Canada Protection Plan fills a real gap in the Canadian life insurance market: it provides coverage to people that conventional underwriting may decline or delay. You pay more for that flexibility. This review is part of the insurer reviews and life insurance guides; for how no-medical coverage fits among the other options after 60, see life insurance for seniors.
Canada Protection Plan at a glance
| Feature | Detail |
|---|---|
| Specialization | No-medical and simplified issue life insurance, plus no-medical critical illness |
| Owner | Foresters Financial (acquired Canada Protection Plan in 2020; Foresters began in 1874) |
| Insurer of record | The Independent Order of Foresters or Foresters Life Insurance Company |
| Financial strength | AM Best A (Excellent) for The Independent Order of Foresters, assigned October 10, 2025 |
| Distribution | Independent advisors, or Canada Protection Plan’s own licensed advisors |
| Issue ages | 18 to 80, varying by plan |
| Policyholder protection | Assuris member |
| Maximum coverage | Up to $750,000 (Express Elite Term); up to $500,000 on its other simplified plans; up to $50,000 guaranteed acceptance |
Product details on this page were checked on cpp.ca in September 2026; confirm current limits with an advisor.
Life insurance products
| Plan | Who it’s for | Issue ages and amounts | Waiting period |
|---|---|---|---|
| Express Elite Term (20 or 30-year) | Excellent health | Ages 18 to 50: $100,000 to $750,000; ages 51 to 60 (20-year only): up to $500,000 | None |
| Simplified Elite Term (10, 20 or 25-year) | Relatively good health; some previously declined applicants may qualify | $25,000 to $500,000 (up to $350,000 at ages 61 to 70) | None |
| Simplified Elite Life (permanent) | Relatively good health | Ages 18 to 60: $10,000 to $500,000; ages 61 to 80: $5,000 to $350,000 | None |
| Deferred Life (permanent) | Serious health conditions, including heart conditions, cancer or diabetes | Ages 18 to 60: $10,000 to $75,000; ages 61 to 80: $5,000 to $50,000 | 2 years for non-accidental death |
| Guaranteed Acceptance Life (permanent) | Anyone; applicants are not turned down for health | Ages 18 to 60: $10,000 to $50,000; ages 61 to 75: $5,000 to $50,000 | 2 years for non-accidental death |
The term plans are renewable to age 80 and convertible to age 70 (except the 25-year decreasing version of Simplified Elite Term). Canada Protection Plan also sells Deferred Elite, Preferred and Preferred Elite plans, and four no-medical critical illness plans covering cancer, cardiac conditions or both.
Pricing vs conventional underwritten life insurance
For the same coverage, no-medical and guaranteed issue plans generally cost more than a fully underwritten policy, because the insurer prices in health risk it hasn’t assessed. How much more depends on your age, health and the plan, so the practical test is to get a fully underwritten quote alongside a no-medical one. Canada Protection Plan’s website offers quick quotes, and a broker such as PolicyAdvisor can compare it with other no-medical insurers.
The waiting period: what it means in practice
- A death from natural causes in the first two years pays a return of the premiums paid (Canada Protection Plan's Deferred Life adds 3% simple interest).
- An accidental death is paid in full at any time.
- After two years, the full coverage amount is paid.
| Death in the first 2 years | Guaranteed Acceptance Life | Deferred Life |
|---|---|---|
| Non-accidental death | Return of premiums paid | Return of premiums paid plus 3% simple interest |
| Accidental death | Full coverage amount | Full coverage amount |
After 2 years, both plans pay the full coverage amount.
This matters: if death from natural causes comes in the first 2 years, the beneficiary receives roughly what was paid in premiums, which after a year or two of premiums is a small fraction of the face amount.
Guaranteed acceptance coverage is mainly a final expense option for people who can’t qualify for anything else. It is not a savings vehicle or an efficient legacy planning tool.
When Canada Protection Plan fits
It (or another no-medical insurer) tends to fit when:
- You have been declined by a conventional insurer
- You have a serious condition, such as a heart condition, cancer or diabetes, that makes conventional underwriting uncertain
- You want small final-expense coverage without a medical exam
- You need coverage quickly and can’t wait for full underwriting
It tends not to fit when:
- You are healthy and would qualify for conventional underwritten insurance
- A rated (more expensive) conventional policy would still cost less than no-medical coverage
- You need more than its maximums: $750,000 on Express Elite Term and $500,000 on its other simplified plans
Verdict
Canada Protection Plan is a legitimate, Assuris-protected option for Canadians who cannot get conventional life insurance, or can’t get it quickly. For its target market (people with serious health histories, seniors wanting final expense coverage, and people who have been declined before), it provides coverage that would otherwise be unavailable.
For everyone else, the higher price of no-medical coverage usually makes a conventional policy the better value. The usual order is to apply for a conventional underwritten policy first (the major life insurers all offer one) and turn to no-medical insurers only when that fails. For what conventional term coverage costs by age, see life insurance costs.
Frequently asked questions
Is Canada Protection Plan legitimate? Yes. Canada Protection Plan (not to be confused with the Canada Pension Plan) has been part of Foresters Financial since Foresters acquired it in 2020. Its policies are issued by The Independent Order of Foresters or Foresters Life Insurance Company, both Assuris members.
Is no-medical life insurance worth it? For people who can’t qualify for standard life insurance (recent cancer treatment, heart disease, poorly controlled diabetes), no-medical insurance provides coverage that would otherwise be unavailable. For healthy applicants who simply want to avoid the exam, the higher premium usually makes standard insurance the better-value choice. Some online sellers, such as PolicyMe, don’t require a medical exam for most applicants.
Related pages
Sources
The figures and rules on this page come from these sources, last checked against them between September 25, 2026 and September 30, 2026. How we check facts.
- Canada Protection Plan: Life Insurance | No Medical | Canada Protection Plan
- Canada Protection Plan: Guaranteed Acceptance Permanent Life Insurance | Canada Protection Plan
- Canada Protection Plan: Simplified Elite Permanent Life Insurance Plan | Canada Protection Plan
- Canada Protection Plan: Express Elite Term Life Insurance Policy | Canada Protection Plan
- Canada Protection Plan: Simplified Elite Term Life Insurance | Canada Protection Plan
- Canada Protection Plan: Deferred Life Insurance | Pre-existing Conditions | Canada Protection Plan