Critical illness and sickness insurance
Protect your finances when life takes a turn
Understanding critical illness insurance
What is critical illness insurance?
Critical illness insurance is a type of insurance that provides one-time monetary benefits to you should you suffer a serious illness such as a stroke, heart attack or cancer. It can help cover daily expenses, fund alternative treatments or pay for a caregiver. You can’t always prevent serious illness, but you can help protect your loved ones from a financial burden.
What conditions does critical illness insurance cover?
Critical illness insurance typically covers serious health conditions like cancer, heart attacks and strokes, although some plans might also cover kidney failure or major organ transplant. Covered conditions can vary depending on your policy, so you should always review your certificate of insurance for the complete list.
What is not covered by critical illness insurance?
Critical illness coverage is limited by the specific conditions outlined in a policy. Depending on the plan, coverage might also be limited if a diagnosis occurs during a waiting period if there is one, or if any other requirements aren’t met.
How critical illness insurance can help you
Critical illness insurance gives you the security of a financial cushion in case of a serious illness. The claims process is designed for speed and compassion, and the claim is typically paid in a lump sum you can spend on anything you need.
Maintaining daily expenses
Use the money to pay household bills, mortgage payments and more.
Accessing alternative treatments
Gain the financial freedom to explore alternative medical treatments.
Supplementing provincial health plans
Cover healthcare expenses excluded by your provincial plan.
Paying for a family caregiver
Cover a family member’s expenses while they care for you.
Critical illness coverage options and benefits
Covers serious conditions
Paid in a lump sum you can use however you choose
Coverage can be extended to a spouse or dependent children
Some plans offer guaranteed acceptance
How to apply for critical illness and sickness insurance
Critical illness plans can be purchased through one of our trusted distribution partners. Get connected now – our user-friendly platforms make it easy to find the plans you need and apply for coverage.
- Explore your coverage options.
- Complete an application.
- Your application will be reviewed based on plan eligibility and underwriting requirements.
- Once approved your coverage will begin.
If you have any questions about how to apply, reach out and we’ll be happy to help you.
FAQs
Who typically needs critical illness insurance?
Critical illness insurance may be worth considering if a serious illness such as cancer, heart attack or stroke would make it difficult to pay day-to-day expenses or any unexpected costs that arise. It can be especially helpful for homeowners, self-employed people, parents or anyone without substantial savings.
How much does critical illness insurance typically cost?
The cost of critical illness premiums varies based on a variety of factors including your age, health, whether or not you smoke, the type of policy you choose and the amount you want to cover. Typically, the higher the coverage amount, the larger the premium.
Is critical illness insurance paid monthly?
No. Critical illness insurance is paid out in a lump sum that can be used however you like.
How can critical illness insurance help if I’ve suddenly fallen ill?
If you’ve fallen ill and have been diagnosed with a covered illness like cancer, a heart attack or stroke, critical illness insurance may pay a lump sum you can use however you wish. You might choose to use it to pay rent, cover medical bills or pay for any other unexpected expenses that might arise.
How do I check, adjust or cancel my critical illness insurance coverage?
If you have any questions about your critical illness insurance including checking your coverage amount, increasing or decreasing your coverage or cancelling it, please contact us.
How do I submit a critical illness insurance claim?
Please contact our claims department to initiate a critical illness insurance claim. We’ll send you a claim package to complete and return.
Can I get a copy of my certificate of insurance?
Please contact us to get a copy of your certificate of insurance or renewal.
I quit smoking. How do I update my smoking status?
To update your smoking status, please contact us. We will send you the forms to complete and return by mail or fax.
How can I get information about my critical illness insurance premiums?
If you have questions about your critical illness insurance premiums, please contact us.
How do I update my contact information?
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