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ivari Critical Illness Insurance Review

by Mark Cluett
4 min read

This ivari Critical Illness Insurance review includes our ratings as well as details about ivari’s Critical illness product, its features, and coverage terms.

For more company reviews, head here to read about the best critical illness insurance companies in Canada.

Best Critical Illness Insurance for Bundling

ivari

Ivari

A+

AM Best
financial strength rating

PolicyAdvisor.com Rating

Best Critical Illness Insurance for Bundling

ivari

Ivari

A+

AM Best
financial strength rating

PolicyAdvisor.com Rating

ivari Critical Illness Insurance Review

If you’re the type to keep all your services with one company, ivari’s critical illness insurance is for you. You can add $2 million in critical illness coverage as a rider to an existing life insurance plan and save up to 15% on your premiums. Brand loyalty pays off with ivari insurance!

Pros

  • Discounts for bundling services
  • Comprehensive conditions covered (25 full payout illnesses)
  • Children’s coverage available

Cons

  • No limited pay options
  • No second option
  • No whole life coverage
Product NameCritical Illness
Critical Illness coverageBasic and Enhance coverage
Available Terms10 and 20 years and to age 65
Limited Pay optionNone
Maximum coverage
Up to $2-million
Conditions coveredEnhanced - 25 conditions, Basic - 4 conditions
Loss of Independent Existence coverageYes
Partial payout conditions4 Eligible Conditions
Partial payment or early detection paymentYes. 15% up to $50,000. Payable once.
Childhood illnesses coverageOption is available
Survival period30 days
Return of Premium on deathYes
Return of Premium on expiry/cancellationNo
Second optionNo
Electronic applicationYes
Online account accessNo

Who is ivari?

Known as Transamerica Life Canada until 2015, the company rebranded to ivari when acquired by new ownership (the Canada Pension Plan Investment Board, through Wilton Re). ivari matches employee charitable donations and their own efforts focus on the health and well-being of children with programs and donations helping indigenous youth, those with medical conditions, and more. They just hope you don’t get them mixed up with another ivari. 

Does ivari sell critical illness insurance?

Yes, ivari does sell critical illness insurance; it is named – quite simply – Critical Illness. They offer basic (4 conditions) and enhanced (25 conditions) coverage.

What critical illness insurance coverage and terms does ivari offer?

ivari’s maximum coverage for critical illness insurance is $2-million. 

They offer coverage for loss of independent existence. They offer partial payouts for 4 different conditions. The payout is typically 15% of the policy up to $50,000, and partial payments can only be claimed once during the coverage period.

The survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.

ivari offers critical illness insurance for 10-  and 20-year terms or coverage up to 65 years of age.

There are no limited-pay options available.

Does ivari’s critical illness insurance offer a return of premiums?

No, ivari is one of the few critical illness insurance providers that offer no options for return of premiums.

How do I apply for ivari’s critical illness insurance?

You can apply for ivari’s critical illness insurance using the best online life insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for ivari’s critical illness insurance.

The information above is a brief representative summary for indicative purposes only. It does not include all terms, conditions, limitations, exclusions, termination and other provisions of the policies described, some of which may be material to the policy selection. Please refer to the actual policy documents for complete details. In case of any discrepancy, the language in the actual policy documents will prevail. A.M. Best financial strength ratings displayed above are not a warranty of a company’s financial strength and ability to meet its obligations to policyholders.

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