Financial protection when you need it most — tax-free lump-sum payment
A critical illness diagnosis can change everything — your health, your income, and your family's financial security. Critical Illness Insurance provides a tax-free lump-sum payment if you're diagnosed with a covered illness, giving you the financial freedom to focus on recovery instead of worrying about bills.
At Ourinsurenase, we help you find the right critical illness coverage from Canada's top insurance providers. Our licensed advisors will guide you through the options and find a plan that fits your needs and budget.
Critical Illness Insurance pays you a one-time, tax-free lump-sum payment if you're diagnosed with a covered critical illness. You can use the money for anything you need — there are no restrictions on how you spend it.
Unlike disability insurance (which pays monthly), critical illness insurance gives you the entire amount upfront — immediately after the diagnosis and survival period (usually 30 days).
Coverage varies by policy, but most critical illness insurance plans cover the following conditions:
Some policies cover as few as 3 conditions (cancer, heart attack, stroke) while others cover 25+ conditions. We'll help you choose the right level of coverage.
The lump-sum payment is yours to use however you need. Most people use it for:
Receive a one-time, tax-free payment directly to you — no restrictions on usage.
Payment is made after the 30-day survival period — quick access to funds when needed.
Fills gaps that provincial health plans and disability insurance don't cover.
Keep your home by covering mortgage payments during treatment and recovery.
Many plans offer a return of premium option if you never make a claim.
Add your children to your policy for as little as $5/month per child.
Choose the coverage amount that fits your needs
Life Insurance pays your beneficiaries after you pass away. Critical Illness Insurance pays YOU a lump sum while you're alive, if you're diagnosed with a covered illness. They complement each other — many people get both for complete protection.
Most experts recommend coverage equal to 1–2 years of your income, or enough to cover your mortgage and living expenses for 2 years. Our advisors can help you calculate the right amount based on your specific situation.
The survival period is the number of days you must survive after being diagnosed with a covered illness before the payment is made. Most policies have a 30-day survival period. If you pass away during the survival period, no benefit is paid.
It depends on the condition and the insurer. Some insurers may exclude certain pre-existing conditions, while others may offer coverage with a higher premium. Our advisors will help you find a plan that works for your situation.
No, the critical illness insurance lump-sum payment is tax-free in Canada. You receive the full amount and can use it however you need.
Return of Premium (ROP) is an optional add-on that refunds all your premiums if you never make a claim. It can be triggered at a specific age (e.g., 65 or 75) or upon death. This option costs more but ensures you get your money back if you stay healthy.
Yes, most critical illness policies allow you to add children's coverage as a rider. This covers your children for critical illnesses at a very low cost — often $5–$15 per month per child.
If your illness is not listed in the policy's covered conditions, no payment is made. That's why it's important to choose a comprehensive plan that covers a wide range of illnesses. Our advisors will help you understand exactly what's covered.
Get a free critical illness insurance quote today. Don't wait until it's too late.
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