How much does CI cost in Canada

Critical illness insurance rates in Canada depend on age, gender, smoking status, coverage amount, and province. 

The table below shows illustrative monthly premiums for healthy non-smokers, broken down by age and gender.

The table below shows illustrative monthly premiums for smokers, broken down by age and gender.

Who should consider critical illness insurance?

Critical illness insurance is designed for people whose finances could be significantly affected by a serious illness. It provides financial stability at a time when income and expenses may both be under pressure, allowing you to focus on recovery with greater peace of mind.

This coverage is especially relevant for:

• Individuals with financial dependents, such as children or aging parents
• Homeowners carrying mortgage obligations
• Self-employed workers or professionals with variable income
• People with limited savings or emergency reserves
• Those with a family history of major illnesses
• Anyone relying mainly on basic or limited workplace health benefits
• For these groups, critical illness insurance can act as a financial buffer, helping protect both personal finances and long-term plans during a serious health event.

What to consider when buying critical illness insurance in Canada

If critical illness insurance still makes sense for your situation, these are the factors that matter most when choosing a policy:

• Illnesses covered: Review the specific illnesses and medical definitions in each policy. Most plans include cancer, heart attack, and stroke. Some policies also offer partial or early-stage benefits for certain conditions, subject to strict definitions
• Coverage amount: Choose an amount based on expected medical costs not covered by provincial health insurance, income disruption, debt obligations, and household expenses during recovery
• Payment terms: Depending on the insurer, you may be able to choose limited-pay options (such as 10- or 20-pay) or ongoing premiums over the policy term
• Additional benefits or riders: Optional riders, such as return-of-premium, may refund some or all premiums under specific conditions, but they increase policy cost and vary by insurer

How to get the best CI quotes in Canada

Get your best critical illness insurance quote in three simple steps:

1. Share your age, basic health details, and coverage goals
2. Compare critical illness plans and features side by side from leading Canadian insurers
3. Confirm your rate with support from a licensed PolicyAdvisor advisor at no cost

To begin, you only need your age, general health history, desired coverage amount, and an estimate of how much financial protection you want if a serious illness occurs.

After you choose a plan, PolicyAdvisor’s licensed insurance experts continue to support you by explaining your coverage clearly and helping you make informed decisions with confidence.

Frequently asked questions

Is critical illness insurance worth it in Canada?

Critical illness (CI) insurance is worth considering if a serious diagnosis would disrupt your income or create out‑of‑pocket costs. CI pays a tax‑free lump sum you can use for anything. If you have dependants, debt, or limited savings, talk to an advisor about a right‑sized amount and term for your budget.

Which three illnesses are covered under most critical illness policies?

Cancer, heart attack, and stroke are covered under most critical illness policies in Canada.

What is a good amount for critical illness insurance?

The right amount of critical illness insurance in Canada depends on your lifestyle, family needs, savings, medical expenses not covered by provincial health care, and the income required to support you and your family during your illness. 

What is the difference between critical illness insurance and regular health insurance?

Critical illness insurance provides a one-time, tax-free lump sum payment upon diagnosis of specific conditions, such as cancer, heart attack, and stroke. Regular health insurance, in contrast, covers a broad range of conditions and reimburses you for the actual treatment costs after you submit bills and related documentation.

Methodology: How we ranked the best disability insurance in Canada

Our expert team of licensed insurance advisors at PolicyAdvisor ranked the top disability insurance providers in Canada based on key factors:

• Term lengths: Flexibility of short-term and long-term coverage options
• Waiting periods: How quickly policyholders can access benefits after a claim
• Premium rates: Monthly costs compared to coverage value and affordability
• Application process: Ease of underwriting, including no-medical exam options
• Online accessibility: Ability to get quotes, apply, and manage policies digitally
• Financial strength ratings: Third-party ratings (e.g., AM Best) for stability and claims-paying ability
• Plan features and customization: Availability of riders, conversion options, and built-in benefits for tailored protection

How much does disability insurance cost in Canada?

Several factors influence how much you’ll pay for disability insurance. Understanding these helps you choose coverage that protects your income without overpaying:

• Age: Younger applicants generally pay lower premiums
• Occupation: High-risk jobs cost more; low-risk office roles pay less
• Waiting period: Shorter waiting periods increase premiums; longer waits reduce them but delay benefit payments
• Benefit period: Longer coverage periods (e.g., to age 65) cost more but protect long-term earning power
• Coverage amount: Higher monthly benefits increase premiums
• Health: Healthier applicants and non-smokers qualify for lower rates
• Policy type: Short-term disability is cheaper; long-term provides more comprehensive protection

On average, individual disability insurance costs around 1–3% of your annual income, which may be about $40–$125 per month for low-risk, younger applicants earning approximately $50,000 per year. Premiums can be higher for more comprehensive plans or higher-risk professions. For example, long-term plans with broader coverage or riders can cost a larger percentage of income.

Cost for disability insurance premiums by occupation class

Before looking at the table, it’s important to note that occupation risk is one of the biggest determinants of premiums. Low-risk office roles have lower monthly costs, while higher-risk manual jobs carry higher premiums.

Cost for disability insurance premiums by age
Premiums increase with age because older applicants are statistically more likely to claim. The table below shows how age affects monthly costs for $5,000 and $10,000 benefits with a standard 90-day waiting period.

Cost for disability insurance premiums by waiting period
The waiting period determines how soon benefits start after a disability. Shorter waiting periods increase premiums because the insurer begins paying sooner, while longer waits reduce monthly costs.

Who should consider disability insurance?

If losing your ability to work, even temporarily, would impact your income or financial stability, disability insurance can help protect your livelihood. It’s especially important for individuals who depend on their income to cover day-to-day expenses.

• Employees who rely on a steady paycheque
• Self-employed professionals or those with variable income
• Homeowners with rent or mortgage obligations
• Individuals with dependents who rely on their income
• People without sufficient savings to cover months of expenses
  Workers with limited or no employer-provided disability benefits

Key factors to consider when applying for disability insurance

When choosing a disability insurance policy in Canada, it’s best to look beyond the price. Several technical features, such as how your insurer defines disability, the waiting period, and the coverage amount, will determine how much protection you receive.

1. Definition of disability: Insurers define “disability” in three main ways:

• Own occupation pays benefits if you can’t perform your specific job or specialized profession
• Regular occupation covers you if you can’t work in your field, but ends benefits if you take another job
• Any occupation offers the least protection. If you can work in any role, even one unrelated to your training, you won’t qualify for benefits

2. Waiting period: This is the time you must wait after becoming disabled before benefits begin. Longer waiting periods lower premiums but require you to cover all expenses until payments start. If your condition resolves during this time, you receive no payout
3. Coverage amount: Short-term disability insurance often covers 70% to 100% of your income. Long-term disability typically replaces 50% to 70%, which may not be enough for most Canadians. Consider topping up your coverage with an individual plan to ensure long-term financial stability

How to get the best disability insurance quotes in Canada

Get the best disability insurance quotes in three easy steps:
1) Tell us your occupation and income
2) Compare top-matched plans and riders side-by-side
3) Lock in your rate with a licensed advisor from PolicyAdvisor, at no cost. You’ll need: job title, income estimate, and an idea of your emergency fund (for waiting period choice).

Once you choose a plan, licensed PolicyAdvisor experts provide free guidance and ongoing support to help you understand your coverage and make informed decisions.

Is disability insurance worth it in Canada?

Yes. For most Canadians, disability insurance is valuable as it can cover living expenses, debts, and other financial obligations during periods of short- or long-term disability, effectively replacing a portion of their income.

How much do most people pay for disability insurance?

If your short-term disability insurance is part of your employer benefits, you pay little to no premiums. However, if you opt for a private policy, your premium is determined by your salary and occupation (among other factors), with basic injury-only coverage starting at $10 per month.

Long-term disability insurance typically costs between 1% and 3% of your annual income. For a 30-year-old in an office job earning $40,000, premiums for $2,500/month benefits can range from $28 to $50 per month, depending on occupation and health. A 2-year benefit period is on the lower end, while coverage to age 65 costs more.

What percentage of my income is covered by disability insurance?

Short-term disability insurance typically covers 60–90% of your income, while long-term disability insurance usually replaces 60–70% of your gross income, depending on the policy. The exact percentage for both depends on your specific policy and insurer.

Can you work on long-term disability in Canada?

Yes, some policies allow you to work while receiving long-term disability benefits. However, they usually limit the income you can earn and the work you can do. Violating these terms could result in the termination of your benefits.

What happens if I miss a premium payment on my disability insurance plan?

Most Canadian insurers offer a 30-day grace period during which your coverage remains active. If payment isn’t made within this period, the insurer may terminate your policy. Some policies can be reinstated by paying missed premiums and providing updated medical information. To avoid interruption, set up automatic payments or contact your insurer for temporary solutions.

What is the difference between disability insurance and critical illness insurance?

Disability insurance replaces a portion of your income if you are unable to work due to illness or injury. Critical illness insurance pays a one-time lump sum after diagnosis of a covered serious illness.

Are disability benefits taxable in Canada?

Generally, individual policy benefits are tax-free when you pay the premiums personally. If your employer pays the premiums, benefits may be taxable; plan your coverage amount accordingly.

How does disability insurance interact with Employment Insurance (EI) sickness benefits?

Employment Insurance (EI) sickness benefits can provide temporary income support for up to 26 weeks if you’re unable to work due to illness or injury. Private DI can supplement EI benefits, but some group policies may offset EI payments, reducing your private insurance payout. Individual DI policies are often non-integrated, so benefits may stack with EI.

What is typically not covered by disability insurance?

Disability insurance usually does not cover:

• Pre-existing conditions during the exclusion period
• Disabilities resulting from non-covered activities (e.g., extreme sports if excluded)
• Periods that do not meet the policy’s waiting period before benefits begin

Why do exclusion periods exist?

Exclusion periods protect insurers from covering known health conditions at the time of application. This ensures premiums remain fair for all policyholders.

How much disability insurance coverage do you need in Canada?

When deciding how much disability insurance coverage you need in Canada, the general rule of thumb is to replace 60 to 70% of your pre-tax income. This level of coverage ensures you can continue paying for essential expenses such as housing, groceries, utilities, and loan payments if you are unable to work due to illness or injury. 

Since disability benefits are often tax-free when you pay premiums personally, this percentage is usually enough to maintain your standard of living without over-insuring. The exact amount you need will depend on your lifestyle, financial obligations, and whether you have other sources of income, such as a spouse’s earnings, employer benefits, or savings. 

If your expenses are high or you’re self-employed without group coverage, you may want to aim toward the higher end of the range. 

How does the cost of disability insurance differ in various Canadian provinces?

While the base cost of disability insurance in Canada stays fairly consistent, actual premiums can vary slightly depending on the insurer and province. On average, Canadians can expect to pay 1% to 3% of their annual income for coverage, though this may rise for higher-risk jobs or more comprehensive plans.

For example, if you earn $50,000 annually as a low-risk, younger applicant:

• In Alberta, typical disability insurance premiums range from $40 to $120 per month
• In British Columbia, disability insurance costs are similar, averaging $45 to $125 per month
• In Manitoba, the cost of disability insurance is slightly higher, usually $50 to $130 per month

Overall, premiums do not differ drastically between provinces, but local market factors and provider pricing can create small variations.

Does age affect disability insurance premiums in Canada?

Yes, age has a direct impact on disability insurance premiums in Canada. Insurers view younger applicants as lower risk because they are generally healthier and less likely to file a claim. As a result, someone in their late 20s or early 30s will usually pay much lower premiums compared to someone in their 40s or 50s for the same coverage.

Premiums typically rise as you get older, especially after age 40, since the chances of developing a disability increase with age. For example, a healthy 30-year-old professional might pay around $50 to $80 per month for a moderate long-term disability plan, while a 45-year-old in the same occupation could pay $120 or more for similar protection.

Applying earlier not only locks in lower premiums but also makes approval easier, since health issues that come with age can further increase costs or limit coverage options.

How can you save on disability insurance premiums in Canada?

Disability insurance can feel expensive, but there are several ways to keep costs manageable without sacrificing essential protection. Here are some proven strategies:

• Choosing longer elimination periods: The elimination period is the waiting time before your benefits begin. A policy with a 90-day or 120-day elimination period will cost less than one with a 30-day period. If you have savings or an emergency fund to cover short-term expenses, opting for a longer elimination period can reduce your premiums significantly
• Riders and add-ons: Riders like cost-of-living adjustments (COLA), own-occupation coverage, or future purchase options enhance protection but also increase costs. Before adding them, consider whether the extra security justifies the higher premiums
• Comparing quotes from different providers: Premiums can vary widely across insurers, even for applicants with similar profiles. Comparing quotes from multiple providers helps you find the most competitive rate. Working with an insurance broker (such as our experts at PolicyAdvisor) can simplify the process and uncover discounts you might miss on your own
• Applying at a younger age: Premiums increase with age, so applying in your 20s or 30s can lock in lower rates and ensure coverage before health issues develop
• Tailoring benefit amounts: While it’s tempting to ensure the maximum benefit possible, you may not need it. Choosing coverage that replaces 60–70% of your income keeps premiums affordable while still offering strong protection

How to get the best disability insurance quotes in Canada?

If you want the best disability insurance quotes in Canada, the first step is to compare options from different providers to find coverage that fits your financial needs.

PolicyAdvisor makes this simple by partnering with Canada’s leading disability insurance companies, giving you access to a wide selection of competitive plans all in one place.

With just a few quick questions online, you can get personalized disability insurance quotes in Canada. Once you’ve found the right plan, our licensed experts provide proper advice and ongoing support, so you fully understand your policy and remain protected over the long term.

Schedule a call with us today to safeguard your income against life’s uncertainties!

Does disability insurance cover mental health conditions?

Yes, many disability insurance policies in Canada cover mental health conditions such as depression, anxiety, or stress-related disorders, as long as they prevent you from working. However, coverage depends on the policy terms and medical documentation provided. 

Some insurers may impose waiting periods, exclusions, or stricter eligibility rules for pre-existing mental health conditions. Since mental health is a leading cause of disability claims in Canada, it’s important to review your policy carefully and ensure you have adequate protection.

What happens if I stop paying premiums?

If you stop paying your disability insurance premiums, your coverage will lapse, and you will no longer be protected. This means you won’t receive benefits if you become disabled in the future. In most cases, insurers allow a short grace period for missed payments, but if you don’t resume payments in time, the policy is cancelled. 

Reapplying later may require medical underwriting and could result in higher premiums or exclusions, especially if your health has changed since your original application.

Can I get disability insurance after a health issue diagnosis?

Yes, it’s still possible to get disability insurance after being diagnosed with a health issue, but your options may be limited. Insurers may charge higher premiums, exclude coverage for your specific condition, or offer reduced benefit amounts. 

The outcome depends on the type and severity of the diagnosis, your treatment history, and overall health. If traditional policies aren’t available, simplified or guaranteed issue disability insurance may be an option, though they often come with higher costs and limited coverage.

Is disability insurance tax-deductible in Canada?

In most cases, disability insurance premiums are not tax-deductible in Canada if you pay them personally. The benefit is that any income you receive from a personally paid policy is usually tax-free. However, if your employer pays the premiums for group disability insurance, the benefits you receive are considered taxable income. 

This makes it important to understand how your policy is funded. Paying your own premiums generally provides better after-tax protection, since you won’t have to share your disability benefits with the CRA.

Best disability insurance companies for remote workers in Canada

Not all insurance providers understand the unique needs of Canada’s growing remote workforce. However, top insurers, such as Manulife, Canada Life, RBC, and Desjardins, offer true own-occupation coverage, flexible underwriting for self-employed and contract workers, and policy features that support long-term income protection.

Top disability insurance providers for remote workers

Canada Life

Canada Life offers the Lifestyle Protection Plan, StartRight, and Upgrader Plus. These plans include non-cancellable contracts, true own-occupation coverage, and optional riders that allow policyholders to customize their protection. Canada Life is best for young professionals, new graduates, and business owners who are starting their careers.

RBC Insurance

RBC Insurance provides the Professional Series and Foundation Series. These plans feature own-occupation protection, partial disability benefits, and guaranteed renewability to ensure coverage remains secure over time. RBC Insurance is best for professionals and high-income earners who want strong and reliable long-term protection.

Desjardins

Desjardins offers the Solo Disability Income plan, which includes 24/7 medical assistance, family access, and flexible definitions of disability. These features make the plan adaptable to different work situations, including remote and self-employed roles. Desjardins is best for self-employed individuals and remote workers who need comprehensive coverage and additional support services.

Manulife

Manulife provides the Proguard and Venture Series. These plans offer own-occupation coverage, return-to-work assistance, and business overhead protection options for incorporated professionals and entrepreneurs.

Manulife is best for entrepreneurs and incorporated professionals who want both personal income protection and support for their business operations.

What to look for in a disability policy for remote workers

When evaluating disability insurance, Canadian remote workers should look for policy features that reflect their unique income sources, work environment, and long-term financial needs. The following features are the most important:

• True own-occupation means the policy pays full benefits if the insured cannot perform the main duties of their original occupation, even if they are able to work in another job. For remote workers, this ensures they do not lose benefits simply because they switch to a less demanding role
• Benefit period to age 65 provides long-term income replacement in the event of a permanent disability. This feature ensures that benefits continue until retirement age, protecting the insured’s financial stability throughout their working years
• Cost-of-living adjustment (COLA) increases disability benefits over time to keep pace with inflation. This prevents the insured from losing purchasing power during a long-term disability claim
• Partial or residual disability benefits provide income support when the insured can still work but has reduced capacity or earnings due to illness or injury. This is particularly valuable for remote workers who may return on a part-time or limited basis
• Waiver of premium means the insured does not have to pay policy premiums while they are receiving disability benefits. This ensures that coverage remains in force without creating extra financial pressure during a disability
• Rehabilitation and return-to-work support includes services such as vocational training, therapy, or workplace reintegration programs. These features help claimants gradually transition back into employment when possible
• Home-based work accommodation ensures that disability definitions and benefits recognize the realities of remote work. Policies with this feature account for flexible job settings and protect income even if the insured works primarily from home

What is the cost of disability insurance for remote workers?

Disability insurance should cost you between 1 to 3% of your annual income. So, if you make a salary of $50,000, you can expect to pay a premium of $500 to $1,500 each year. Remote work can lower premiums if classified as low-risk, but coverage features and income level significantly impact the final cost.

Factors affecting premium costs for remote workers

Several key factors influence premium calculations, and remote workers often benefit from favourable rating:

• Occupation class: Most remote knowledge workers fall into preferred occupation classes (Class 1 or 2), receiving the lowest premium rates due to lower physical risk exposure. A remote software developer pays significantly less than an on-site construction manager with similar income
• Age and gender: Premiums increase with age, with significant jumps typically occurring at ages 40, 50, and 60. Women generally pay higher premiums due to higher claim frequency for certain conditions, though the gap has narrowed in recent years
• Health status: Medical underwriting can significantly impact premiums. Remote workers with good health profiles benefit from standard rates, while pre-existing conditions may result in exclusions or rated premiums
• Coverage features: True own-occupation coverage adds approximately 15-25% to base premiums but provides crucial protection for specialized remote workers. Cost-of-living adjustments add another 10-15%, while partial/residual benefits typically increase premiums by 5-10%

Strategies to lower disability insurance premiums

Remote workers can employ several strategies to manage premium costs without sacrificing essential coverage:

• Annual vs. monthly premiums: Paying annually typically saves 8-12% compared to monthly payments
• Longer elimination periods: Extending the waiting period from 90 to 180 days can reduce premiums by 15-20%, suitable for remote workers with emergency funds
• Graded benefit periods: Some insurers offer policies with benefits that increase over time, reducing initial premiums while maintaining long-term protection

How to apply for disability insurance as a remote worker

Remote workers in Canada face a few unique steps when applying for disability insurance. Insurers require proof of stable income, medical history, and confirmation of remote work arrangements. Preparing the right documents in advance can help streamline the process.

Steps to apply for disability insurance as a remote professional

• Provide documentation of remote work: Applicants should submit contracts, invoices, or employer letters to confirm their remote employment status. Freelancers and contractors may also need to outline the nature of their work and client relationships
• Undergo medical underwriting: Most insurers require a health questionnaire. For higher coverage amounts, a medical exam or lab tests may also be necessary
• Verify income: For self-employed and contract workers, insurers typically request recent tax returns, T4A slips, or financial statements. Some may average income over the past 2–3 years to account for fluctuations
• Wait for underwriting approval: The full underwriting process usually takes several weeks. Applications involving variable income or complex medical histories may take longer

Does an employer’s group disability plan cover remote work?

Not always. Many group plans were designed before remote work became widespread. Some include exclusions or limitations for injuries or illnesses that occur outside of a traditional workplace. Remote employees should review their plan documents carefully and confirm with their HR department whether coverage applies when working from home. In some cases, coverage may require an additional rider or approval.

Can a remote worker get coverage as an international worker?

It depends on the insurer. Most Canadian disability insurance providers require the policyholder to reside in Canada for a set number of months per year—often at least six. Coverage may be denied or limited for individuals who work primarily abroad or live outside of Canada long-term. Remote workers who travel frequently or work internationally should confirm residency requirements before applying.

What happens if someone switches between remote and in-office work?

Switching work locations does not automatically void coverage, but it’s important to choose a policy with an own-occupation definition and individual portability. These policies continue to protect the insured regardless of location or employer, as long as the occupation remains the same. This flexibility is key for hybrid employees or contractors who may work in multiple environments.

How much does individual disability insurance cost?

Premiums for long-term disability insurance typically range from 1% to 3% of annual income. The exact cost depends on factors such as age, occupation, health status, waiting period, benefit amount, and benefit duration. Policies with additional features, such as cost-of-living adjustments, will cost more but offer stronger long-term protection.

Can someone get coverage with pre-existing conditions?

Yes, insurers may accept applicants with pre-existing medical conditions but often apply exclusions related to those conditions or charge higher premiums. For example, someone with a history of back pain may be covered for most disabilities but excluded from claims related to spinal or musculoskeletal issues. Full disclosure during underwriting is essential to avoid denied claims later.

How long does the disability insurance underwriting process take?

Underwriting typically takes three to six weeks. More complex cases, such as self-employed applicants, those with variable income, or individuals with medical histories may require additional documentation and time. The process includes a medical questionnaire, possible exams or lab tests, and financial verification.

We recommend Edge Benefits’ guaranteed issue critical illness insurance. They offer the highest amount of coverage for a guaranteed product with no medical exams or questions. These products are great for those who might not otherwise qualify for standard critical illness insurance products due to pre-existing health conditions.

Read our full review below to find out more about the company, which features they offer, and what we rate their critical illness insurance products.

Our Edge Benefits critical illness insurance review & rating

We give Edge Benefits a 5-star rating for their guaranteed critical illness insurance product. While it does not offer the same coverage maximums as a fully underwritten product, it offers the most coverage for a guaranteed product.

Edge Benefits is an insurance provider that partners with other insurance companies such as the Co-operators, Green Shield, Chubb, and Beneva. Edge Benefits offers its guaranteed issue critical illness insurance product through Chubb Insurance, who is known for specialty types of insurance. 

Edge Benefits also offers:

• Guaranteed life insurance 
• Disability insurance
• Travel insurance
• Accidental death & dismemberment (AD&D) insurance
• Loss of income insurance
• Business overhead expense insurance

Where to buy Edge Benefits Critical Illness insurance policies?

You can buy Edge Benefits Critical Illness insurance on PolicyAdvisor. Use our free quoting tool or click the button below to get personalized quotes instantly. And, you can also compare those quotes with some of the other best critical illness insurance companies in Canada.

If you would prefer to speak with a licensed insurance agent, we can help with that too! Our experienced advisors would be happy to speak with you and give one-on-one advice.

Edge Benefits critical illness insurance FAQ

Does Edge Benefit cover pre-existing conditions?

No. Edge Benefits critical illness insurance policies will not cover any pre-existing condition diagnosed before the policy’s effective date. However, you can still get coverage for other conditions, even if you’ve been diagnosed with a medical condition.

For example. if you have had paralysis before your policy’s effective date, the policy will not provide a payout if you are diagnosed with paralysis again. But if you were diagnosed with an eligible cancer, you would receive a payout.

Other companies may deny coverage altogether or may significantly increase your premiums if you have a pre-existing condition.

Is there a waiting period before claiming with Edge Benefits?

No. There is no standard waiting period for claiming a newly diagnosed critical illness.

However, if your newly diagnosed illness is related to a previously diagnosed illness. there is a 2-year waiting period.

Example: You were diagnosed with diabetes in childhood. You purchase a guaranteed critical illness insurance policy in your 40s.

❌ If your diabetes led to major organ failure WITHIN 24 months of the policy effective date, major organ failure is NOT covered.
✅ If your diabetes led to major organ failure AFTER  24 months of the policy effective date, major organ failure IS covered.

Can you claim a diagnosis more than once on a critical illness policy with Edge Benefits? 

Yes. For certain conditions, you can claim more than once. For example, if you buy a critical illness policy and are diagnosed with cancer a few months later the claim will be
paid. Then, if you go into remission, but the cancer returns 10 years later, a second claim would be paid out.

What is a Second Event Benefit with Edge Benefits?

A second event benefit is a secondary payout if you are diagnosed with one critical illness and then another after fully recovering from the first illness. Only heart attack and cancer qualify for second-event benefits.

For example, if you are diagnosed with cancer after the policy’s effective date, you will get your first payout. Then, if later you recover from the cancer, but suffer an un-related heart attack, you would get a second payout for the heart attack.

RBC critical illness insurance provides a financial safety net for individuals facing unexpected medical challenges. In this 2025 review, we’ll evaluate how RBC critical illness insurance can help protect your financial stability during a health crisis. Whether you’re seeking peace of mind or additional financial security, this review will guide you through everything you need to know about RBC’s offerings.

What are the key features of RBC’s critical illness insurance?

RBC offers two types of critical illness insurance plans tailored to meet diverse needs: the Critical Illness Insurance Plan and the Critical Illness Recovery Plan. Coverage amounts range from $10,000 to $2 million, providing flexibility to suit varying financial goals and protection levels.

The basic plan includes a Return of Premium on Death Benefit, offering refunds for all the paid premiums if the policyholder passes away while the policy is in force. Meanwhile, the Recovery plan stands out for its conversion feature, allowing policyholders to transition to a permanent plan without requiring proof of insurability.

Frequently asked questions

Can I customize the coverage amount in RBC’s critical illness insurance plan?

Yes, RBC allows you to choose from multiple benefit amounts, giving you the flexibility to select a plan that aligns with your financial needs and priorities. This ensures personalized coverage that suits your unique situation.

What happens if I don’t file a claim during my coverage term?

If no claim is filed during a 10-year term, the policy automatically renews until age 65, ensuring uninterrupted coverage without requiring additional medical assessments. RBC’s policy is designed for long-term protection, whether you make a claim or not.

Does RBC’s critical illness insurance policy provide coverage for early-stage illnesses?

Yes, RBC offers a unique feature where you can receive 10% of your benefit amount (up to $50,000) for certain early-stage illnesses, such as Early Skin Cancer or Early Thyroid Cancer. This partial benefit is paid without impacting the full coverage for future claims.

Are premium rates fixed throughout the policy term?

Premiums are guaranteed for each 10-year coverage term but may adjust at renewal based on factors affecting the group of policyholders with similar characteristics. However, RBC ensures individual policies are not singled out for rate increases.