Critical Illness Insurance

What is critical illness insurance and what does it cover?

Critical illness insurance provides a lump sum cash payment directly to you upon diagnosis of a covered critical illness. This money is yours to use however you need — whether for medical treatments, mortgage payments, or lost income.

• Primary coverage: Full benefit amount for 26 major conditions
• Secondary coverage: 15% benefit for 8 early-stage conditions
• Teladoc services: Expert medical opinions & health information

26 primary covered conditions

Receive 100% of your coverage amount upon diagnosis of any of these conditions:

• Heart Attack
• Cancer (Life-Threatening)
• Stroke
• Coronary Artery Bypass Surgery
• Heart Valve Replacement
• Aortic Surgery
• Alzheimer's Disease
• Parkinson's Disease
• Multiple Sclerosis
• Motor Neuron Disease
• Kidney Failure
• Major Organ Transplant
• Major Organ Failure on Waiting List
• Benign Brain Tumour
• Acquired Brain Injury
• Coma
• Loss of Independent Existence
• Paralysis
• Loss of Limbs
• Loss of Speech
• Blindness
• Deafness
• Aplastic Anemia
• Bacterial Meningitis
• Severe Burns
• Occupational HIV Infection

8 secondary covered conditions (early diagnosis benefits)

Receive 15% of your coverage amount (up to $50,000) for early-stage conditions:

• Coronary Angioplasty
• Ductal Carcinoma In Situ of the Breast
• Stage A Prostate Cancer
• Stage 1A Malignant Melanoma
• Early Stage Blood Cancer/Leukemia
• Early Stage Intestinal Cancer
• Early Thyroid Cancer
• Temporary Loss of Independent Existence

Important: With our recommended coverage, receiving a secondary benefit does NOT reduce your primary coverage amount.

Teladoc expert medical services

All critical illness policyholders receive access to Teladoc services at no additional cost, including:

• Expert medical opinions: Access leading specialists for diagnosis confirmation, treatment plan discussions, or pre-surgery consultations
• Personal health navigator: Get condition-specific information from registered healthcare professionals
• Find a doctor: Local specialist referrals tailored to your medical needs
• Care finder: Access medical specialists outside of Canada
• Menopause care program: Expert support during perimenopause, menopause, and post-menopause
• Weight management program: Personalized plans with specialist guidance and one-on-one coaching

Why you need critical illness insurance

Protect your retirement

When a critical illness strikes, the financial costs can devastate your retirement savings. Consider these hidden costs:

• Your lost income: At least 3-6 months before long-term disability benefits begin
• Your spouse's lost income: 6 months to a year as they take leave to care for you
• Out-of-pocket medical expenses: Treatments, medications, and therapies not covered by provincial health plans
• Home modifications: Accessibility renovations and medical equipment
• Travel for treatment: Accommodation and transportation costs

These costs come directly from your savings — money you've worked years to accumulate for retirement. The impact on your future lifestyle can be dramatic and permanent.

Immediate financial relief when it matters most

A critical illness diagnosis brings overwhelming stress. Critical illness insurance provides:

• Cash freedom: Use the lump sum payment however you need — no restrictions
• Peace of mind: Focus on recovery instead of financial worries
• Replace lost income: Cover your bills while you and your spouse focus on what matters
• Access to information: When diagnosed, people desperately seek reliable medical information

With Teladoc services included, you gain immediate access to a medical-grade database of information and can get a second opinion from leading medical experts — all at no additional cost.

How we found the best critical illness coverage in Canada

As independent brokers, we're not tied to any one company. Our goal is simple: find the best coverage at the lowest premium for our clients. Here's our proven evaluation process:

Maximum coverage: 26 covered conditions

We started by comparing policies from all major Canadian insurers. Our first filter: only companies offering coverage for all 26 critical illness conditions. Many policies cover fewer conditions — we eliminated those immediately.

No reduction in primary coverage

Here's a critical difference many people miss: some insurers reduce your primary coverage if you claim a secondary benefit. For example, if you have $100,000 in coverage and claim a $15,000 secondary benefit, some companies reduce your remaining coverage to $85,000.

We only selected companies that maintain your full $100,000 primary coverage. Why? Because an early-stage diagnosis doesn't mean you need less protection for future major conditions.

Teladoc expert medical services included

Access to expert medical opinions and health information is invaluable during a health crisis. We only considered companies that include Teladoc services at no additional cost.

The results: two companies stand out

After applying these criteria, only two companies in Canada offer the best possible coverage:

• Canada Life Insurance
• Wawanesa Life

Premium comparison: Wawanesa Life wins

We compared premiums between Canada Life and Wawanesa Life across multiple age groups. Wawanesa Life had lower premiums in every single case.

Monthly premium comparison: Term 10 policy, $100,000 coverage, non-smoker rates.

Our recommendation: Wawanesa Life

Wawanesa Life offers the best critical illness coverage in Canada at the lowest premiums.

Other companies may advertise lower premiums, but they provide less comprehensive coverage. With Wawanesa Life, you get:

• All 26 primary conditions covered
• 8 secondary conditions (15% benefit, up to $50,000)
• No reduction in primary coverage after secondary claims
• Teladoc Expert Medical Services included
• The lowest premiums among top-tier coverage providers

Three exclusive benefits from Wawanesa Life

Wawanesa Life includes three additional benefits at no extra cost — benefits that other companies either don't offer or charge additional premiums for:

Temporary loss of independent existence

This unique secondary benefit provides 15% of your coverage amount (up to $50,000) if you temporarily lose the ability to perform basic activities of daily living for at least 30 consecutive days.

Key feature: If you later make a full claim for permanent Loss of Independent Existence, the temporary benefit is deducted. However, if you claim for a different covered condition, your full primary benefit remains intact.

Most other insurers don't offer this benefit at all.

Return of premium at death

If you pass away without having made a critical illness claim, Wawanesa Life returns all the premiums you've paid to your beneficiaries.

Important: Other companies charge an additional premium for this benefit. Wawanesa Life includes it at no extra cost.

Your premiums aren't lost — they're either used for a claim or returned to your loved ones.

Weight management program

As part of the Teladoc Expert Medical Services, Wawanesa Life includes a comprehensive Weight Management Program featuring:

• Personalized weight management plans
• Guidance from medical specialists
• One-on-one coaching sessions
• Access for eligible family members at no additional cost

Available to all policyholders who purchased Critical Illness Core or Comprehensive plans from August 2022 onwards.

Get the best critical illness coverage today

Don't leave your financial future to chance. Let Glenn, The Term Guy, help you secure comprehensive critical illness protection at the best possible price.

Why choose Glenn, The Term Guy?

• Independent broker — unbiased recommendations
• Access to all major Canadian insurers
• Expert analysis of policy details
• Personalized service and ongoing support
• No-obligation consultations