Canada Protection Plan Inc. announced on Monday it will increase coverage amounts on two of its life insurance plans.
Coverage under the Express Elite Term Life plan — the company’s newest product, designed for people in very good health — will increase to $750,000 from $500,000, with no medical required for clients aged 18 to 50.
Coverage under the Guaranteed Acceptance Life Insurance plan — designed for people with challenging health conditions — will double, increasing to $50,000 from $25,000 for clients aged 18 to 75.
“The increase in coverage on our Express Elite and Guaranteed Acceptance plans offer expanded financial solutions for clients in various life stages and health conditions,” said Michael Aziz, co-president, Canada Protection Plan, in a statement.