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Critical Illness Insurance
Critical illness insurance can provide you with a one-time lump-sum benefit to help cover additional expenses often associated with a critical condition. |
| Features |
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| Target group |
Professionals, employees, part-time and seasonal workers, non-income earning individuals, university students and recent graduates who wants to complement their disability and / or life insurance protection by providing a source to help fund additional expenses associated with a critical health condition. |
| Coverage Purpose
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Personal Protection
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| Benefit Type
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Level Benefit or Decreasing Benefit |
| Coverage Period |
Level Benefit : to age 65, to age 75, to age 75 (20 or 30 year pay), lifetime (paid-up to age 100), and term 10 renewable to age 75 (renew every 10 years)
Decreasing Benefit: 10, 15, 20 and 25 years
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| Benefit Payment |
One-time lump sum |
| Issue Ages (time period when someone can apply for disability insurance): |
Level Benefit to age 65 : (18-60)
Level Benefit to age 75 : (18-65)
Level Benefit to age 75 (20 year pay) : (18-54)
Level Benefit to age 75 (30 year pay) : (18-44)
Level Benefit lifetime (paid-up at age 100) : (18-65)
Level Benefit term 10 renewable to age 75: (18-64)
Decreasing Benefit 10, 15, 20, and 25 years: (18-65) |
BUILT – IN FEATURES |
| Critical Conditions
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Alzheimer's Disease, Deafness, Major Organ Transplant, Aortic Surgery, Heart Valve Replacement, Motor Neuron Disease, Benign Brain Tumor, Kidney Failure, Mulitple Sclerosis, Blindness, Loss of Independent Existence, Occupational HIV Infection, Coma, Loss of Limbs, Paralysis, Coronary Artery Bypass, Loss of Speech, Parkinson's Disease, Severe Burns |
| Return of Premium on Expiry:
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Level Benefit to age 75 and term 10 renewable to age 75 – issue ages 18 – 60
Level Benefit to age 75 (20 year pay) – issued ages 18 – 54
Level Benefit to age 75 (30 year pay) – issued ages 18 - 44 |
| Return of Premium on Death
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All plans – issued age same as basic plan |
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