SmartWealth Financial Incorporated

Menu
Book Your Appointment Now

Critical Illness Insurance Services
in Manitoba, Canada

When life throws you a curved ball, a critical illness insurance coverage ensures you’re financially protected. From cancer to heart attack, stroke, and more, we offer well-planned critical illness insurance policies that fully protects you from the financial risks of a serious illness.

Let us handle the complexities of critical illness insurance planning, while you’re rest assured, you’re fully covered!

Contact SmartWealth Now Learn More
gloved hand of young female assistant of surgeon s 2023 11 27 04 58 33 utc scaled

What is Critical Illness Insurance?

Critical illness insurance offers a tax-free payout upon a serious diagnosis. Your coverage is customized to specific conditions outlined in your contract, such as cancer, heart attack, or stroke.
Book an Appointment

Protect Your Future with Critical Illness Insurance Canada

Don’t wait until it’s too late – take action now to protect yourself against life’s unexpected challenges.
Reach out now and secure your financial well-being with critical illness insurance.
Schedule an Appointment
happy sick woman with woman doctor

How Does Critical Illness Insurance Work in Canada?

Critical illness insurance provides a tax-free lump sum benefit if you are diagnosed with a covered illness. The list of critical illnesses varies between insurance providers, so it’s vital to understand the specific conditions covered by your policy.

The substantial out-of-pocket expenses for certain treatments can significantly impact your finances, affecting your ability to cover your mortgage, living expenses, and educational costs.

If you face a critical illness, you may need private nursing care and multiple physical therapy sessions to support your recovery. Special medical devices might also be recommended to aid in your rehabilitation.

The lump sum benefit provided by critical illness insurance allows you to manage these financial burdens more effectively.

Provided the policy’s conditions are met, you can file a claim with the necessary documentation to receive the benefit. Remember that most policies have an initial waiting period before coverage begins for many conditions.

Book an Appointment

Why Do You Need Critical Illness Insurance?

Understanding the importance of critical illness insurance is vital in securing your financial well-being against unforeseen health challenges. Here’s why securing critical illness insurance is a wise decision for your future:

It’s More Common Than You Think

Even with our utmost efforts to maintain good health, unexpected health issues can affect anyone.

Cover Daily Costs

Critical illness insurance provides crucial support by covering daily expenses while you focus on recovery. Having financial assistance alleviates stress and lets you concentrate on your health.

Protect Your Retirement Savings

Critical illness insurance protects your retirement savings and investments by providing a separate financial cushion for unexpected medical expenses.

Focus On Your Recovery

Critical illness insurance relieves financial stress, which allows you to focus on recovery. With benefit payments covering living expenses, you can prioritize health without worrying about finances, ensuring peace of mind during tough times.

Book an Appointment

Secure Your Peace of Mind

Request a Critical Illness Insurance Quote Today

Requesting a critical illness insurance quote is simple. With just a few steps, you can take proactive measures to protect your future against life’s uncertainties.
Schedule an Appointment
sick woman with doctor qmkjmfpnrznwo48eyfgq4l8phgl4c3gkq11ue82vc8

What Does Critical Illness Insurance Cover?

Understanding what critical illness insurance covers is crucial before obtaining a policy. Each policy varies in coverage, but typically includes common conditions such as:
  • Cancer
  • Heart attack
  • Stroke
  • Blindness
  • Dementia
  • Multiple sclerosis
  • Organ transplants
  • Kidney failure
  • Paralysis
  • 17 others
Chronic conditions like fibromyalgia or asthma, pre-existing conditions, and those related to alcohol or drug use are usually not covered. Some policies might also need a medical exam as part of the application process.
Book an Appointment

The Benefits of Critical Illness Insurance in Canada

A critical illness insurance plan offers benefits: it provides a tax-free lump sum payment if you’re diagnosed with a covered critical illness.
This lump sum can be used however you see fit. You might use it to cover expenses not included in your provincial health insurance plan, like private nursing or medical equipment.
It can also help supplement lost income during recovery or protect your retirement savings by avoiding dipping into them. Remember, hope for the best but prepare for the worst.
Schedule an Appointment
hospitalized senior patient and

Pros and Cons of Critical Illness Insurance

Critical illness insurance offers both benefits and drawbacks that are important to consider when evaluating your insurance needs. Let’s break down the pros and cons of critical illness insurance in simple terms:

Pros of Critical Illness Insurance

  • Provides a lump sum payment upon diagnosis of a covered illness, usable for various needs.  
  • Premiums are typically low and affordable compared to traditional health insurance policies.  

Cons of Critical Illness Insurance

  • Some types of cancer and chronic illnesses might not be covered.
  • Recurrences of a critical illness might not qualify for a payout.
  • Coverage may cease or decrease at a specified age.
  • Policies may have narrow restrictions regarding covered conditions.

Let Smartwealth simplify the process for you and help you find the perfect coverage for your needs.
Book an Appointment

Why Choose Ramon Desiderio and SmartWealth’s Critical Illness Insurance Services in Canada?

We SmartWealth – your critical illness insurance provider, understand that life insurance is more than just a policy – it’s about protecting what matters most to you and your loved ones. Here’s why choosing us for your life insurance needs is the smart choice:

Personalized Service

We take the time to understand your unique needs and financial goals to customize a life insurance plan that fits you perfectly.

Expertise You Can Trust

With years of experience and expertise in the industry, our team is equipped to provide you with sound advice and guidance every step of the way.

Hassle-Free Process

We make the insurance process simple and stress-free. From initial consultation to policy selection and beyond, we handle all the paperwork.

Comprehensive Coverage

We offer a variety of coverage options to meet your needs and budget. You'll have peace of mind knowing you're protected no matter what life throws your way.

Ongoing Support

Our commitment to you doesn't end once you have your policy in hand. We're here to provide ongoing support and assistance whenever you need it.

Talk to an Advisor Today
and Get Started on Securing Your Future

We will guide you through the application process to make sure you understand your coverage options and find the right policy for your needs.
Schedule an Appointment
talking to the doctor

Where Can I Get Critical Illness Insurance?

You certainly have various options in getting a critical illness insurance policy. You can purchase it online or through your work plan, but a well-crafted critical illness insurance policy is one you get with an expert insurance advisor.

Choosing to work with SmartWealth means you’re not left alone in the process of planning your critical illness insurance coverage. Our dedicated living benefits team is ready to guide you in planning a comprehensive critical illness insurance policy – a more robust approach than simply buying a policy online.

Contact us today and start your journey towards acquiring peace of mind with our personalized critical illness insurance plan.

Book an Appointment with a SmartWealth Advisor

Frequently Asked QuestionsAbout Critical Illness Insurance

To qualify for a non-smoker rate, you must not have smoked any cirgarettes, including vapes in the past 12 months as of the date of your critical illness insurance application.
Depending on the type of policy chosen, your premium increases at each policy renewal. Say you choose a 10 year term policy, your premium increases every 10 years. Instead, you can get a term to age 75 critical illness insurance policy, which has a level premium amount up to age 75.
If you have a critical illness insurance from work, you may be able to convert it to an individual plan. Keep in mind however that converting a work plan into an indidual policy is usually more expensive than simply qualifying to an individual plan.
Critical illness insurance through a group policy doesn’t usually offer comprehensive coverage; you can enhance your protection by topping it up with an individual policy. Most work CI policies only work between 3 – 4 serious illnesses. A comprehensive critical illness insurance policy covers up to 26 illnesses.

Critical Illness Insurance Quote Form

Scroll to Top