Critical illness insurance for Canadians, improved

The best protection against critical illnesses at a competitive rate.
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Based on publicly available rates for a 45yo non-smoking female with $50,000 in coverage over a 10-year term.
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What is critical illness insurance?

Critical illness insurance pays out a lump-sum cash benefit if you become critically ill during the time you’re covered.

Critical illnesses include heart attacks, stroke or cancer, among others.

Our insurance also covers you from select conditions that are detected early – such as some early forms of breast cancer – so that you can focus on your recovery. 

Unlike life insurance, the payout from critical illness insurance goes to you if you become ill, not to a beneficiary. 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 PolicyMe

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, 7 days a week

Our licensed Canadian advisors don’t get commission

See for yourself

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What does PolicyMe's critical illness insurance cover?

27 fully covered conditions
17 partially covered conditions

Who needs critical illness insurance in Canada?


Employees without critical illness coverage


People without supplemental health coverage

Canadians without an emergency fund

Employees without critical illness coverage
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 with PolicyMe?

20-30 conditions covered, on average

Other Companies


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


Fully Covered Severe Conditions

Partially Covered Early-Stage Conditions

Payout Details

Locked-In Rate?


Can I apply with my partner?

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Coverage Amounts

$25,000 to $2.5M, on average
Usually 10 or 20 years, or until age 70 or 75
24-26 severe conditions, on average
0-8 early-stage conditions, on average
Lump-sum tax-free payout
No, others require separate applications
44 conditions covered
$10,000 to $1M
10, 15, 20, 25 or 30 years
27 severe conditions
17 early-stage conditions
Lump-sum tax-free payout
Yes, one online application for both partners

Term Lengths

See how affordable critical illness insurance can be with PolicyMe

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How much critical illness insurance do I need?

How much critical illness insurance 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.

Tally up your expenses to estimate your coverage needs:

  • Mortgage or rent payments
  • Loans or debts
  • Bills and utilities
  • Groceries
  • Child care
  • Retirement savings
  • College savings
  • Other expenses

 Critical illness insurance quotes

Get a 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 7 days a week.

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

What does critical illness mean?
What is the purpose of critical illness insurance?
What illnesses are covered by critical illness insurance?
What’s the waiting period for critical illness insurance?
How much does critical illness insurance pay out?
How is critical illness insurance paid out?
Can you cancel critical illness insurance?
Can I get critical illness coverage only?