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In simple terms, critical illness insurance provides a tax-free lump-sum payout from the insurance company if you are diagnosed with a serious illness. It serves as an important supplement to government healthcare coverage and has increasingly gained attention from the public.

By paying a small monthly premium until age 75, the policyholder is covered for over 20 major illnesses listed by the insurance company. If diagnosed with one of these illnesses before age 75, a one-time payout is made, ranging from CAD 100,000 to CAD 500,000.

If you remain healthy and reach age 75 without suffering any major illness, the insurance company refunds all premiums paid, dollar for dollar. This plan ensures: claim if ill, full refund if healthy.

Statistics in Canada highlight the risk of major illnesses:

• 1 in 4 people may develop heart disease

• 1 in 3 people may develop some form of cancer

• Approximately 50,000 people suffer a stroke each year, with patients becoming increasingly younger

• Age distribution of claims: 31–40 years old: 29%, 41–50 years old: 38%

Your need for insurance is not just about protecting life—it’s about ensuring you can continue living. In Canada, medical treatment for critical illnesses can be delayed. Many patients prefer to return to China for timely treatment if they can afford it. Without sufficient funds, patients may face long waits in the Canadian healthcare system.

Critical illness insurance provides financial protection for patients diagnosed with major illnesses, covering medical, care, rehabilitation, family expenses, and debt repayment needs.

This insurance also offers a premium refund feature: if no claims are made by the policy’s maturity, all premiums are fully refunded. It is a plan that protects both you and your family, offering compensation in case of illness and a full refund if no claims are made.