What is critical illness insurance?
Being diagnosed with an illness is something that can have a negative impact on your personal and family finances. Critical illness insurance provides you with financial assistance so you can maintain your standard of living and focus on what matters—recovery.
Our products cover the critical illnesses that affect Canadians the most. If you are diagnosed with a critical illness that is covered by your policy, you will receive a tax-free lump sum payment to help you cover the costs of the illness. You can use the money as you see fit, without having to justify how you spend it!
Critical illness insurance benefits
- The benefits you receive are not taxable
- You do not need to justify how you spend the money—you can use it as you see fit
- It helps you cover additional expenses caused by the illness (medications, adapted equipment, experimental treatments not covered by public health insurance, rehabilitation costs and other private medical expenses)
- It helps you cover your financial commitments if you experience a decrease or loss of income
- You can use the money for home care for you and your family, such as meal preparation and homework help
- You can use the money to provide some financial flexibility as you recover so that you can work part time or extend your sick leave to take some time for yourself
What is Transition?
Transition is flexible and comprehensive critical illness insurance coverage that adapts to your needs. It helps protect your financial health and your quality of life, because your recovery is all that matters!
Two versions of Transition are available:
Transition — 4 Illnesses offers an affordable solution with a quick application process. It covers the 4 critical illnesses that represent more than 85% of claims: a one-of-a-kind insurance solution!
4-conditions or illnesses covered
This is the most cost-conscious option and covers conditions that generate 85% of claims.
- Cancer (life threatening)
- Heart attack
- Stroke (cerebrovascular accident)
- Coronary artery bypass surgery
Transition — 25 Illnesses is ideal for those who want complete coverage. In addition to the most common illnesses, it covers other conditions such as paralysis and loss of independent existence.
25-conditions or illnesses covered
This is the most comprehensive coverage option and has the added benefit of covering five childhood conditions until the child is 24 years old.
- Alzheimer’s disease
- Aortic surgery
- Aplastic anaemia
- Bacterial meningitis
- Benign brain tumour
- Blindness
- Cancer (life-threatening)
- Coma
- Coronary artery- bypass surgery
- Deafness
- Heart attack
- Heart valve replacement
- Kidney failure
- Loss of independent existence†
- Loss of limbs
- Loss of speech
- Major organ transplant
- Major organ failure on waiting list
- Motor neuron disease
- Multiple sclerosis
- Occupational HIV infection
- Paralysis
- Parkinson’s disease
- Severe burns
- Stroke (cerebrovascular accident)
How does it work?
Transition pays a tax-free lump-sum amount in the event of diagnosis of any of the diseases covered by your contract. You can use the payment as you see fit: for yourself, your family or your business.
The contract imposes no restrictions on how the money is used. For example, you can use it to pay for home care, to take a trip to rest up and spend quality time with your loved ones, or to have the financial freedom to remain at the bedside of your sick child or spouse.
It’s an ideal solution if you are
- A salaried employee or a self-employed worker looking for comprehensive coverage to protect your financial health in the event of illness
- A parent and you want to insure your family against the unexpected expense of critical illness – for example, this protection could allow you to take time off from work to remain at the bedside of a sick child or spouse
- Concerned about protecting your estate and retirement plans in the event of critical illness
- A small business owner and you want insurance protection for your financial health and that of key employees
One of our advisors can talk you through your insurance options today.
Why Choose Us
Flexible Payment in Monthly Installments
We offer flexible payment plans to provide financial relief to clients. Monthly payments can be made as a substitute for lump sums. This, we believe, can be extremely helpful to clients.
It's a requirement for the insurance plan to allow payment in convenient monthly installments. This provision ensures that sponsors can manage their budget effectively while meeting the insurance needs of their visiting parents or grandparents. Monthly payment options not only make it more accessible but also the cheapest Super Visa Insurance and also provide financial convenience, allowing sponsors to
meet the visa requirement without a significant upfront cost.
Partial Refund for Unused Period
Remarkably, the Super Visa Insurance provides the chance for a refund for when the service is unused
over the duration of stay.
This feature helps advert payment of an unused policy. If, for any reason, visiting parents or grandparents return to their home country before the insurance coverage period expires, sponsors can apply for a partial refund, allowing them to recover a portion of the premiums paid. This offers peace of mind and ensures that the insurance plan aligns with the actual duration of their stay in Canada, making it the lowest Super Visa Insurance and a sensible choice for both sponsors and their loved ones.