Critical Illness Coverage

Critical Illness Coverage is a newer insurance product offered by Canadian Insurance companies. There are many different policies and terms and conditions. Almost all Canada Critical Illness policies have three basic elements. The rest have some combination of up to 23 illnesses 

If you have critical illness and are diagnosed with any one of the following illnesses, you will receive a lump some of tax free money. This is common among all Canada Life Insurance companies. The range of coverage is from $10,000 to $2,000,000 

Basic policies include * 
Heart Attack 
Cancer 
Stroke 

*Keep in mind that there are limitations, terms and conditions in all insurance policies, Critical Illness is no different 

Expanded policies include some or all of the following* 
Multiple Sclerosis 
Coronary Bypass Surgery 
Aorta Graft Surgery 
Heart Valve Surgery 
Major Organ Transplant 
Parkinson’s Disease 
Kidney failure 
Paralysis/Paraplegia 
Benign Brain Tumour 
Coma 
Blindness in Both Eyes 
HIV 
Loss of Hearing 
Loss of Speech 
Loss of Limb 
Motor Neuron Disease 
Severe Burns 
Pre Senile Dementia (Alzheimer’s) 
Loss of Independent Existence

Getting good advice from an insurance broker can help you find a plan that fits your budget, has good coverage, and less limitations.

Learn about

Critical Illness policies 

Critical illness insurance can be used to protect your mortgage as well. Do you have mortgage insurance through the bank? Click here to read about mortgage life insurance 

Compare life insurance quotes.

It is also recommended that you look at long term disability insurance. Critical Illness is not the same as long term disability insurance 

Read about the invention of Critical Illness Coverage 

Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.

Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind.  Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.

Always speak with a licensed insurance representative about your specific situation.

This site is general in nature and there may be errors or ommissions

Please Read

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