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Humania Critical Illness Insurance Review
Humania Assurance is the most comprehensive critical illness insurance provider, offering coverage for up to 37 conditions, including several specific to children. Within their product line, you can choose basic (4 conditions) or enhanced (25 conditions) for coverage up to $1 million, with partial payouts for 3 conditions and options for Child Rider (7 additional conditions).
Product
Term Critical Illness
POLICYADVISOR RATING
Best Critical Illness Insurance for Children
Humania Critical Illness Insurance rating and review
If you’re looking for a policy that offers the most comprehensive coverage that also includes children, Humania is the company to beat. 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.
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Pros and cons
Pros
- Comprehensive conditions covered (25 full payout illnesses)
- Multiple coverage terms available
- Child product (Children360) with 37 covered conditions
- Parental compassionate allowance
- Return of premium options
- Digital e-policy
Cons
- Limited partial payment benefit (only 3 covered conditions)
- No online access
Who is Humania?
With a history dating back to 1874, when it was founded by a Catholic bishop, this Quebec-based company spun off its insurance business in 2012 and rebranded as Humania Assurance. The company is an active member of SOCODEVI (société de coopération pour le développement international) which brings cooperative, sustainable job creation to global developing communities.
Types of critical illness insurance policies Humania offers
Humania offers critical illness insurance. It is aptly named Term Critical Illness and is available with basic (4 conditions) or enhanced (25 conditions) coverage.
Coverage and policy details
Humania’s maximum coverage for critical illness insurance is $1-million.
They offer coverage for loss of independent existence. They offer partial payouts for 3 different conditions. The payout is typically 10% of the policy up to $10,000, and partial payments can be claimed four times during the coverage period.
Humania survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.
Humania offers critical illness insurance for a 10-, 15-, 20-, 25-, and 30-year terms or coverage up to 75 years of age.
There are limited-pay options available only for permanent coverage.
| Product Name | Term Critical Illness |
|---|---|
| Critical Illness coverage | Basic and Enhanced Coverage |
| Available Terms | 10, 15, 20, 25, and 30 years and to age 75 |
| Limited Pay option | None |
| Maximum coverage | Up to $1-million |
| Conditions covered | Enhanced – 25 conditions, Basic – 4 conditions |
| Loss of Independent Existence coverage | Yes |
| Partial payout conditions | 3 Eligible Conditions |
| Partial payment or early detection payment | Yes, 10% up to $10,000. Payable up to 4 times. |
| Childhood illnesses coverage | 7 childhood illness covered |
| Survival period | 30 days |
| Return of Premium on death | Yes |
| Return of Premium on expiry/cancellation | Yes. Available after the 15th year of coverage or age 65 |
| Second option | No |
| Electronic application | Yes |
| Online account access | No |
| Electronic policy delivery | Yes |
Does Humania critical illness insurance offer a return of premiums?
Yes, Humania offers a return of premiums on death and a return of premium on expiry or cancellation of the policy after its 15th year or when the policyholder turns 65.
How do I apply for Humania’s critical illness insurance?
You can apply for Humania’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 Humania’s critical illness insurance.
The information above is intended for informational purposes only and is based on PolicyAdvisor’s own views, which are subject to change without notice. This content is not intended and should not be construed to constitute financial or legal advice. PolicyAdvisor accepts no responsibility for the outcome of people choosing to act on the information contained on this website. PolicyAdvisor makes every effort to include updated, accurate information. The above content may 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. All rights reserved.
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