Canada Protection Plan – established in 1992 – is a privately-owned Canadian insurance intermediary that provides simplified, no-medical life insurance and other related products. Both Canada Protection Plan’s term and whole life insurance products are underwritten by Foresters Life Insurance Company, a subsidiary of Foresters Financial. This is one of North America’s oldest insurance providers, with a history that dates back to over 140 years.
Life insurance coverage does pay out for suicide.
However, there is one exception that you need to bear in mind.
Should the policyholder commit suicide during the first two years of their new policy, insurance companies will reject paying death benefits to the family.
Outside of this two-year window, the insurer treats suicidal deaths the same as those from illnesses, accidents, and other insured causes.
These are all stated in the terms and conditions of the policy.
