Critical Illness Insurance

Critical illness insurance will pay a lump sum should the insured survive a covered critical illness. The insured must survive a diagnosis of critical illness for a period of 30 days (sometimes referred to as a survival period).

Each carrier has specific conditions they insure. Please refer to each carrier’s contract for an exact wording of which conditions are covered.

Coverage can include:

  • Heart Attack
  • Cancer
  • Stroke
  • Coronary Artery Bypass Surgery
  • Kidney Failure
  • Major Organ Transplant (surgery or waiting list)
  • Paralysis
  • Alzheimer’s Disease
  • Loss of Speech
  • Deafness
  • Severe Burns
  • Blindness
  • Coma
  • Parkinson’s Disease
  • Motor Neuron Disease
  • Loss of Limbs
  • Benign Brain Tumour
  • Occupational HIV Infection
  • Heart Valve Replacement
  • Loss of Independence
  • Aortic Surgery
  • Bacterial Meningitis
  • Aplastic Anaemia

Some carriers and policies offer riders that that can include:

  • Return of Premium on Death – If the life insured does not survive the waiting period or dies as a result of other causes the premiums advanced will be returned.
  • Return of Premium on Surrender – Policy will return a percentage of all premiums paid including riders upon surrender of the policy as long as the policy has been maintained for a set number of years (carrier options range from 70% to 100%).

Products are offered with guaranteed rates for terms of:

  • 10 years
  • 20 years
  • Until age 75
  • Until age 100