Critical Illness Insurance with guarantees!!

Critical Illness Insurance with guarantees!!

 The cost of Critical illness Insurance in Canada continues to climb. The emphasis on the rise on greatly on longer term or permanent critical illness insurance plans like Term to age 75 or Term to age 100 where the premiums are guaranteed to remain the same to age 75 or 100.  

Canada still continues to be one of the very few countries globally which offers a term to age 100. Some companies are withdrawing the guarantees and the return of premiums.

Significantly BMO Insurance and Industrial Alliance has some interesting guaranteed options in their critical illness insurance plans.

BMO Insurance has a Term to age 100 which provides critical illness coverage for life and the policy is paid up in 15 years.  At life insured’s age 100, the plan terminates and the face amount gets paid to the person insured. The plan is available to those aged 18 to 55, face amounts can be as low as 25,000 and the premiums and pay-period are fully guaranteed. Covers 26 illness, with a partial payout of 10% with a maximum of $25000 on an early discovery or diagnosis of certain illnesses at an early age. There are return of premium options available on death and upon surrender. A 100% return of premium is refunded if surrender is after year 15.

Industrial Alliance has a Critical Illness plan which covers 25 illnesses and a few partial payout conditions. It has a return of premium option on death and on surrender. It has a term to age 100 plan having options to make the coverage paid up in 10 and 20 years respectively.

We at are experts in explaining the the various types of Critical Illness  insurance that could protect you in times of need. Please feel free to contact us at or at 1 416 509 2540. Please visit us for a no obligation quote or advice.

                                                                                                                                                                                                                                  Your Insurance Guy

Prepared by: Aman Kapur

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