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Simplified Elite Life Insurance

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CPP Simplified Elite Life Insurance – An Easy Way to Stay Covered

Getting lifetime coverage with some insurance plans is a real hassle and requires a lot of efforts. In some cases, a lot of paperwork, blood test, and medical exams may be required. However, simplified elite is a lot different. No reference is made to medical health during the application; however, the plan is designed for people whose state of health is relatively good.

Simplified elite life insurance has two options, namely: whole life (cash value) and T100 (no cash value). For each of these options, the insured must be between 18 and 80 to be eligible for the plan. The maximum face amount depends on your age, it is $500,000 for people below 61 and $350,000 for people between 61 and 80.

Options and Features Available in the Simplified Elite Life Insurance

The major difference between the two plan options is the minimum face amount for each option. For the Whole Life option, the minimum face amount for insured less than 61 is $10,000 and it is $5,000 if the insured is 61 and above. The minimum face amount is $25,000 irrespective of the Insured’s age in the T100 option.

  • The insured’s age determines his minimum and maximum face amount for the two options included in the plan. Generally, the face amount becomes smaller with the insured’s age.
  • The plan attracts an optional accidental death benefit irrespective of the option you choose and your age.
  • You also benefit from the child term benefit, an optional benefit, irrespective of your age and the option you choose.
  • You have an option to obtain child term and cash hospital benefit no matter your age and the plan option.
  • You are guaranteed terminal illness benefit and transportation benefit for any option you choose and irrespective of your age.

Ask your Broker about CPP Simplified Elite Life Insurance Quotes and Compare!

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