4 NO MEDICAL critical illness plans for $15 per month

Do you know that if you have a prior diagnosis of cancer, you would be eligible for cardiac critical illness insurance plan? Do you have diabetes and don’t even think about getting cancer insurance that you’d like to? Not any longer! Unlike many other insurance companies, Canada Protection Plan does not include a 24/24 pre-existing clause.

It means that you cannot be denied if you had a pre-existing condition within 24 months prior to coverage that results in a claim related to the pre-existing condition within 24 months after the coverage is in effect. For example, if you are investigated for stomach pain 15 months prior to receiving a CI contract with this clause, and are diagnosed with stomach cancer 18 months after, your claim may be denied.

4 NO MEDICAL critical illness plans for $15 per month

Canada Protection Plan has “unbundled” cardiac and cancer conditions, making critical illness insurance more affordable and accessible. It offers four plans that cover 8 major impairments and all are NO MEDICAL:

  1. Cardiac Protect CI (T75)
  2. Cancer Protect CI (T75)
  3. Cardiac AND Cancer Protect CI (T75)
  4. Cardiac OR Cancer Protect CI (T20 or T75)

You can get any of those plans (or choose to get both Cardiac and Cancer coverage) even if you were diagnosed with heart disease or diabetes, or have high blood pressure, or had a stroke, TIA or heart attack. And you’ll only pay for the coverage you choose, making your premiums more affordable.

General characteristics:
  • No 24/24 pre-existing conditions clause
  • Up to $100,000 of critical illness insurance protection is available depending on age and the plan you qualify for
  • A simple and fast process – only 6 questions for up to $24,999 lump-sum protection and an additional 2 questions for face amounts $25,000 and over
  • Two premium bands: Band 1: Standard rates: $10,000 – $24,999; Band 2: Preferred rates: $25,000 and over
  • No questions about previous decline history
  • Guaranteed coverage to age 75 with premiums guaranteed in the first five years
  • You can speak directly to the underwriters and they will be happy to answer any questions
  • You can complete our No Medical Life and Critical Illness Insurance application process securely online and non face-to-face
Canada Protection Plan’s critical illness portfolio consists of 4 distinct plans:

Plan 1

Cardiac Protect CI with $15 minimum monthly premium

Cardiac Protect CI is a Critical Illness insurance that provides a lump sum benefit up to $50,000 upon diagnosis of Heart Attack, Stroke, Aortic Surgery, Coronary Artery Bypass Surgery and Heart Valve Replacement or Repair. This plan may be available to clients who have a prior diagnosis of cancer.

General info:

  • Ages – 18–65: Term to age 75
  • Coverage – $10,000–$50,000
  • Level Term Periods Available – Level term to age 75
  • Minimum annual premium: $150.00
  • Minimum monthly premium: $15.00

Premiums are banded based on coverage amount:

  • Standard Rates/Band 1: $10,000 – $24,999
  • Preferred Rates/Band 2: $25,000 – $50,000

Plan 2

Cancer Protect CI with $15 minimum monthly premium

Cancer Protect CI is a Critical Illness insurance that provides a lump sum benefit up to $50,000 upon diagnosis of a life-threatening cancer, aplastic anemia, and benign brain tumour. This plan may be available to clients who are diabetic, or who have had high blood pressure, stroke, TIA or heart attack.

General info:

  • Ages – 18–65: Term to age 75
  • Coverage – $10,000–$50,000
  • Level Term Periods Available – Level term to age 75
  • Minimum annual premium: $150.00
  • Minimum monthly premium: $15.00

Premiums are banded based on coverage amount:

  • Standard Rates/Band 1: $10,000 – $24,999
  • Preferred Rates/Band 2: $25,000 – $50,000

Plan 3

Cardiac AND Cancer Protect CI with $15 minimum monthly premium

Cardiac and Cancer Protect CI is a Critical Illness insurance that provides two lump sum benefits up to $50,000 each, upon diagnosis of critical illness conditions from the following two categories:

  1. Cardiac: Heart Attack, Stroke, Aortic Surgery, Coronary Artery Bypass Surgery and Heart Valve Replacement or Repair.
  2. Cancer: Cancer, Aplastic Anemia, Benign Brain Tumour

Payments:

  • Payment of a second benefit amount is possible under this policy, however only one benefit amount will be paid under each category of covered conditions.
  • Premiums after the first event are reduced to cover the second and are based on age at application vs. age reached at first event.

General info:

  • Ages – 18–65: Term to age 75
  • Coverage – $10,000–$50,000
  • Level Term Periods Available – Level term to age 75
  • Minimum annual premium: $150.00
  • Minimum monthly premium: $15.00

Premiums are banded based on coverage amount:

  • Standard Rates/Band 1: $10,000 – $24,999
  • Preferred Rates/Band 2: $25,000 – $50,000

Plan 4

Cardiac OR Cancer Protect CI with $15 minimum monthly premium

Cardiac OR Cancer Protect CI is a Critical Illness insurance that provides a lump sum benefit up to $100,000 upon diagnosis of one of the following eight critical illness conditions: heart attack, stroke, aortic surgery, coronary artery bypass surgery, heart valve replacement or repair, cancer, aplastic anemia and benign brain tumour.

Issue Ages:

  • 18–55: Term 20
  • 18–65: Term to age 75

Coverage:

  • $25,000–$100,000 for Term 20
  • $10,000–$100,000 for Term to age 75

Terms:

  • Term 20: 20 year, renewable to 75
  • Term to age 75: Level term to age 75

Premiums:

  • Minimum annual premium: $150.00
  • Minimum monthly premium: $15.00

Premiums are banded based on coverage amount:

  • Standard Rates/Band 1: $10,000 – $24,999 (Term to age 75 only)
  • Preferred Rates/Band 2: $25,000 – $100,000

Renewable without evidence of insurability on Term 20 plan to age 75

Non-convertible

Moratorium Period – 90 days for Cancer

Survival Period – 30 days

24/24 Pre-existing Condition – None

Now, the Cardiac AND Cancer plan covers both the first AND the second event. This plan can cover cardiac conditions after a cancer event or cancer conditions after a cardiac event.

 

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