Critical illness

Manulife

CoverMe® Critical illness insurance

Provides a tax-free lump sum following diagnosis of one of five covered critical illnesses and satisfaction of applicable waiting requirements. It suits people seeking simple financial protection during serious illness; heart attack, stroke, coronary artery bypass surgery and aortic surgery have a 30-day waiting period.

Covered conditions

Five critical illnesses

Coverage duration

Protection to age 75

PolicyMe

Critical Illness

Provides a lump-sum payout for covered serious illnesses and selected early-stage conditions, usable for lost income or out-of-pocket costs. It suits people wanting financial support during recovery; most, but not all, covered conditions have no waiting period.

Covered conditions

44 conditions

Canada Life

Critical illness insurance

Provides a one-time tax-free payment following diagnosis of a serious condition covered by the contract. It suits people wanting money for recovery costs and expenses not covered by healthcare plans; the contract defines which conditions qualify.

Benefit

One-time tax-free payment

Desjardins Insurance

Critical illness insurance

Provides a tax-free payment following a covered diagnosis to help pay medical expenses, unexpected costs or help at home. It suits people seeking financial support during serious illness; the diagnosis must meet the definition in the policy.

Coverage amount

$10,000 to $4,000,000

Covered conditions

26 critical illnesses and conditions

BMO Insurance

Critical Illness Insurance

Provides a lump sum following a covered critical illness to help with medical costs, home care or other recovery expenses. It suits people seeking support beyond provincial healthcare; the insured must satisfy the applicable survival period before payment.

Covered conditions

25 covered conditions

Beneva

Critical Illness Insurance

Provides money that can be used for bills, home care or specialized equipment following a covered critical illness. It suits self-employed people and people supplementing group insurance; the range of illnesses covered depends on the selected option.

Return of premium

Optional; part or all of premiums depending on the option and conditions

RBC Insurance

RBC Critical Illness Insurance

Provides a one-time lump sum that can be used for lost income, debt, bills or recovery costs. It suits people wanting flexibility during serious illness; early assistance applies only to qualifying covered conditions.

Coverage amount

$25,000 to $3,000,000

Early assistance

20% of benefit amount, up to $50,000, for 8 early assistance covered conditions

Sun Life

Sun Critical Illness Insurance

Provides comprehensive critical illness protection for adults and children, including full and partial payouts for specified illnesses. It suits people seeking higher coverage amounts; an application may require a medical exam.

Coverage amount

Adults: $25,000 to $4 million; children: $25,000 to $1 million

Covered conditions

26 full-payout illnesses and 8 partial-payout illnesses; child plans cover 5 additional illnesses

TD Insurance

TD Critical Illness Recovery Plan

Provides a tax-free lump sum following an approved claim for life-threatening cancer, heart attack or stroke. It suits people seeking financial support during recovery; applicants must be Canadian citizens aged 18 to 54 and meet the stated medical-history requirements.

Coverage amount

$10,000 to $100,000

Issue ages

18 to 54