This SSQ Critical Illness Insurance review includes our ratings as well as details about SSQ 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.
SSQ Critical Illness Insurance Review
SSQ offers critical illness insurance with features that compete well with the best plans in Canada. Their youth shows in their easier to understand digital materials and website. If community involvement and corporate responsibility are important to you, SSQ might be your first choice. The company is run as a mutualist democracy, which you enter into once you purchase the policy, and thus have a small say in how they are run.
- Variety of terms available
- Large coverage amounts and conditions covered (25 conditions)
- Lifetime coverage and limited pay options available
- Return of premium options are available
- Children’s coverage available
- Only 4 partial conditions covered, payable once
- No long term care conversion option
- Return of premium riders are expensive
|Product Name||Critical Illness|
|Critical Illness coverage||Basic, enhanced, and children’s coverage|
|Available Terms||10, 20, and 25 years and to age 75 and 100|
|Limited Pay option||Yes, on age 100 coverage|
|Maximum coverage||Up to $2-million|
|Conditions covered||Enhanced - 25 conditions, basic - 3 conditions|
|Loss of Independent Existence coverage||Yes|
|Partial payout conditions||4 Eligible Conditions|
|Partial payment or early detection payment||Yes, 10% up to $50,000|
|Childhood illnesses coverage||Yes, 3 additional childhood illnesses covered.|
|Survival period||30 days|
|Return of Premium on death||Yes|
|Return of Premium on expiry/cancellation||Yes, after 20 years or at age 55|
|Online account access||Yes|
Who is SSQ?
SSQ is one of Canada’s youngest insurance companies, having started in 1944 in Quebec. The company was founded on mutualist values; all policyholders become co-owners and can actively participate in the business direction of SSQ as it strives to adhere to its values of solidarity, equity, responsibility and equality.
What critical illness insurance coverage and terms does SSQ offer?
SSQ’s maximum coverage for critical illness insurance is $2-million.
They offer coverage for loss of independent existence as an additional rider. They offer partial payouts, but for only 4 different conditions. The payout is typically 10% of the policy up to $50,000.
SSQ also offers coverage for 3 additional childhood illnesses.
The survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.
SSQ offers critical illness insurance for 10-, 20-, and 25-year terms or coverage up to 75 or 100 years of age.
Limited-pay options are available for the 100-years-of-age term.
You can apply for SSQ’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 SSQ’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.