Enhancements to Canada Protection Plan (CPP)
CPP Enhancements Each year many Canadians are declined for standard insurance coverage leaving many without any insurance coverage. CPP’s Non-medical insurance solutions can be an alternative to a declined policy and can also be more affordable than a rated insurance contract.
As of today, CPP offers a enhancements to their insurance plans, below are some highlights for the new plan;
- $0 first month’s premium – applicable to monthly payment plans
- Up to $500,000 in coverage NO MEDICAL
- Up to $1 million in coverage for Preferred simplified
- Lower premiums • Deferred Elite: pays 50% of the death benefit in year 2 (months 13 - 24)*
- Guaranteed Acceptance
- Regardless of health condition
- Up to $25,000, issue ages 18 to 75
There are many other enhancements to the plan most notably to the timeframe that you may be considered for coverage due to an illness, for example if you had cancer and are in remission for the past twelve months you may be eligible for coverage. If you have multiple sclerosis you may be eligible for Simplified Elite and so on.
For more information or to apply for coverage through CPP contact us today!