SSQ Critical Illness Insurance Review – Updated 2024


SSQ Insurance (now Beneva) presents two critical illness insurance options: basic (3 conditions) and enhanced (25 conditions). They’re competitive in regard to comprehensive coverage, easy-to-understand application processes, and term options (10, 20, 25, or coverage up to 75 or 100). Additional coverage includes children’s coverage and partial payment for up to 4 conditions, but no long-term care conversion plans.


As of January 2023, SSQ Insurance has merged with La Capitale to form Beneva Insurance Company. This merger makes it one of the largest life insurance companies in Canada.

Learn more and read our full Beneva Critical Illness Insurance Review here.

SSQ Critical Illness Insurance rating and review

SSQ (operating as Beneva, as of January 2023) 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.

PolicyAdvisor Rating

Best Critical Illness Insurance For Those Seeking A Mutual

AM Best Rating A-


Pros and cons


  • 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
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Who is SSQ?

SSQ was one of Canada’s youngest insurance companies, having started in 1944 in Quebec. The company was founded on mutualist values; all policyholders were able to become co-owners and actively participate in the business direction of SSQ as it strove to adhere to its values of solidarity, equity, responsibility and equality.

In 2020, SSQ Life Insurance Company Inc and Québec-based insurance provider La Capitale announced a merger of their businesses. As of January 2023, they are operating under Beneva Insurance, still with the mutualist values of the two companies that formed its roots. The merger creates the largest mutual insurance company in Canada with significant scale and market access.

Read more about what happened to SSQ Insurance.

Types of critical illness insurance policies SSQ offers

Yes, SSQ does sell critical illness insurance. They offer basic (3 conditions) and enhanced (25 conditions) plans, as well as coverage for dependent children.

Coverage and policy details

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- and 20-year terms or coverage up to 75 or 100 years of age.

Limited-pay options are available; a 20 Pay option is available for permanent policies.

Product Name Critical Illness
Critical Illness coverage Basic, enhanced, and children’s coverage
Available Terms 10, 20 years and to age 75 or 100
Limited Pay option Yes, 20 Pay option for permanent 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
Second option No
Electronic application Yes
Online account access Yes

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Does SSQ’s critical illness insurance offer return of premiums?

Yes, SSQ offers return of premiums on death, and they offer return of premium on expiry or cancellation of the policy after 20 years or when the policyholder turns 55.

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

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.

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Call us at 1-888-601-9980 or book time with our licensed experts.
By Jiten Puri
CEO & Founder, Insurance Advisor, LLQP
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