Critical Illness Insurance

Critical illness insurance is a type of health insurance that covers the medical expenses for the treatment of critical, life-threatening illnesses, such as cancer or heart attack. People with medically diagnosed severe conditions are eligible for critical illness coverage.

Critical illness insurance pays out a lump sum of money to the policyholder for the treatment of covered illness in exchange for premiums they pay. It’s a beneficial coverage that not only finances the treatment of your ailment but also serves as an alternative to your income during recovery.

What medical conditions does critical illness insurance cover

A typical critical illness insurance policy covers almost all types of severe illnesses, including:

Cancer

Heart attack
Alzheimer’s Disease
Kidney failure
Paralysis
Stroke
Blindness or vision disorders
Organ transplants
Your critical illness insurance covers almost all basic medical expenses associated with the treatment of these conditions without straining your financial savings. It also covers:

Homecare expenses

The fee for special medical equipment

Fees for private clinic visits

Travel expenses for medical appointments

Costs of visiting abroad for your treatment

Medications

Critical illness insurance can be purchased in two forms:

Standalone plan

Rider on Your life insurance policy

A standalone critical illness plan is relatively more expensive than purchasing it as a rider on your life insurance policy. In both cases, the benefits are similar. You may also get ROPD (Optional Return of Premiums on Death) benefits when you add critical illness coverage as a rider to your life insurance plan.

As an industry-leading insurance agency, Juggernaut Financial explores the whole insurance market to find a critical illness insurance plan that best matches your unique circumstances. We work with the most trusted insurance providers in Canada to offer you the most competitive rates in the market.