What is it?
Advances in medicine mean more people survive illnesses like cancer and stroke than ever before, but recovery may come with a significant financial cost that impacts both you and your loved ones. Critical illness insurance provides money you can use however you need while recovering from a life-altering illness.
To understand more about your risk of experiencing a critical illness, take a moment now to use our handy risk calculator.
How does it work?
If you experience a covered illness and meet the survival period, you’ll receive a tax-free lump-sum cash payment. You can use this money to help ease the financial burden associated with your recovery.
How will it benefit me?
Critical illness insurance gives you flexibility to help keep your finances on track so you can focus on your recovery. You can use the money to cover travel costs to get to treatment facilities, supplement lost wages due to time away from work and keep up with everyday expenses.
Focus on what's best for your recovery
With critical illness insurance, you don’t have the added stress of having to make difficult financial decisions to support your family. You can use the money to:
- Cover the cost of medications, medical devices and treatment not covered by provincial health plans and other benefit plans
- Access private or out-of-country medical treatment
- Bring in additional help at home for you and your family
Could a health interruption get in the way of your retirement plans? Treating a critical illness can quickly deplete your retirement savings. Critical illness insurance can provide a safety net to help protect your retirement savings, so you can still have the lifestyle you want during retirement.
Get your money back if you don't make a claim
With a return of premium option, if you don’t experience a critical illness you can get up to 100 per cent of your money back.
Talk to an expert
Not feeling confident in your finances? You can talk to one of our financial security advisors who will work with you to craft a financial plan tailored to your needs.