Provincial health covers your treatment — but not your salary, your mortgage, your spouse's lost income from caregiving, or out-of-province experimental treatment. Critical illness insurance pays a tax-free lump sum (up to $500k) on diagnosis. You decide what to do with it.
Conditions list varies by insurer. Most cover 25 "core" conditions. Some premium policies cover 40+. ALWAYS check the specific definitions — "heart attack" has a precise medical definition (troponin levels, etc).
6 months off work + $3,000/mo mortgage = $18k. Lump sum gives you breathing room.
Your partner takes leave to care for you. Their income vanishes. Lump sum replaces it.
Experimental treatment in US/EU. Provincial health won't pay. Lump sum funds it.
Wheelchair ramp, stair lift, accessible bathroom. Stay independent in your home.
Many new cancer drugs aren't on provincial formularies. $5k-$15k/month out of pocket.
Most claims use the money for "life expenses." No restrictions. Tax-free, your call.
You must survive 30 days post-diagnosis to claim. If you die earlier, payout goes to your estate via life insurance instead (one reason to have both).
Most policies exclude cancer diagnosed in the first 90 days after policy start. Buy when healthy.
Just chest pain or "cardiac event" isn't enough. Insurer requires specific troponin levels + ECG changes. Mild events may not qualify.