Critical illness insurance
Critical illness insurance pays a lump‑sum benefit if you are diagnosed with a covered condition (cancer, heart attack, stroke, etc.), helping you manage expenses and lost income during recovery.
The reality of critical illnesses in Canada
565
cancer diagnoses / day
This represents more than 200,000 new cases per year in Canada.
75 %
of deaths linked to serious illnesses
Combining cancer and cardiovascular disease, these causes represent nearly half of all deaths in the country.
1 sur 10
Canadians live with a serious illness
And nearly 10% of Canadians act as caregivers for someone living with a serious illness.
How can the lump‑sum benefit be used?
- Pay for treatments or medications not covered by public or group plans.
- Offset lost income during your recovery period.
- Adapt your home or vehicle to your new needs.
- Provide a financial cushion so you can focus on your health.
Critical illness insurance is not there to pay your doctor, but to protect your finances while you focus on getting better.
Who is this coverage for?
Recommended for families, self‑employed workers, and anyone who wants to protect their finances in case of a serious diagnosis. It complements life insurance and disability insurance.
Client examples
Critical illness insurance — Child
Profile: Sophie and Marc purchased a critical illness policy for their son Lucas when he was 5 years old.
Situation: At age 9, Lucas was diagnosed with leukemia and had to undergo several months of treatment.
Result — thanks to critical illness insurance:
- ✔They received a lump‑sum payment of $50,000
- ✔Marc was able to take time off work to be with his son
- ✔The funds helped cover travel, some treatments, and family expenses
The amount could be used freely, according to the family’s needs.
Critical illness insurance — Adult
Profile
- Pierre, 45
- Works as an electrician
- Annual income: $70,000
- Married with two children
Concern: Pierre knows that some serious illnesses (cancer, heart attack, stroke) can prevent someone from working for a long time. He wanted to make sure he had a financial cushion if that ever happened.
Solution: Pierre takes out a critical illness policy with $100,000 of coverage, paid as a lump sum if he is diagnosed with a covered condition.
Several years later: At 52, Pierre is diagnosed with cancer and must follow several months of treatment.
Result — Pierre receives a lump sum of $100,000:
- ✔Replaces part of his lost income
- ✔Covers some medical and travel expenses
- ✔Pays for family expenses during his treatment
- ✔Reduces financial pressure so he can focus on recovery