Critical Illness Insurance

Facing a critical illness is never easy and can be expensive, but with our Critical Illness Insurance, financial worries won't add to your burdens.

Doctor discussing Critical Illness Insurance with their patient.

What is Critical Illness Insurance?

Critical Illness Insurance is a specialized insurance plan designed to financially protect you in case you are diagnosed with a covered critical illness. The plan covers illnesses such as heart attack, aortic surgery, major organ transplant, and major organ failure, among others.Unlike traditional health care plans, Critical Illness Insurance pays a tax free lump sum payment if you are diagnosed with a covered condition.

This payment can be used at your discretion, allowing you to take time off work, offering you the flexibility to cover medical care costs or maintain your lifestyle during your recovery. Unlike life insurance, Critical Illness Insurance allows the policyholder to take advantage of the policy benefits during their lifetime, specifically when they need it the most. Critical Illness is available based on different Terms such as Term 10, Term 20, Term to 75 or even Term to 100. You can even get a policy with a Return of Premium after a set number of years.

Advantages of Critical Illness Insurance

Locked in rates
Shorter term
Can be cancelled anytime
Can be converted anytime

Embrace the strength of preparedness with the Advantages of Critical Illness Insurance. Beyond the obvious financial protection, it's the peace of mind that truly stands out - knowing you can maintain your lifestyle and provide for your loved ones, even in the face of serious health challenges.

  • Provides a tax-free lump sum payment upon diagnosis of a covered condition

  • Payment can be used freely, e.g., for taking time off work, covering medical costs, or maintaining lifestyle during recovery.

  • Unlike life insurance, the policyholder can utilize policy benefits during their lifetime.

  • Critical Illness Insurance comes in different terms such as Term 10, Term 20, Term to 75, and Term to 100.

  • Some policies offer a Return of Premium feature after a set number of years.

Because each policy is different, it is always advised to first consult your broker to ensure policy details.

How much Critical Insurance do you need?

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How Critical Illness Insurance Can Help You

Elderly man walking on a treadmill for recovery after a critical illness injury.

Critical Illness Insurance acts as a safety net, ensuring that you are financially protected if you are diagnosed with a life-threatening illness. The policy can help you take time off work as well as offset the costs of special treatments, recovery, and other medical expenses, allowing you to focus on your health and well-being.

At InsureBC, we pride ourselves on our commitment to providing our customers with personalized and responsive service. Whether you're applying for coverage or need assistance in navigating your insurance plan, our team is ready to help you at every step. Trust in our Critical Illness Insurance Canada services and secure your peace of mind. For more information, contact us today.

Reduce debt and other financial concerns while you cope with your illness
Replace any reduced or lost income for you and your spouse, who may wish to take time off work to care for you
Bring in additional help at home for you and your family
Consider new medical treatments and medications not covered by private or government health insurance plans

Customer Testimonials

At InsureBC, we value the relationships we build with our clients. Don't just take our word for it – see what they have to say about their experiences working with our team of expert insurance brokers.

Frequently asked Questions

Can I utilize the cash value in my Permanent Life Insurance policy to cover premiums?

Yes, one of the benefits of Permanent Life Insurance is the ability to use the accumulated cash value to pay premiums. As the policy builds cash value over time, you may have the option to tap into this value to offset premium payments. This feature provides flexibility and can help ensure that your policy remains in force even if you encounter financial challenges. However, it's important to understand the implications of utilizing the cash value, such as potential impacts on the death benefit and policy performance.

What is critical illness insurance?

Critical illness insurance is a type of coverage designed to provide financial protection when you are diagnosed with a life-threatening condition covered by the plan. This could include illnesses such as a heart attack, cancer, stroke, major organ failure, aortic surgery, or even Alzheimer's disease.

Unlike traditional health insurance, critical illness insurance in Canada offers a lump sum payment upon diagnosis of a covered condition, giving you the flexibility to manage medical care costs and other expenses during this challenging time.

Applying for coverage is straightforward and policies are available for upto age age 75, making it an integral part of your financial safety net. With InsureBC you can feel confident knowing you're financially protected against some of life's most critical health challenges.

How much coverage should I consider getting with a critical illness insurance quote?

When contemplating the amount of coverage for a critical illness insurance plan, consider your current health status, family medical history, and financial obligations. The coverage should be adequate to cover potential medical care costs and provide financial security during recovery.As a rule of thumb consider at leat one years income.

What should I consider when comparing critical illness insurance quotes?

Consider the range of covered conditions, the lump sum payment amount, the policy's terms regarding pre-existing conditions, and the cost of premiums. Also, check if the policy includes the return of premiums feature.

How much critical illness insurance do you need?

The amount of critical illness insurance needed varies based on individual circumstances, including financial responsibilities, dependents, and lifestyle. As a rule of thumb, the coverage should be sufficient to cover potential medical expenses and provide financial stability during your recovery. One years income.

Does critical illness insurance cover pre-existing conditions?

Some critical illness insurance plans may cover certain pre-existing conditions, but it typically depends on the specific policy terms and the nature of the condition

What does critical illness insurance cover?

Critical illness insurance offers coverage for a defined list of illnesses that are considered critical or life-threatening. These conditions often include heart attack, stroke, cancer, major organ transplant or failure, aortic surgery, Alzheimer's disease among others. The insurance is designed to deliver a lump sum payment within 30 days of being diagnosed with a covered condition.

The objective of this payment is to financially protect you and your family, allowing you to focus on your health and well-being without the added stress of medical care costs or other related expenses. Even individuals diagnosed with a life-threatening illness prior to getting the policy might find solace in the fact that some pre-existing conditions are also taken into account under this plan.

Can I get a critical illness insurance quote if I have pre-existing medical conditions?

Yes, while critical illness insurance primarily covers specific illnesses, some policies may include certain pre-existing conditions. It's highly recommended to consult our agents during the application process for coverage.

How can I get a quote for critical illness insurance?

To get a quote for critical illness insurance, you can reach out to InsureBC offices or connect with our agents directly. Simply fill out our online quote form and one of our agents will follow up with you with personalized quotes for critical illness insurance.

Do I need to take a medical exam for critical illness insurance?

The need for a medical exam depends on the insurer's requirements, your age, and the coverage amount you're applying for. It's best to inquire with the insurance company directly

What if I already have critical illness insurance through my group benefits?

If you already have critical illness insurance through your group benefits, you may want to assess if the coverage is sufficient for your needs. In some cases, it may be beneficial to have additional coverage.

Don't hesitate to reach out to us today to investigate your options and make certain your insurance coverage adapts with your changing life requirements. At InsureBC, we make your tranquility and confidence our utmost concern.

What if I used to have critical illness insurance through my group benefits?

If you used to have critical illness insurance through your group benefits but no longer do, you may want to consider getting a personal policy to ensure continuous coverage.

What types of cancer are covered by critical illness insurance?

Critical illness insurance generally covers various types of life-threatening cancers, including but not limited to, lung, breast, and prostate cancer. It's important to check the policy details for specific covered conditions.

Does critical illness insurance cover me for my whole life?

Critical illness insurance coverage duration varies by policy. Some provide coverage for your entire lifetime, while others may be term policies covering a specific period.

Do I need critical illness insurance?

Whether you need critical illness insurance depends on your personal circumstances, including your health risks, financial situation, and if you have dependents. It provides a financial safety net if you are diagnosed with a covered life-threatening illness.

Do my kids need critical illness insurance?

While it's not pleasant to think about, critical illness insurance can provide financial security in the event of a child facing a serious illness. Connect with us today to explore your options and ensure your coverage aligns with your evolving life circumstances.

Can I convert my critical illness insurance to a different policy?

Yes, the ability to convert your critical illness insurance policy to a different policy type largely depends on your provider and the specific terms of your policy. However, not all policies have this feature. It's crucial to thoroughly read and understand your policy or discuss it with one of your insurance agents to know your options.

How is critical illness insurance different from other types of insurance?

Critical illness insurance is specifically designed to provide a tax-free lump sum.

What illnesses are typically covered by critical illness insurance?

Critical illness insurance typically covers illnesses such as cancer, heart attack, stroke, organ failure, and paralysis. However, coverage may vary depending on the policy. Contact your broker for more information.

Can I get a critical illness insurance quote if I have pre-existing medical conditions

Some policies may exclude pre-existing conditions, while others may provide coverage with certain restrictions or higher premiums. Your broker can help you understand your options and find the best policy for your needs. Contact your broker for more information.

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