Best critical illness insurance companies in Canada – 2025

Assumption Life Critical Illness Insurance Review

Our Assumption critical illness insurance rating

We’ve given Assumption a 4 star for their critical illness insurance plans. With 16 illnesses covered, this is a great, simple option for someone looking to cover the basics, with a few optional bells and whistles too.

Assumption critical illness insurance plan overview

The maximum amount of coverage (aka sum insured) offered by Assumption Life’s Critical Protection insurance policy is lower than its rivals. However, it does offer enhanced products, including a Return of Premium Upon Death rider as well as a Flexible Return of Premiums rider. Also, although this product is fully underwritten, Assumption Life does not automatically require a medical exam for all levels of coverage.

Beneva Critical Illness Insurance Review

Our Beneva critical illness insurance rating

We’ve given Beneva a 4 star review because of their comprehensive coverage and mutual organization offerings. If community involvement and corporate responsibility are important to you, Beneva 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.

Beneva critical illness insurance plan overview

Beneva’s maximum coverage for critical illness insurance is $2 million. They offer coverage for up to 25 critical conditions, but only offer partial payouts for 4 non-life-threatening conditions (less than other companies). The payout for partial conditions is typically 10% of the policy, up to $50,000. Beneva also offers coverage for 3 additional childhood illnesses.

BMO Critical Illness Insurance Review

Our BMO critical illness insurance rating

We give BMO a 5 star because it’s the best coverage on the market for an affordable price. As one of Canada’s largest financial institutions, BMO can take advantage of its heft and economies of scale to offer clients comprehensive, customizable critical illness coverage at the best prices through its Living Benefit suite of products.

BMO critical illness insurance plan overview

BMO offers coverage for 25 life-threatening medical conditions for up to $2 million, as well as 7 partial payout conditions for up to $50,000. Available terms include 10 years, 20 years, or up to age 75 or 100.

Canada Life Critical Illness Insurance Review

Our Canada Life critical illness insurance rating

If you are sparing no expense, Canada Life’s plans offer something for everyone. Most coverage terms, riders, child policies, and all the other bells and whistles of a CI insurance policy can be had through Canada Life’s LifeAdvance – at a price, of course. It’s the Uber Black of the category.

Canada Life Critical Illness Insurance plan overview

Canada Life’s maximum coverage for critical conditions is $3 million (one of the highest coverage amounts offered in Canada). It covers 25 critical illnesses, plus the option to add one more. The plan also offers partial payout for 8 conditions up to $50,000. Term options include 10- and 20-year terms or coverage up to age 75, or permanent options with 15 or 20 Pay, or Pay to 100.

Desjardins Critical Illness Insurance Review

Our Desjardins critical illness insurance rating

We give Desjarins a 5 star rating because they offer the most number of conditions covered on the market. Desjardins’ Health Priorities product offers prospective clients a lot of choice in coverage and term. It covers more illnesses for partial payment than most other companies in Canada. However, partial payments count as an advance against your overall payout.

Desjardins critical illness insurance plan overview

Desjardins critical illness insurance plans include up to $3,000,000 for 26 conditions and generous partial payout for 16 conditions for 10, 20-year terms, or up to 65/75 years of age. Children’s illnesses are included in their plans as well.

Equitable Life Critical Illness Insurance Review

Our Equitable Life critical illness insurance rating

We’ve given Equitable Life of Canada a rating of 4 stars for their coverage options that include childhood illnesses. This product is great for parents looking to match their coverage to how long they’ll have dependents in their care.

Equitable Life critical illness insurance plan overview

Equitable Life’s maximum coverage for critical illness insurance is $2 million. They cover 26 different illnesses and conditions and they also offer additional coverage for 5 childhood illnesses and coverage for loss of independent existence. Coverage term lengths include 10 years and to age 75 or 100.

Foresters’ Critical Illness Insurance Review

Our Foresters’ critical illness insurance rating

We’ve given Foresters a 4 star review because of their built-in features! Foresters has refreshed their critical illness insurance offering and made a strong move up the charts. They now offer both basic (Live Well) and enhanced (Live Well Plus) critical illness insurance that covers 4 and 25 illnesses respectively. They include return-of-premium rider as standard; however, the time for return-of-premium on cancellation is very long (starts at Year 20). This means you get your money back if you don’t claim after the 20 year term.

Foresters’ critical illness insurance plan overview

Foresters offers up to $2 million in coverage for up to 25 conditions. They offer partial payouts for 8 different conditions, and they can be claimed twice. The payout is typically 15% of the policy up to $50,000, and partial payments can be claimed once during the coverage period (which reduces the final benefit). They offer terms of 10 years, 20 years, and uniquely up to age 80.

Humania Critical Illness Insurance Review

Our Humania critical illness insurance rating

We’ve given Humania a 4-star review because they offer policies that offers the most comprehensive coverage for children. Humania’s Children360 critical illness covers 37 conditions, including several that are specific to children. Humania also offers a compassionate allowance for grieving parents if that unfortunate situation does occur.

Read our full Humania review.

Humania critical illness insurance plan overview

Humania offers the most number of conditions covered if you include the childhood illnesses. They offer 25 critical conditions, 7 childhood illnesses, but only partial payouts for 3 non-life-threatening conditions. However, they have many term options such as 10, 15, 20, 25, 30 years and up to age 75.

Industrial Alliance (iA) Critical Illness Insurance Review

Our iA critical illness insurance rating

We’ve given iA a perfect score for their critical illness insurance plans. Industrial Alliance’s Transition plan is a great all-around critical illness insurance policy with one key differentiating factor: flexibility. With so many add-on and rider options that match or beat other companies’ offerings, Canadians can tailor-fit a critical illness policy suited to their exact needs. Policyholders also have a “reducing” option that gradually decreases the overall amount of the benefit payment over its early years until it reaches 50% of the original benefit amount. Industrial Alliance is a perfect fit for those looking to use critical illness insurance to cover mortgage payments.

iA critical illness insurance plan overview

Industrial Alliance’s has critical illness insurance plans with up to 25 critical conditions and well as 5 childhood illnesses and 7 partial payments for non-life-threatening conditions. The maximum coverage payout is $2.5 million and the standard $50,000 for partial payouts. Terms offered include, 10, 12, and 25 year terms or coverage up to 75 or 100 years of age.

ivari Critical Illness Insurance Review

Our ivari critical illness insurance rating

We give ivari 4 stars because you can bundle and save! 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!

ivari critical illness insurance plan overview

ivari’s maximum coverage for critical illness insurance is $2-million for up to 25 conditions as well as $50,000 for 4 partial conditions. There are options to add childhood illnesses onto the policy coverage for an extra fee. Term options include 10, 20 years or up to age 65.

Manulife Critical Illness Insurance Review

Our Manulife critical illness insurance rating

We give Manulife a 4-star rating for their critical illness insurance. The Big Mac, Coke, and fries of critical illness insurance — Manulife’s Lifecheque is the combo to beat. With a good mix of coverage and term lengths backed by one of the most trusted names in insurance, no wonder Manulife is synonymous with financial protection.

Manulife critical illness insurance plan overview

Manulife’s critical illness insurance provides coverage up to $2 million and offers partial payouts for six different conditions. The payout is typically capped at $50,000 and is payable once during the lifetime of the policy. They offer coverage for 10- and 20-year terms, with options for individuals up to 65 or 75 years of age, as well as permanent coverage.

RBC Critical Illness Insurance Review

Our RBC critical illness insurance rating

We’ve given RBC a 4-star rating because of their long term care combo plan. With Canadians living longer than ever, those shopping for critical illness insurance may also have long-term care on their minds. Fortunately, RBC Insurance has the market cornered on those keeping their eye on Father Time. Policyholders can convert their coverage into payments for long-term care when they are older without additional proof of insurability.

RBC critical illness insurance plan overview

RBC’s critical illness insurance offers a maximum coverage of $2 million and includes coverage for loss of independent existence as an additional rider. They provide partial payouts for seven different conditions, typically amounting to 10% of the policy up to $50,000, payable once during the policy’s lifetime. However, RBC does not offer coverage for childhood illnesses. RBC offers critical illness insurance for 10-year terms or coverage up to 65 or 75 years of age.

Sun Life Critical Illness Insurance Review

Our Sun Life critical illness insurance rating

We give Sun Life a 4/5 star review due to their large brand recognition in the insurance industry. Sun Life is another well-established name in critical illness insurance. Their size and history mean they offer some of the best, most comprehensive coverage for CI except for one key factor: you must submit your application by paper and fully hand-written. For that reason alone, we can’t award Sun Life full marks.

Sun Life critical illness insurance plan overview

Sun Life offers critical illness insurance with enhanced coverage for 26 conditions and standard coverage for 1, 3, or 7 conditions, including dependent children. Their maximum coverage is $2.5 million, with partial payouts for eight different conditions and the option for four partial claims during the coverage period, limited to one claim per condition. Sun Life also covers five additional childhood illnesses and provides insurance for 10-year terms, coverage up to age 75, and permanent coverage.