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Canada Protection Plan changes qualifying criteria

By Alain Thériault | March 03 2016 10:07AM

Michael Aziz

In an interview with FlashFinance.ca, a sister publication of The Insurance and Investment Journal, Canada Protection Plan (CPP) revealed that it has removed a qualifying question from its insurance application. 

Michael Aziz, vice president of sales at CPP, says that the insurer has withdrawn the question: "In the last two years, have you applied for insurance which was declined or postponed?" from both its paper and electronic applications.

This change allows prospects who otherwise would have been disqualified and forced to accept a more restrictive product such as CPP’s No Medical Deferred Life Insurance to access some of the company’s more generous offerings, including the Simplified Life Plus range and even in some cases CPP’s Preferred category.

"If you had been denied for hemophilia, for example, answering yes to this question would limit you in your choice of products, he said. Instead of deferred product, you will get the enhanced simplified product,” explained Aziz. The new applications are available in both French and English.

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