Advisor support


Advisor support


Combining substantial coverage of up to $300,000 with simplified underwriting, Standard Protection Plan is a permanent life insurance solution for residents of Canada between the ages of 18 and 70 who need lifetime insurance protection with a simple and fast qualifying process offered by Specialty Life Insurance. Coverage of up to $150,000 is available for clients between the ages of 71 and 79.

Standard Protection may be available, even if your client is concerned that a health issue could lead to a declined insurance application.

There are three requirements to qualify for coverage under Standard Protection:

  1. Your client is aged 18 to 79;
  2. Your client is a Canadian resident; and;
  3. Your client is able to truthfully answer NO to 13 qualifying health questions.

Your client may be eligible to buy this policy even if:

  • Your client has been deferred, postponed, or declined insurance for any reason;
  • Your client has past health issues that would lead to a deferral or decline under traditional plans; or
  • Your client is a newly landed immigrant or otherwise not a Canadian citizen.

Your clients aged 18 to 70 can apply for coverage of any amount, from $1,000 up to $300,000.

Your clients aged 71 to 79 can apply for coverage of any amount, from $1,000 up to $150,000.

During the first two years of coverage, the policy benefit is equal to the total sum of premiums paid plus 10% simple interest. After this two year period, full benefits are payable equal to the sum insured.

Simplified coverage - Only 13 qualifying health questions are required to receive coverage, with no questions pertaining to your client's family history or travel intentions.

Lifetime coverage - Your client's coverage lasts for a lifetime with premiums payable until age 100. Premium rates will never increase during the life of the policy.

No citizenship required - The life insured must reside in Canada to qualify, making this plan a suitable fit for applicants without Canadian citizenship or who are proceeding on the path to Canadian citizenship.

Instant issue - Specialty Life's fast application process can be completed entirely online, and you can leave your client with an issued policy in as little as one business day.

Premiums for coverage are determined by the applicant’s gender, date of birth, smoking status and coverage amount selected. These premiums will remain level for the life of the policy.