Critical Illness Insurance
Critical illness insurance pays a tax-free lump sum if you are diagnosed with a covered condition, such as cancer, heart attack or stroke, so you can focus on recovery instead of bills.
Who it's for
- Self-employed professionals
- Primary income earners
- People with limited savings
- Anyone wanting extra protection beyond workplace benefits
Options available
- Term critical illness plans
- Lifetime critical illness plans
- Return of premium options
- Child critical illness coverage
Common questions
What does critical illness insurance cover?
Coverage depends on the policy, but most plans include major conditions such as cancer, heart attack and stroke, plus a list of other defined illnesses.
How is it different from disability insurance?
Critical illness pays a one-time lump sum after a covered diagnosis. Disability insurance pays a monthly income if you cannot work due to illness or injury.
Can I use the money however I want?
Yes. The lump sum can be used for treatment, mortgage payments, childcare or any other expense.
Talk to Deepinder Randhawa
Licensed Insurance Professional serving Ontario. Personalized advice, no obligation.
This page is for general information only and does not constitute insurance, tax, legal or investment advice. Coverage and eligibility are subject to policy terms and provider approval.