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Critical illness insurance made easy

I want critical illness insurance to:

We work with trusted Canadian insurers

Assumption Mutual Life Insurance Company
BMO Life Assurance Company
The Canada Life Assurance Company
The Canada Life Assurance Company
The Empire Life Insurance Company
Equitable Life Insurance Co of Canada
Foresters Life Insurance Company
Humania Assurance Inc.
L'Excellence Life Insurance Company
Industrial - Alliance Life Insurance
ivari
La Capitale
The Manufacturers Life Insurance Company
RBC Life Insurance Company
SSQ Insurance Company Inc.
Wawanesa Life Insurance Company

What Is Critical Illness Insurance?

Pays out a lump sum cash payment if you get diagnosed with any of the serious illnesses covered by the plan. You have flexibility to use the cash any way you want - to help you cope with the financial and emotional stress associated with a serious illness.

Here are some of the things it can help with:

Medical expenses

medical
  • Deductibles and co-pays
  • Prescription medicines
  • Upgraded medical facilities
  • Alternative treatment options

Non-medical expenses

non medical
  • Replace lost income for self or spouse
  • Homecare / home modification
  • Debt repayments
  • Travel and transportation costs

Protection Against Your Life's Biggest Risks

Critical illness insurance protects against loss from serious illnesses including* :

Cancer

Cancer

1 in 2 Canadians will be diagnosed with Cancer in their lifetime.

Heart attack

Heart Attack

1 in 4 Canadians will contract
some form of heart disease

Stroke

Stroke

50,000 Canadians suffer
a stroke every year

Kidney failure

Kidney Failure

1 in 10 Canadians has kidney disease

Multiple Sclerosis

Multiple Sclerosis (MS)

Canada has one of the highest rates of MS in the world

Alzheimers

Alzheimer's / Dementia

1.1 million Canadians are directly or indirectly affected

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How Much Coverage Do You Need?

We've listed the most common ways your finances can be affected. Adjust the sliders to estimate the coverage amount you may need.

Additional Info
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A serious illness with recovery lasting months could impact your finances by today and by in 10 years.

You may not need Critical illness insurance. Please contact us so we can help you with your unique circumstances

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  • We assume an inflation rate of 2%
  • For healthcare-related expenses, we assume an inflation rate of 4%
  • Results are displayed in multiples of $1,000 and rounded to the next $1,000
  • The results from this calculator are illustrative and for information purposes only. Your critical illness coverage needs will depend on your unique circumstances
Assumptions

How PolicyAdvisor Works

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    We find the perfect policy

    We ask a few questions, crunch some numbers and compare the top insurers. We offer the lowest rates available specifically for you.

  • two by three 2

    We give advice

    Not sure which provider to pick? We have comparison tools, advice articles and a team of insurance brokers you can call or chat with.

  • three by three 3

    We get you covered

    Once you pick a policy, we help you dot every i and cross every t so you can submit your application with complete confidence.

Common questions

Critical illness insurance is an agreement between you (the policyholder) and an insurance company, where you'll receive a one-time lump-sum cash payment if you are diagnosed with one of the severe illnesses covered by your policy. In exchange, you pay a periodic sum of money, usually monthly, called a premium.

Canadians are incredibly susceptible to critical illnesses. Critical illness insurance helps to protect you and your family from the financial fallout related to getting critically sick. If you have dependents and you are one of the breadwinners in your family, you should seriously consider critical illness insurance. Read our Honest Guide to Critical Illness Insurance to get the complete picture on Canadians’ overall needs for critical illness insurance.

Critical illness insurance can cover a long list of diseases and medical conditions, so long we won’t print it here. Head over to this link to see the full list of 26 common illnesses, conditions or health events that can be covered by critical illness insurance.

Different policies have different coverage criteria: basic coverage policies can cover up to 4 critical illnesses; enhanced policies can cover over 20 illnesses. Check out our online comparison tool that helps you compare critical illness insurance quotes and find the differences between illnesses covered under various policies.

Several factors determine the cost of critical illness insurance. Some relate to the individual seeking coverage, such as their age, smoking status, gender, health, lifestyle and more. Other factors are policy dependent, such as the amount of coverage, the term length, and the number of illnesses covered.

Our simple online critical illness comparison tool can help you compare critical illness insurance quotes in minutes.

We built an online critical illness insurance comparison tool that lets you compare critical illness insurance quotes across companies and products. It also lets you compare financial indicators and the financial strength of an insurance company, and the product features that are best suited for you.

There are several established Canadian insurance companies that provide critical illness insurance. We work with some of the best insurance companies in the country and have done extensive research amongst them so that you can compare and obtain the best critical illness insurance. Our critical illness insurance reviews help you make the right choice.

There are many personable variables that go into determining how much critical illness insurance one should buy. Give our critical illness calculator a try – it shows the different variables that go into pricing critical illness insurance. That said, only buy what you can afford. A lapsed policy protects no one!

What Our Experts Are Saying

*Disease stats listed above are sourced from Canadian Cancer Society, Heart and Stroke Foundation of Canada, Kidney Foundation of Canada, MS Society of Canada, and Alzheimer Society Canada.