Affordable critical illness coverage for Canadians
The best protection against critical illnesses — at a competitive rate.
Citadel Perk
- 44 conditions covered, the most in Canada
- Easy online process for getting coverage
- Standalone policy
What is critical illness insurance in Canada?
Critical illness insurance coverage provides a living benefit for Canadians with critical illnesses such as heart attacks, stroke or cancer. Our insurance also covers you from select early-stage conditions that are detected early so that you can focus on your recovery. You can use the cash to help replace your income while you take time off work or to pay for out-of-pocket medical expenses.
Benefits of critical illness insurance with Citadel
44 conditions covered
27 critical illnesses and 17 early-stage conditions – the most in Canada
More coverage options
Get covered for $10K to $1M, from 10 to 30 years
Extensive coverage for early-stage cancers and cardiac illnesses
With multiple payouts possible
Backed by giants
Federally regulated, backed by industry leader Canadian Premier
Genuine advice, no pressure to buy
Our licensed Canadian advisors don’t get commission
See for Yourself
What does Citadel's critical illness insurance cover?
Citadel covers 44 conditions, the most in Canada.
Cancer of specified severity
Aortic surgery
Cardiomyopathy
Coronary artery bypass surgery
Heart attack
Heart valve replacement or repair
Stroke
Acquired brain injury
Bacterial meningitis
Benign brain tumor
Coma
Dementia, including Alzheimer's Disease
Motor neuron disease (incl. ALS)
Parkinson's Disease and specified atypical Parkinsonian disorders
Paralysis
Aplastic anaemia
Multiple sclerosis
Occupational HIV infection
Blindness
Deafness
Loss of limbs
Loss of speech
Loss of independent existence
Severe burns
Kidney failure
Major organ transplant
Major organ failure on waiting list
Aortic aneurysm
Coronary angioplasty
Endovascular aortic surgery
Implantation of a permanent cardiac pacemaker
Implantation of a permanent implantable cardioverter-defibrillator (ICD)
Chronic lymphocytic leukemia – stage 0
Breast Cancer: Ductal carcinoma in situ of the breast or lobular carcinoma in situ of the breast
Gastrointestinal stromal tumours (GIST)
Prostate cancer – stage T1a or T1b
Malignant melanoma – stage 1
Dermatofibrosarcoma
Primary cutaneous lymphoma
Papillary thyroid cancer or follicular thyroid cancer – stage 1
Neuroendocrine tumours (including carcinoid tumours)
Carcinoma in-situ (non-invasive cancer)
Carcinoma in-situ (CIS) of the breast treated with total mastectomy
Prostate cancer treated with radical prostatectomy
How does critical illness insurance work with PolicyMe?
| Other Companies | Citadel | |
|---|---|---|
| Application | Typically: a call or meeting with an advisor and a paper application. | Online process. Get approved and covered in 20 minutes, on average. |
| Number of Conditions Covered | 20-30 conditions covered, on average | 44 conditions covered |
| Coverage Amounts | $25,000 to $2.5M, on average | $10,000 to $1M |
| Term Lengths | Usually 10 or 20 years, or until age 70 or 75 | 10, 15, 20, 25 or 30 years |
| Fully Covered Severe Conditions | 24-26 severe conditions, on average | 27 severe conditions |
| Partially Covered Early-Stage Conditions | 0-8 early-stage conditions, on average | 17 early-stage conditions |
| Payout Details | Lump-sum tax-free payout | Lump-sum tax-free payout |
| Locked-In Rate? | Yes | Yes |
| Convertible? | Yes | Yes |
| Can I apply with my partner? | No, others require separate applications | Yes, one online application for both partners |
See how affordable critical illness insurance can be with PolicyMe
Who needs critical illness insurance in Canada?
Parents
Employees without critical illness coverage
Freelancers
People without supplemental health insurance
Canadians without an emergency fund
You may need critical illness insurance if you have people in your life who depend on your income. Being seriously ill often means taking time off work or paying for medical expenses that are not covered by provincial health insurance.
Critical illness insurance provides a financial cushion during that difficult time.
How does critical illness insurance work in Canada?
Activate your policy when you're ready
Your coverage, your schedule. Once you're approved, read your policy carefully and sign-off when you're ready. Payment is only required when you’re ready to hit “go!”
Get a tax-free cash benefit
Once your claim is reviewed and approved, we'll send you a lump-sum payment that you can use to pay for whatever you like, so you can focus on what matters most: your recovery.
Submit a claim
If ever you're diagnosed with one of the covered conditions, a member of our team will help you along every step of the claim process.
Answer a few questions about your health and lifestyle
Apply for critical illness insurance on its own, or you can apply for term life insurance and see if you’re approved for both at the same time.
How much critical illness coverage do I need?
How much critical illness insurance coverage you need depends on the size of your emergency fund.
Experts usually recommend having three to six months’ worth of post-tax income. You may not need critical illness insurance if you have this much available in cash.
Do you have enough saved up to replace what you contribute? What about your spouse or partner? Even if you’re not the breadwinner, your family may still depend on your salary or free labour such as childcare.
Critical illness insurance quotes
Get a critical illness insurance quote online
Check your price: no commitment, no personal information collected.
Apply online when you’re ready.
Get personalized advice
Licensed Canadian advisors are available by phone Monday to Friday.
Give us a call at: +1 (866) 966-7457
Our advisors don’t receive commission, so there’s no pressure or upselling.
Critical illness insurance 101
Critical illness means being diagnosed with a serious health condition that is often life-threatening.
Insurance companies have different definitions of what a critical illness is and what conditions qualify. Common conditions such as stroke, cancer and heart attack are usually covered in critical illness insurance policies.
The purpose of critical illness insurance is to provide financial support to an individual that has a serious disease or illness. Public health care in Canada may not cover all medications, travel for treatment and homecare. You may also not have an employer group benefit plan or other private coverage to rely on. A critical illness may also mean unpaid time off work and/or additional costs like child care or retrofitting your home.
The lump sum payment you get from critical illness insurance helps to offset these expenses and provide additional financial security during this difficult time.
Illnesses typically covered by critical illness insurance in Canada include heart attack, cancer, paralysis, stroke, organ transplants, Alzheimer's, kidney failure and multiple sclerosis.
Canadian insurers have different definitions of what a critical illness is, but it is essentially a life-threatening illness. Some insurers will only cover serious illnesses like heart attack, while others will also cover early-stage diseases such as early-stage breast cancer.
In Canada, Citadel recently introduced the most complete critical illness insurance that covers 44 conditions: full coverage for 27 conditions and partial coverage for 17 conditions. Sun Life and Equitable offer the next best coverage options with 34 conditions covered: full coverage for 26 conditions and partial coverage for 8 conditions.
Curious to see how PolicyMe stacks up against other Canadian critical illness providers? Learn more about the best critical illness insurance in Canada.
Some conditions specify an amount of time that has to pass after you are diagnosed before you qualify for a critical illness payout. This differs by insurance company and by the condition that is covered. Usually, cardiovascular conditions (like heart attacks) are most likely to have a waiting period. That said, most of Citadel's covered conditions don't have waiting periods to qualify.
Critical illness insurance typically pays out between $10,000 to $1M in Canada. You choose your coverage amount when you apply for and sign your critical illness policy. If you want a higher coverage amount, your monthly premium will also be higher, though this rate is also determined by your health status, age and other factors.
