Critical illness insurance

More and more people are surviving major illness. However, survival doesn’t ensure your mental and financial well-being. Help and protect your loved ones when it counts the most.

What is critical illness insurance?

In the event of a critical illness diagnosis, critical illness insurance pays you a lump sum amount that is 100% tax-free. Whether it’s cancer, stroke or heart attack, the health conditions covered are stipulated in your contract.

Here's how it works:

You choose the amount of protection.

You pay your premium.

If you are diagnosed with a critical illness, you file a claim.

You receive your payment.*

*Depending on the disease diagnosed, a waiting period may apply.

Specialized medical care and additional support

Beyond the diagnosis of serious illness, financial obligations can be a source of stress. Therefore, services adapted to your needs can promote your recovery.

The advantages of taking out critical illness insurance

1 in 3 Canadians will suffer from a serious illness that will have a significant impact on their life.
Your payment will help pay for your expenses during your recovery.
It allows you to avoid withdrawing from your RRSP or other types of investments to pay for additional medical expenses.
You can take care of yourself and focus on your recovery, knowing that the benefit paid will help you financially through this ordeal.

How much insurance do I need?

You may have to take time off work, depending on the severity of your illness. The amount of insurance needed will be determined by your current expenses, as well as any additional expenses.

Example of current expenses

Example of additional expenses

These types of expenses can give you an idea of how much protection you might need.

Our team can carry out an in-depth analysis of your needs with you and thus determine with you the amount of protection required.

If I am not diagnosed with a critical illness, what happens?

You have the option of adding a refund of premium rider to your critical illness insurance policy. Over the next 15 years, if you don’t have a critical illness, you could choose to get your money back. In this case, your policy would end.

Specialized medical care and additional support

Beyond the diagnosis of serious illness, financial obligations can be a source of stress. Therefore, services adapted to your needs can promote your recovery.

What should I choose, critical illness insurance or disability insurance?

	Critical illness insurance	Disability insurance
Payment type	One-time large tax-free payment	Monthly income replacement payment
Under what circumstances is payment made?	If you are diagnosed with a covered illness	Il you are unable to work due to injury or illness
Waiting period	No waiting period in some cases	There is usually a waiting period
Duration of protection	Protection for life	Coverage ends at 65
What can this protection be used for?	Large amounts of money that you use as you wish, for example to pay medical bills, make your mortgage payments or pay off your debts.	Pay your monthly expenses

Have any question about your finances?

Our team can answer all your questions, understand your situation and help you build a plan