Critical Illness Insurance

A living benefit that provides a lump-sum you can spend on anything you want if you are diagnosed with a specified covered illness

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Critical Illness Insurance provides financial protection, helping you to stay focused on getting well

The list of illnesses that we may face over our lifetime can be extensive, however statistics indicate that over 90% of critical illnesses come down to two. Cancer (Approximately 1 in 2 Canadians will be diagnosed with cancer in their lifetime1) and Cardiac related (About 1 in 12 Canadians is living with diagnosed heart disease2). By our mid-forties the likelihood to be diagnosed with either of these sharply increases 3. While these facts may be sombre, it is heartening to know that today’s medical advances are rapidly raising life expectancies. However, what if you were facing a critical illness such as cancer, a heart attack or stroke, would you and your loved ones be financially protected? Dealing with a Critical Illness is difficult enough.

With a Critical Illness policy you receive a lump-sum payment that can be used to cover many costs — including medical care, travel expenses or wages of a family member leaving work to help. Like Life Insurance, Critical Illness Insurance can be an important element in your financial plan. By paying you cash benefits when you are diagnosed with a specified covered illness, this can help alleviate some of the stress that you are already facing.

Why choose Canada Protection Plan for Critical Illness Insurance?

  • No medical tests or exams
  • Easily get coverage in just days
  • Receive up to $100,000 of protection
  • Coverage for Cancer survivors
  • You may be eligible to apply, even with a pre-existing condition
  • Coverage up to age 75
  • Payments don’t start until the second month, applicable on monthly payment plans

Did you know?

  • Typical Disability Insurance will not cover you if you are deemed able to work
  • Your employer’s Insurance benefits may be capped
  • Employment Insurance lasts a maximum of 15 weeks; this can vary by province

1 Canadian Cancer Society | 2 Government of Canada | Published by the Canadian Institute of Actuaries

FOUR Critical Illness Insurance plans providing you with flexibility along with affordable premiums. No Medical Required.

Cardiac Protect CI

Receive one tax-free payment up to $50,000 in the event of a Heart Attack, Stroke, Aortic Surgery, Coronary Artery Bypass Surgery and Heart Valve Replacement or Repair.

Cancer Protect CI

Receive one tax-free payment up to $50,000 in the event of Cancer, Aplastic Anemia and Benign Brain Tumour. Canada Protection Plan offers coverage for these last two conditions, in addition to typical Cancer coverage currently available in Canada.

Cardiac AND Cancer Protect CI

Get coverage for both. Receive 2 tax-free payments of up to $50,000, one for each plan.  If you claim on one plan, the other plan remains in effect, making you eligible for a total of 2 claim payments. Canada Protection Plan provides affordable, flexible coverage, plus a reduced premium after the first claim on this plan. 

Cardiac OR Cancer Protect CI

Get coverage for either. Receive one tax-free payment up to $100,000 in the event of the first illness.

CARDIAC PROTECT CI

T75

18 – 65 years old

  • Minimum Face Amount $10,000
  • Maximum Face Amount $50,000
  • Non – Renewable
  • Non-convertible
OPTIONAL BENEFITS
  • Accidental Death Benefit
  • Return of Premiums upon Death

CANCER PROTECT CI

T75

18 – 65 years old

  • Minimum Face Amount $10,000
  • Maximum Face Amount $50,000
  • Non – Renewable
  • Non-convertible
OPTIONAL BENEFITS
  • Accidental Death Benefit
  • Return of Premiums upon Death

CARDIAC AND CANCER PROTECT CI

T75

18 – 65 years old

  • Minimum Face Amount $10,000 per event
  • Maximum Face Amount $50,000 per event
  • Non – Renewable
  • Non-convertible
OPTIONAL BENEFITS
  • Accidental Death Benefit
  • Return of Premiums upon Death

CARDIAC OR CANCER PROTECT CI

T75

18 – 65 years old

  • Minimum Face Amount $10,000
  • Maximum Face Amount $100,000
  • Non – Renewable
  • Non-convertible
OPTIONAL BENEFITS
  • Accidental Death Benefit
  • Return of Premiums upon Death

CARDIAC OR CANCER PROTECT CI

T20

18 – 55 years old

  • Minimum Face Amount $25,000
  • Maximum Face Amount $100,000
  • Renewable to age 75
  • Non-convertible
OPTIONAL BENEFITS
  • Accidental Death Benefit
  • Return of Premiums upon Death

Nobody expects to become seriously ill. But it can happen.

What is important to know about Cardiac Protect CI Plan?

Cardiac Protect CI will pay the insured amount if you are diagnosed with one of the following critical illnesses (as defined in your policy): Heart Attack, Stroke, Aortic Surgery, Coronary Artery Bypass Surgery and Heart Valve Replacement or Repair.

Cardiac Protect CI provides coverage up to age 75 (Term 75).

What is important to know about Cancer Protect CI Plan?

Cancer Protect CI will pay the insured amount if you are diagnosed with one of the following critical illnesses (as defined in your policy): Cancer, Aplastic Anemia and Benign Brain Tumour.

Cancer Protect CI provides coverage up to age 75 (Term 75).

What is important to know about Cardiac AND Cancer Protect CI Plan?

Cardiac AND Cancer Protect CI will pay the insured amount if you are diagnosed with one of the following critical illnesses (as defined in your policy): Heart Attack, Stroke, Aortic Surgery, Coronary Artery Bypass Surgery and Heart Valve Replacement or Repair AND Cancer, Aplastic Anemia and Benign Brain Tumour.

If you claim on one plan, (for example Cardiac), the other plan remains in effect at reduced premium.

Cardiac AND Cancer Protect CI provides coverage up to age 75 (Term 75).

What is important to know about Cardiac OR Cancer Protect CI Plan?

Cardiac OR Cancer Protect CI will pay the insured amount if you are diagnosed with one of the following critical illnesses (as defined in your policy): Heart Attack, Stroke, Aortic Surgery, Coronary Artery Bypass Surgery and Heart Valve Replacement or Repair OR Cancer, Aplastic Anemia and Benign Brain Tumour. Get coverage for either, receive 1 claim payment.

Cardiac OR Cancer Protect CI has two term coverages: Up to age 75 (Term 75) and as a Term 20 that is renewable every 20 years until age 75.

What options do I have to pay premiums?

Premium options include annual payments by cheque or credit card and monthly payments by pre-authorized bank debits.

What guarantees exist under this plan of insurance?

  • The premium schedule in your policy is guaranteed not to change for the first five years
  • Satisfaction guaranteed or money refunded – your policy includes a 10 Day Free Look Guarantee that gives you 10 days from the date you receive your policy to review it and decide if it is right for you. If you decide to return your policy in that 10 days, we will refund your premium, no questions asked.

What additional benefits may be included to my Critical Illness policy?

In addition, all Canada Protection Plan policies may include a number of non-contractual member benefits, offered by Foresters Life Insurance Company, the company which underwrites our policies. These are just a few listed, when you receive your policy, all benefits will be outlined.

  • an online document preparation service helps create customizable wills, powers of attorney and healthcare directives. *
  • competitive scholarships for tuition for higher learning worth up to $8000
  • a renewable higher learning scholarship worth up to $6000 per year for four years for children of deceased members
  • emergency grants to provide short term, temporary financial assistance to members affected by significant personal hardship, disaster or large-scale emergency
  • a monthly payment for orphans up to the age of 18 upon the death of both parents
  • money management assistance to provide confidential financial help by accredited counselors

Not available in Quebec, the Territories and Nunavut.

What additional options can be added to my Critical Illness policy?

You can add the following options to your policy:

Accidental Death Benefit (ADB) – This benefit will pay the chosen additional amount if the cause of death is accidental (as defined in your policy).

Return of Premium On Death (ROPD) Rider Return of Premium on Death – While the policy is in effect, this option will reimburse premiums paid upon the death of the insured and will be paid to the beneficiary.

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