Critical Illness Insurance

What is Critical Illness Insurance?

Critical illness insurance pays you a tax-free lump sum if you're diagnosed with a covered serious illness such as cancer, heart attack, or stroke. Unlike disability insurance, critical illness insurance gives you a one-time payment you can use however you choose — to cover medical treatments, replace lost income, pay off your mortgage, or even take time off to recover.

Key Benefits

• Tax-free lump-sum payment upon diagnosis
• Covers 20+ critical conditions including cancer, heart attack, stroke
• Use the money however you wish — no restrictions
• Available for adults and children
• Return of premium options available
• Complements your existing health and disability coverage
• Can cover experimental treatments not covered by OHIP
• Preserves your retirement savings during illness

Why Do You Need It?

Statistics show 1 in 2 Canadians will develop cancer in their lifetime, and heart disease affects over 2.4 million Canadians. Even with provincial health coverage, a serious illness can drain your savings quickly through lost income, private treatments, home care, and more.

Frequently Asked Questions