A critical illness can happen to anyone. And it does happen to many.
Canadians are more likely to experience a critical illness than they are to die before the age of 75.¹

For most people, the diagnosis is just the beginning 

If you become ill, your focus should be on recovery and regaining your health.
Critical illness insurance pays a lump sum benefit following the diagnosis of one of the covered illnesses. It offers you choices and allows you to recover on your own terms.

Your benefit could allow you to:

• avoid withdrawing money from an RRSP or other savings or investments
• pay down debts such as your mortgage or loans
• choose medicine and treatments not covered by group, personal or government plans
• replace lost income so you have choices – for instance, your partner can take time off work to help you
• maintain your business by hiring a person to run it until you return to work 

The illnesses covered

Critical Illness Insurance provides coverage for these  illnesses:

• ALS and other motor neuron diseases
• Alzheimer's disease
• Aortic surgery
• Aplastic Anaemia
• Bacterial Meningitis
• Benign brain tumour
• Blindness
• Cancer
• Coma
• Coronary artery bypass surgery
• Deafness
• Heart attack
• Heart valve replacement
• Kidney failure
• Loss of limbs
• Loss of speech
• Major organ failure requiring transplant
• Major organ transplant waiting list
• Multiple Sclerosis
• Occupational HIV
• Paralysis
• Parkinson's disease
• Severe burns
• Stroke

Partial benefit (s) are paid for these four additional illnesses:

• Coronary angioplasty
• Ductile carcinoma in situ of the breast
• Stage T1A or T1B prostate cancer
• Stage 1A malignant melanoma

There is coverage for these five additional childhood illnesses when the insured is age 2 to 19:

• Cerebral palsy
• Congenital heart disease
• Cystic fibrosis
• Muscular dystrophy
• Type 1 diabetes

The plans, features and coverage options available

Plans:

Sun Critical Illness Insurance is available as a Term 10, Term 75 or Lifetime plan.

• Term 10: Automatic renewal of coverage at the end of each ten year duration, without the need to re-qualify. Provides coverage to age 75.
• Term 75: Premiums remain level. Provides coverage to age 75.
• Lifetime: Premiums remain level. The policy is considered to be paid-up at age 100, with no further premiums due. Provides lifetime coverage.

Which you choose depends on your individual situation. An advisor can help you decide what's best.

Features:

• benefit amounts from $100,000 to $2,000,000, depending on your age. The maximum for juvenile coverage is $250,000
• available to adults age 20 - 65 and juveniles age 2 - 19
• you will know exactly what future premiums will be since premiums are determined at the time you qualify for coverage
• the Term 10 plan is convertible

Coverage Options:

• Interim insurance or temporary insurance: In most cases you will have immediate coverage for a maximum of 90 days until your application is approved or not approved.
• The option to add a return of premium on death benefit: If you die while your policy is in effect and you have not made a claim for a critical illness insurance benefit, your beneficiary will receive the total of all the premiums you paid into your policy, or your coverage amount, whichever is less. The return of premium on death benefit amount is reduced by any partial payments made.
• The option to add a return of premium on cancellation or expiry benefit: If you apply to cancel your policy after it has been in effect for at least 15 complete policy years and you have not made a claim for a critical illness insurance benefit, you'll receive the returnable premium amount. The return of premium benefit amount is reduced by any partial payments made.  If you have not cancelled the policy before the expiry date, you'll receive the returnable premium amount reduced by any partial payment made.
• Convertible: You can convert a Term 10 plan to a Term 75 plan on the policy anniversary following age 60 or by the end of the 10th policy year, whichever comes first.
• The option to add a waiver of premium: If you become totally disabled and unable to earn an income, your premium will be waived (you stop paying premiums) until you are no longer disabled.
• The option to add an automatic increase benefit: Your original benefit amount automatically increases by a fixed percentage after 5 and 10 years without submitting new evidence.
• Partial payments: You will receive a partial payment of the benefit if you are diagnosed with:
  
   
  • Coronary angioplasty
  • Ductal carcinoma in situ of the breast
  • Stage T1A or T1B prostate cancer
  • Stage 1A malignant melanoma

In these cases the policy remains in effect with the benefit amount reduced by the amount of the partial payment. You may only claim once per condition.

Your policy will contain complete details of the terms and conditions of coverage, as well as important exclusions and restrictions. 

Other services

Best Doctors services:

Best Doctors® is a medical referral network whose services can guide you through the maze of medical information and health care choices you may face if you suffer a critical illness, helping you make informed decisions about your health care. At time of diagnosis, they can connect you and your physician to the following services:

• InterConsultation™ - expert medical advice and treatment planning
• FindBestDoc™ - Identification of renowned physicians for each critical illness - in Canada and worldwide
• FindBestCare™ - Personalized assistance for medical appointments, travel and accommodation arrangements. Coordination of patient inquiries 24 hours a day, seven days a week

One-time family use of Best Doctors® Services:

• A one-time use of Best Doctors® service is available at no charge to an
  immediate family member (spouse, or dependent children under the age of 18) when diagnosed with an illness covered in the critical illness insurance policy. This one-time benefit can be used at any time while the policy is in effect. Family members cannot use Best Doctors® services for any pre-existing illnesses. This access is over and above the insured person’s access to Best Doctors®.

To use these services, you will need to contact Best Doctors® and provide your policy number.You will be responsible for authorizing your physician to send your medical records to Best Doctors® and for paying the costs of any treatment you receive.

Note the availability of Best Doctors® services is not guaranteed and may be withdrawn at any time.

The cost

The cost of critical illness insurance varies depending on the plan you choose, and the benefit amount and coverage options you select. Your age, health and other medical and lifestyle factors are also used to determine your premiums.

Talk to us today about protecting your family.

¹ Source: Munich Reinsurance, 2000