Critical Illness
Critical illness insurance benefits:
The benefits you receive are not taxable
You do not need to justify how you spend the money—you can use it as you see fit
It helps you cover additional expenses caused by the illness (medications, adapted equipment, experimental treatments not covered by public health insurance, rehabilitation costs and other private medical expenses)
It helps you cover your financial commitments if you experience a decrease or loss of income
You can use the money for home care for you and your family, such as meal preparation and homework help
You can use the money to provide some financial flexibility as you recover so that you can work part time or extend your sick leave to take some time for yourself
What is critical illness insurance?
Being diagnosed with an illness is something that can have a negative impact on your personal and family finances. Critical illness insurance provides you with financial assistance so you can maintain your standard of living and focus on what matters—recovery.
Our products cover the critical illnesses that affect Canadians the most. If you are diagnosed with a critical illness that is covered by your policy, you will receive a tax-free lump sum payment to help you cover the costs of the illness. You can use the money as you see fit, without having to justify how you spend it!