What is critical illness insurance?
Critical illness insurance pays a one-time, tax-free lump sum if you're diagnosed with a covered condition and survive the waiting period (often 30 days). Today many people survive serious illnesses — this coverage helps with the financial side of recovery.
How you can use the money
- Mortgage, rent and household bills while you take time off work
- Treatment, medication or care not covered by your provincial plan
- Time off for a spouse or family member to care for you
What's usually covered
Plans commonly cover cancer, heart attack, stroke and many other conditions — the exact list and definitions vary by insurer. Options include term or lifetime coverage and return-of-premium riders. Lovejot will compare plans and explain the differences so you choose the right one.
Talk to Lovejot about your options
Every family is different, so Lovejot looks at your age, health, budget and goals and compares plans from Canada's leading insurers for you. There's no cost and no obligation.
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