Canada Protection Plan Inc

What Canada Protection Plan Inc does

Canada Protection Plan Inc is a Canadian insurance provider founded in 1992 and headquartered in Toronto, Ontario, that specializes in simplified issue and no-medical life insurance products for individual consumers across Canada. The company offers a portfolio of six permanent life insurance plans (Guaranteed Acceptance Life, Deferred Life, Deferred Elite Life, Simplified Elite Life, Preferred Life, Preferred Elite Life) ranging from $5,000 to $1,000,000 in coverage, five term life insurance plans (Deferred Elite Term, Simplified Elite Term, Preferred Term, Express Elite Term, Preferred Elite Term), and four Critical Illness Insurance variants (Cardiac Protect, Cancer Protect, Cardiac AND Cancer Protect, Cardiac OR Cancer Protect) offering lump-sum payments up to $100,000 CAD. Underlying the offering is a simplified-issue underwriting methodology that uses health questionnaires and underwriting searches in lieu of medical exams, blood work, or doctor visits, enabling coverage decisions in as little as under a day for eligible applicants.

The business operates on a recurring premium revenue model (monthly pre-authorized bank debits or annual payments), with minimum premiums of $15/month or $150/year. Distribution is hybrid: direct-to-consumer via the company website's online Quick Quote tool and Insurance Needs Calculator, inside sales through licensed advisors reachable via the toll-free number 1-877-851-9090, and a third-party channel of independent insurance brokers and advisors using the E-access e-application portal (go.eaccess.ca). Multilingual advisor support (English, French, Urdu, Punjabi, Hindi, Arabic, Farsi, Mandarin, Greek) extends reach across all 13 Canadian provinces and territories, with specific accommodation for temporary residents holding valid work or study permits. All policies are underwritten by Foresters Financial (The Independent Order of Foresters), which acquired Canada Protection Plan in 2020 and holds an A.M. Best 'A' (Excellent) financial strength rating for 25 consecutive years. Policyholders receive complementary Foresters member benefits including competitive scholarships (400+ awarded annually, up to $8,000 per recipient), an online learning library of 200+ courses, and community grants.

Name

Canada Protection Plan Inc

Legal name

Canada Protection Plan Inc

Website

https://cpp.ca

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

Canada Protection Plan Inc is a Toronto-based Canadian insurer that sells no-medical and simplified-issue life and critical illness insurance to individual consumers across all 13 provinces and territories, distributed through licensed advisors, independent brokers, and online self-service tools, and underwritten by Foresters Financial.

Ownership category

akta.pro rank

Product category

Simplified Issue Life Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Simplified Issue (No-Exam) Term Life Insurance (FSAIAAAH)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Guaranteed Issue Whole Life Insurance (FSAIABAG), Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)

Keywords

• Simplified issue life insurance
• No medical life insurance
• Critical illness insurance
• Guaranteed acceptance life
• Term life insurance

Headquarters

HQ city

North York

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Life Insurance Premiums: Canada Protection Plan generates revenue through recurring insurance premiums paid by policyholders. Premiums are collected monthly (pre-authorized bank debits) or annually (cheque or credit card). Premium structures include level premiums for the selected term period, guaranteed not to change during the initial term. The company offers both permanent (whole life) and term life insurance products with coverage amounts ranging from $10,000 to $1,000,000 depending on the plan.
2. Critical Illness Insurance Premiums: Critical illness insurance policies generate recurring premiums. Four plan variants are offered: Cardiac Protect CI (up to $50,000), Cancer Protect CI (up to $50,000), Cardiac AND Cancer Protect CI (up to $50,000 each event), and Cardiac OR Cancer Protect CI (up to $100,000). Monthly payment plans do not start until the second month.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Canada Protection Plan Inc provides simplified issue and no-medical life insurance products to Canadians aged 18–80, offering both permanent and term life insurance with coverage from $25,000 up to $1,000,000. The company also offers critical illness insurance (Cardiac Protect, Cancer Protect, and combined variants) with payouts up to $100,000. All products are underwritten by Foresters Financial and require no medical exams, needles, or doctor visits, with many coverage decisions issued in under a day. Products are distributed through licensed insurance advisors, a phone-based sales team, an advisor e-application portal, and online self-service quote and calculator tools across Canada.

Product overview

Canada Protection Plan Inc is a Canadian insurance provider specializing in simplified issue and no medical life insurance products. The company offers a portfolio of permanent life insurance plans (Guaranteed Acceptance Life, Deferred Life, Deferred Elite Life, Simplified Elite Life, Preferred Life, Preferred Elite Life) and term life insurance products (Deferred Elite Term, Simplified Elite Term, Preferred Term, Express Elite Term, Preferred Elite Term) ranging from $25,000 to $1,000,000 in coverage. The company also provides critical illness insurance options (Cardiac Protect, Cancer Protect, Cardiac AND Cancer Protect, Cardiac OR Cancer Protect) offering up to $100,000 in coverage. All products are underwritten by Foresters Financial and distributed through licensed insurance advisors and online channels. Digital tools including a Quick Quote tool and Insurance Needs Calculator support the sales process.

Differentiator

Problem solved

Functional benefit

Products and services

• Guaranteed Acceptance Life Insurance

Quantifiable outcome

• Coverage decisions in as little as under a day for eligible applicants
• +6 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• Xx.com/CanadaProtPlan
• Facebookfacebook.com/CanadaProtectionPlan

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canada Protection Plan Inc