Critical Illness
Critical illness insurance
A tax-free cash payout if you are diagnosed with a covered serious illness.
Critical illness insurance pays you a lump sum when you are diagnosed with a covered condition such as cancer, a heart attack, or a stroke. The money is yours to spend however you need — on treatment, time off work, or keeping the household running.
Get early accessHow critical illness works
You choose a coverage amount when you apply. If you are later diagnosed with a covered condition and survive the short waiting period, you receive the full amount as a single tax-free payment.
Unlike disability insurance, the payout is not tied to your income or to being unable to work — a diagnosis is what triggers the benefit.
The 44 covered conditions
Comprehensive plans cover up to 44 conditions, grouped into a few broad categories so you can see the range at a glance.
Cancers: life-threatening cancers and benign brain tumours. Heart and circulatory: heart attack, stroke, coronary bypass, aortic surgery, and heart-valve replacement. Neurological: multiple sclerosis, Parkinson’s, ALS, and paralysis. Major organ and other: kidney failure, major organ transplant, severe burns, blindness, deafness, and loss of speech.
The full list of 44 conditions and their exact definitions is set out in your policy. This overview is illustrative — coverage is subject to the terms of the issued policy.
What the payout can do
A lump sum gives you options when you need them most: paying for treatment not covered by your provincial plan, travelling for care, replacing lost income, or simply reducing stress while you recover.
There are no receipts and no restrictions — you decide how the money is used.
Sample pricing
| Profile | Coverage | Sample monthly premium |
|---|---|---|
| Age 30, non-smoker | $50,000 lump sum | $22/mo |
| Age 40, non-smoker | $50,000 lump sum | $34/mo |
| Age 50, non-smoker | $50,000 lump sum | $61/mo |
Illustrative example only — real pricing depends on age, health, and coverage amount.
How it compares
| What matters | Critical illness | Disability insurance |
|---|---|---|
| What triggers a claim | A covered diagnosis | Being unable to work |
| How it pays | One tax-free lump sum | Monthly income replacement |
| Best for | Big one-time costs and recovery | Ongoing lost income |
Frequently asked questions
Critical illness
What is 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. You can use the money for anything — treatment, bills, or time off work.
Which conditions does critical illness cover?
Comprehensive plans cover up to 44 conditions, including cancer, heart attack, stroke, multiple sclerosis, and major organ transplant. The exact list and definitions are set out in your policy.
How is critical illness different from life insurance?
Life insurance pays your beneficiaries after you die; critical illness pays you a lump sum while you are living, after a covered diagnosis. Many people hold both.
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