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Critical Illness

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NO MEDICAL Critical Illness Insurance

          • Up to $100,000 CI Coverage
          • Coverage on 6 Illnesses
          • Issue Ages 20 to 55
          • Coverage up to Age 75
          • Money Back Option
          • Rates Guaranteed for 10 years




Compare Critical Illness Quotes

For critical illness insurance quotes, simply complete our Critical Illness Shopper form below.  Please indicate how you wish to receive your quotes (phone or email).  Your quotes will be sent to you within 24 hours.

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 Since Critical Illness Plans vary so much from company to company and from plan to plan, We suggest you have a broker give you a custom illustration including a complete list of covered conditions.


Critical Illness Insurance

Critical Illness insurance is one of the newest and fastest growing types of insurance coverage worldwide.  We are lucky in that Canadian insurers are among the only companies left in the world who continue to offer guaranteed premiums in their contracts. 

Critical illness insurance is a form of health insurance that provides a tax-free lump-sum payment should you suffer a life threatening illness.  Plans can be set up with such benefits as a return of premium rider will will refund all premiums paid if no claims are made.

Since covered conditions vary from company to company (although many companies now have Standard CI definitions) and plan to plan, it is important that you speak to an Independent Advisor, that represents multiple companies,  who can provide a complete list of covered conditions.  There are many ways to set up a critical illness plan.   Some plans will return the premium or a portion of the premiums paid during the life of the policy if the policy matures and no claim has been paid.  Below are some case studies to show ways in which Critical Illness insurance can work for you.
 

For Parents & Grandparents

Case Study 1:  The Most Advanced Health Protection Plan for your Child

 Plan Basics:

  • Critical Illness Protection for Children 0-18 years of Age
  • Protection from up to 31 covered illnesses
  • Coverage available from $25,000 to $250,000 tax-free!
  • Premiums paid up in 20 years (starting at under $20/month)
  • At year 20, if no claim is made, you can choose to keep the coverage or WE WILL REFUND ALL OF YOUR PREMIUMS!!!

Subject: John Littleboy, Male, age 3

Coverage Amount:  $50,000

Daily Premium: $0.87

Premium Duration: 20 years

 How the plan works:  John’s parents (or grandparents) pay $0.87 per day.  Should John suffer a Critical Illness or pass away, John’s parents would receive a tax-free lump sum of $50,000 to use however they see fit.(take time off work, pay for immediate quality treatment abroad, take a healing family holiday, etc…)

If John remains healthy  for 20 years (to age 23), his parents have 2 options:

Option 1: They may choose a refund of all premiums paid and collect a cheque for $6380 tax free!!!

Option 2: They may choose to keep John’s coverage in force for the rest of his life and never pay another premium!

For New Homeowners 

Case Study 2:  Get Life and Critical Illness Protection to cover your Mortgage

Most people ceover their loans in case of death, but very few think of covering critical illnesses.  Studies show that the financial impact on a family is much greater due to illness than it is due to death.  Would you be able to keep your home if you suffered a heart attack and couldn't work for 6 months or more?  Most Canadians definitely could not. 

The Solution:  A Critical Illness Advance Rider on your Term Life Policy.

Subject:  Richard Smart, Male, age 35, Non-Smoker

Richard has a family and is the primary breadwinner while his wife stays home to raise their 2 children.  His annual salary is $60,000 and he carries a mortgage of $200,000.  He has a limited budget for insurance howver, he wants to ensure his family will be okay if something should happen to him.

Solution:  A $200,000 T10 Life policy with 25% Critical Illness Advance Rider.

Monthly Premium: $32.46

How the plan works:  If Richard should pass away, the Plan will pay Richard's wife(his beneficiary) $200,000, enough to pay off the mortgage.  If Richard suffers a serious critical illness (heart attck, stroke, cancer, etc...), We will collect a tax free benefit of $50,000 as an advance on his policy, leaaving $150,000 in life insurance remaining.  This would be enough to cover the family's expenses for at least one full year, giving richard that time to recover without the financial stress he would feel otherwise. 

 

 

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