll need to buy emergency medical or evacuation insurance when going out of the U.S., Rick Garlick, a hospitality and travel expert with Magid Associates, tells CNBC Make It. “Insurance is much more necessary on international versus domestic trips, particularly ones you have to plan far in advance,” he says. 4 Times You Can Skip Travel Insurance and 3 Times You Should Buy It, CNBC 

Canada Protection Plan Reviews - Underwriting

canada  protection plan underwriting

The majority of Canada Protection Plan products are simplified-issue requiring no health test. This means they have lightening-fast underwriting so your insurance can be approved within as little as 48 hours!

Cpp insurance also encourages independent advisors to speak directly with their underwriters if there are any eligibility questions or concerns.  

Canada Protection Plan Reviews - Application Process

A Canada Protection Plan application requires NO fluids, NO tests, and NO forms. However, you’re still required to answer a series of medical questions organized in modules or groups. The farther you make it through these sections without answering “yes” to any of the questions, the more coverage you’re eligible for at a lower cost.

Check out my No Exam Life Insurance post here – for detailed examples of application questions.

canada protection plan no medical exam
CPP Insurance Application

Canada Protection Plan has a fast, reliable, easy-to-use electronic application process. Your independent life insurance agent can fill it in with you face-to-face or over the phone. It also has a saving feature that’s really handy. You can stop in the middle of your application and save your information at any point to be continued later. 

This is one thing CPP insurance got right! They made the application process very straightforward for advisors and consumers. The processing time is quick as well!  Consumers can be notified of approval within 48 hours of submitting an application.

Question Life Insurance 101

Hey James - all this is fine but is Canada Protection Plan the right company for Me?

Answer Life Insurance 101

There's only one way to find out! Let's see how they stack up against the competition.

Example 1

Sharon is a 65 year old, non-smoking, female with a serious health condition. Unfortunately, she only qualifies for $25,000 of CPP Guaranteed Acceptance Life coverage. Her monthly premiums are $153.38! 

So what about the competing life insurance companies? Could Sharon do better? 

If she applies to Access Life L100 Guaranteed Access with Industrial Alliance Insurance (IA) her premiums will be: 

  •  $177.84 per month
CPP insurance Rates

Which means if she goes with the CPP insurance quote, that’s a monthly savings of $24.46 or 15%! 

But what happens if her beneficiaries get a payout? Let’s assume for argument’s sake Sharon passes away when she’s 75 years old. She’s married, so her husband Bernard is paid out $25,000 tax-free! 

What is the total cost of insurance for each company?

So let’s compare! 

  • Canada Protection Plan: Sharon’s total cost of insurance over ten years is $18,456 ($153.38 per month x 12 months x 10 years).
  • Industrial Alliance: Sharon’s total cost of insurance over ten years is $21,340 ($177.84 x 12 months x 10 years).

Her savings is: 


Now, this is pretty great! Who wants to spend more money than they have to?

What would you do with $2,884 of savings? 

NOTE: These policies are very similar but not identical! The Industrial life policy has higher cash surrender and paid-up values than the Canada Protection Plan example. Another reason to call Policy Architects. We have all the deets! 

Example 2

So let’s check out another example. Raj is a healthy 43 year old non-smoking male with Type 2 Diabetes. He qualifies for CPP’s most affordable no medical term life insurance. Because he has a lot of debt, Raj is looking for $500,000 of coverage over a 20 year term (Canada Protection Plan also offers Term 25 coverage).

Let’s check out Raj’s premiums now! Oooops! Access Life T20 Immediate Plus maxes out at $300,000 in coverage! Hmm, that’s just not enough. Hmmm, but to fair, we should compare apples to apples. 

  • Access Life T20 Immediate Plus for $300,000 of coverage for 20 years will be $74.79/month
  • CPP Simplified Elite Life Term 20 policy with $300,000 of coverage will cost him $71.28/month
Canada Protection Plan Premiums

As you can see CPP is slightly cheaper than Industrial Alliance, but not by much.  So here’s the rub. CPP Insurance will give him $500,000 in coverage! So how much will this cost?

  • CPP Simplified Elite Life Term 20 policy with $500,000 of coverage will cost him $115.20/month

Doesn’t sound too shabby to me. CPP insurance comes out on top because their coverage maximum is 66% higher at $500,000. This is a win for CPP Insurance. 

Canada Protection Plan Pros

Niche Provider

What's the saying? Do one thing and do it well! Canada Protection Plan's narrow focus means they do a really great job with No Medical Guaranteed and Simplified Issue Life Insurance.

Ease Of Application Process

Hey, your time's valuable! Who wants to wait around, especially when there's no health exam or any forms to fill out. Your independent advisor can complete an electronic application with you in as little as 10 minutes!

No Fluids, No Paperwork & No Headaches

I don't know about you, but if I don't have to get a needle or pee in a cup, it's a good day.  

High Maximum Coverage Amounts

Within the Simplified Issue niche, CPP insurance has great maximum coverage amounts : $5000 - $500,000

Life Insurance for Diabetics

Can diabetics get life insurance? You Betcha...with Canada Protection Plan you can! If you have diabetes and have been rated by a traditional carrier you stand an excellent chance of being approved.

When applying to traditional carriers, it’s not uncommon to get a rating of 150% or higher if you have type 2 diabetes. This means you’ll pay more money for your life insurance. For example, if you’re a 55 year old male applying for $250,000 of Term 20 with Ivari insurance, a 150% rating would mean you pay $223.54 per month. If you qualify for CPP Simplified Elite Term,  you’ll pay $193.05 per month. That’s roughly the equivalent of a 130% rating and 20% less than what you would pay with Ivari or other traditional carriers. 

can diabetics get life insurance

NOTE* If your independent life insurance agent thinks you have a chance at a standard rate, it's always worthwhile applying to traditional carriers. If you've already been rated or don't want the hassle of a drawn out application process, CPP is a great alternative.

Longest Term Coverage: 25 Years

Canada Protection Plan offers 25 Year Term Coverage - the longest term coverage among Simplified-Issue Carriers.  

Quick Approvals

If you want fast coverage, you've come to the right place! It's not unusual to have your life insurance approved and in force within 48 hours of completing a Canada Protection Plan application.


Canada Protection Plan is very economical compared with other Simplified Issue life insurance carriers.

Canada Protection Plan Cons

Small Company Without a Long History

Even though Canada Protection Plan is underwritten by Foresters Financial, they're still a small, private corporation that's been in business for less than 25 years. As such, it's hard to find solid information from which to gage their financial health.

Mixed Customer/ Employee Reviews

Every company has negative and positive reviews but comments by CPP ex-employees hint at possible high staff-turnover as well as customer service deficits.

Their Traditional Term Insurance Is More Expensive

CPP insurance's Preferred Life Term insurance (fully underwritten) is more costly than many other traditional carriers term products.

Limited Selection Of Products

James, you can't have your cake and eat it too! I know this is a double-edged sword but that's why this icon's coloured orange NOT red!

Yes having a company that does one thing really well is good thing. There's definitely something to be said for specialization. 

...and Canada Protection Plan is a GREAT company for that.

Even though I place a strong emphasis on specialization, I also think the range of life insurance products they have is limited. So I thought this was worth mentioning.  

Is Canada Protection Plan Right For You?

Well, that’s the question – does CPP insurance have the right plan for you?

Remember, Canada Protection Plan is a no medical exam life insurance carrier.

This coverage is ideal for you if you have a serious health or insurability issue. Many people overestimate the gravity of their health condition with respect to life insurance. BUT In most cases, you’re healthier than you think.

You should consider Canada Protection Plan ONLY if you have any of the following:

  • A serious health condition
  • Participate in Xtreme sports
  • A dangerous occupation
  • REALLY afraid of needles and fluids
  • Have visitor or non-resident status
  • Are looking for a small policy to take care of your final expenses
  • Received a Travel Exclusion with your traditional coverage
  • Need life insurance FAST!
canada protection plan reviews

Guaranteed or Simplified-Issue life insurance should always be your Plan B. Whenever possible, apply for traditional underwritten life insurance first before moving to no medical plan because it’s usually always more affordable. 

This is why it’s so important to talk to an independent life insurance agent like Policy Architects. Canada Protection Plan is a great non-medical life insurance provider which may or may not be the right choice for you. 

Give us a call, we can help!