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Critical Illness Insurance
Lump-sum cash if you're diagnosed with a serious illness
⚠️ No active Critical Illness Insurance policy found in your records
💬 What is it?
If you're diagnosed with cancer, have a heart attack, or suffer a stroke, critical illness insurance pays you a tax-free lump sum — often $50,000–$500,000 — to use however you need: pay off debt, take time off work, or access better treatment.
🇨🇦 Why do Canadians need it?
1 in 2 Canadians will be diagnosed with cancer in their lifetime. Medical recovery involves hidden costs: private clinics, travel, home care, and lost income that provincial health care doesn't cover.
Coverage Details
💰 Typical Cost
$50–$300/month depending on age, health, and coverage amount
🛡️ Coverage Range
$25,000–$2,000,000
Available Types
Basic (3 conditions)Comprehensive (25+ conditions)Return of Premium on Death/Expiry
Key Factors to Compare When Shopping
- ✓ Number of covered conditions (cancer, heart attack, stroke minimum)
- ✓ Survival period (typically 30 days post-diagnosis)
- ✓ Return of premium option
- ✓ Partial benefit conditions
- ✓ Non-cancellable vs. guaranteed renewable
Top Canadian Providers
Manulife
Sun Life Financial
Canada Life
RBC Insurance
Industrial Alliance
Empire Life
Equitable Life
Desjardins
BMO Insurance
TD Insurance