How it works
- Covered conditions are defined in the policy and commonly include cancer, heart attack and stroke, plus others that vary by insurer
- A survival period, often 30 days after diagnosis, usually applies
- The benefit is paid as a lump sum, regardless of your other income or coverage
- Some policies offer a return of premium option, subject to its terms
Why people buy it
A serious illness can mean time off work for you or a family member, treatment or medications not covered by OHIP or your plan, travel to appointments, or changes to your home. Critical illness coverage can help you focus on recovery.
What to compare
- Number and definitions of covered conditions, which are not the same across insurers
- Partial benefits for early-stage conditions
- Term length or lifetime coverage, and premium guarantees
- Exclusions, especially for pre-existing conditions
Coverage descriptions are general. Your policy wording, limits and exclusions determine what is covered. Availability and premiums vary by insurer and by your circumstances.