With Canada Protection Plan, you can apply for life insurance with us as we do not ask if you have ever been declined or rated. On our simple to fill out application, there are no questions on whether you’ve ever been declined or rated when applying for life insurance.
This is significant, because anyone who has previously received one of these decisions could face fewer choices and higher costs when shopping around for a policy.
You could be declined or rated because of health issues or a high-risk lifestyle choice. If you are rated, it’s a little like having a bad driving record – these ratings mean higher premiums. Some may get declined and this means that an insurer won’t issue any policy for them at all.
Because we do not ask these questions, it allows those who may have been disqualified or forced to accept a more restrictive and pricier policy, to be given a choice to purchase the best plan.
