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FAQ for Critical Illness Insurance

Q. If I already suffer from a medical condition which is covered can I still get the coverage for the rest of the covered conditions?

No, unfortunately the medical underwriting requirements are very strict. If you already suffer from a major illness you will be declined. You may also be rated even if you are healthy due to family history.

There are conditions to be met in order to qualify for this coverage. Please take a few moments to review this checklist before completing the application.

For the proposed insured, critical illness insurance will not be available if a prior history
exists of any one of the following:

AIDS, AIDS related disease or a
positive HIV test   
Alcohol abuse (treatment for)
within 2 years 
ALS (Lou Gehrig's disease or amyotrophic
lateral sclerosis) 
Alzheimer's disease
Angina    Aortic surgery
Aplastic anaemia Bacterial meningitis 
Benign brain tumor Cancer*
Coronary bypass surgery or angioplasty   Cystic fibrosis
Diabetes - insulin dependent Drug use other than prescribed drugs or
 social marijuana within the past 3 years
  - non-insulin dependent if the proposed insured is under 40
Haemophilia  Heart Attack
Hepatitis (chronic) Heart valve replacement
Huntlington's chorea  Kidney disease (chronic) or kidney failure
Major organ transplant Major organ failure on waiting list
Multiple sclerosis  Muscular dystrophy 
Parkinson's disease Permanent paralysis
Pulmonary fibrosis Stroke or Transient ischemic attack (TIA)
Systemic lupus erythematosis (SLE)  
* Some exceptions for cancer ( including non-melanoma skin cancer may apply)

The checklist above includes some of the more commonly seen illnesses, disorders or surgeries.
Other medical histories may also be uninsurable.

Q. How many claims can be made with this critical illness policy?

This type of policy pays a one time lump sum benefit for the full amount of coverage. After the claim has been approved, a cheque for the full amount is usually paid up and the policy will no longer exist. You may even recover and return back to work but the benefit has been paid and no further coverage exists on that policy. Some insurance carriers offer a second event benefit and will pay 50% of the original amount on a second claim but conditions apply to which illnesses are covered on the second event.

Q. Is a critical illness insurance expensive?

The cost to be covered will vary. The insurance solution can be purchased on a term basis or permanent basis. Some carriers offer the return of premium rider benefit which will have a cost impact on the policy. Some carriers also offer a short-list of conditions called the simplified plan, making the cost less expensive compared to the full coverage policies containing all conditions. Age and gender and smoking habits will also affect the premium.

Q. Since when has this product existed?

This type of protection has been around since the eighties. The critical illness concept was created by Dr. Marius Barnard. His logic was that " You need insurance not only because you are going to die but because you are going to live." Dr. Marius Barnard says that people whose lives were saved by a surgery which he preformed
usually saw their life savings depleted by the expenses related to their illness and their life style totally shattered because of lack of funds.

Questions to ask yourself. The answer to all of the questions is Critical Illness Insurance.


Here are a few short questions you can ask yourself.

  • Would you rather have a heart attack or lose your house? Or, have a heart attack and lose your mortgage?
  • At sporting events, we stand in line for  hot dogs and beer, do  you want to do the same for
    medical care or would you rather go to the front of the line?
  • If you knew that you would be diagnosed with cancer in six months, would you buy this
    insurance? How do you know you won't be?
  • Did you know that you have a 100% chance of dying but before you do, you have an 80% chance of living with the consequences of a life-altering illness?
  • Do you believe health care in Canada will improve or deteriorate over the next few years?
    What are you going to do about it?
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