Critical Illness Insurance
Be Ready for the Unexpected: Critical Illness Insurance that Prioritizes Your Health.
Critical Illness Insurance
Comprehensive financial protection for life’s toughest moments.
No one expects to be diagnosed with a life-altering illness—but when it happens, the financial impact can be just as overwhelming as the emotional toll. Critical Illness Insurance is designed to provide a tax-free lump-sum payment if you're diagnosed with a covered serious medical condition. This benefit helps protect your finances so you can focus fully on recovery—not bills.
This money can be used however you see fit—whether that’s for medical treatments, alternative therapies, travel for care, household expenses, rehabilitation, or even time off work for your spouse or caregiver.
What’s Covered?
- 25 Full-Payout Adult Illnesses
- 5 Full-Payout Childhood Illnesses
- 8 partial-payout illness
Most Critical Illness Insurance plans in Canada provide:
➤ 25 Full-Payout Adult Illnesses, including:
- Cancer (life-threatening)
- Heart Attack
- Stroke
- Kidney Failure
- Coronary Artery Bypass Surgery
- Major Organ Transplant
- Coma
- Blindness
- Deafness
- Paralysis
- Loss of Speech or Limbs
- Parkinson’s Disease
- Alzheimer’s Disease
- Multiple Sclerosis
- Aortic Surgery
- Motor Neuron Disease
- Severe Burns
- Occupational HIV
- Aplastic Anemia
- Loss of Independent Existence (and more, depending on your provider)
➤ 5 Full-Payout Childhood Illnesses:
- Cerebral Palsy
- Cystic Fibrosis
- Muscular Dystrophy
- Type 1 Diabetes Mellitus
- Congenital Heart Disease (coverage available up to age 24)
➤ 8 Partial-Payout Conditions:
These are typically less severe illnesses eligible for a 15% payout (up to $50,000). Each can be claimed once, for a total of up to 4 conditions.
Examples include:
- Stage 1 prostate cancer
- Early-stage breast cancer (DCIS)
- Stage 1A melanoma1
- Chronic Lymphocytic Leukemia (Stage 0)
- Angioplasty
- Thyroid cancer (Stage T1)
- Gastrointestinal stromal tumors (AJCC Stage 1)
- Grade 1 neuroendocrine tumors
Key Features & Benefits
One-time tax-free payout on diagnosis of a covered illness
No restrictions on how you use the money
Available for individuals, couples, and children
Coverage up to age 75, with some policies offering optional lifetime coverage
Return of Premium on Maturity (ROPM) – If no claim is made by the end of the term, your premiums are refunded
Return of Premium on Death (ROPD) – If the insured passes away without making a claim, premiums are refunded to the beneficiary
Free second medical opinion services available through most plans
Can be bundled with Life or Disability Insurance for a complete safety net
Why This Coverage Matters
- Government health plans don’t cover everything—many treatments, medications, and travel costs are out-of-pocket
- A major illness could mean months off work , affecting your household income
- A spouse or caregiver may also have to reduce work hours to support you
- Financial support during a health crisis allows you to choose the best care , not just the most affordable
- It helps protect your savings, retirement funds, and family lifestyle from disruption
Who Should Consider This Insurance?
- Self-employed or freelance workers without group benefits
- Families with dependents or a single income
- Anyone with a family history of serious illness
- Individuals who want to protect savings and avoid dipping into RRSPs or investments during a health emergency
- Parents wanting to insure their children for future health risks
Let’s help you choose the right critical illness plan.
We work with Canada’s leading insurance providers to find coverage that matches your budget, health profile, and family needs . Whether you’re looking for basic protection or a comprehensive plan with return-of-premium features, we’ll help you get the right coverage—without the stress.