Critical Illness Insurance for Children

Coping with the illness of a child can be an emotional rollercoaster and is one of the greatest challenges any family can face. A serious illness afflicting your child could also drain your finances at a time when your focus should be on your family. The proper insurance can help you plan for lost income and unexpected healthcare, travel or household expenses.

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What are the benefits of purchasing coverage for your child at a young age?

  • Tax-free financial support in case of critical illness
  • Medical expertise in case of critical illness
  • Coverage which adapts into adulthood, no medical questions asked
  • Low cost that is locked-in for the duration of the policy
  • Cash back without cancelling the policy
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What is Child Critical Illness?

Many serious conditions are commonly diagnosed at a young age, such as:

  • Cerebral palsy
  • Congenital heart disease
  • Cystic fibrosis
  • Muscular dystrophy
  • Type 1 diabetes mellitus

Critical Illness Insurance provides a tax-free lump sum payment in case of diagnosis of a critical condition listed in the policy to help support your family during this difficult time.

Best Doctors® services are also included to help you better understand your child’s diagnosis, treatment options, and allow you to make informed decisions about your child’s health.

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How can the proceeds of a Child Critical Illness policy be used?

  • Allow a working parent to take time off work to care for the child
  • Pay for childcare services for other children when diverting efforts towards caring for a sick child
  • Pay for experimental treatment or any medical expenses not fully covered by provincial healthcare or a group insurance policy
  • Pay for non-medical expenses such as hospital parking, or flights and hotels when traveling for care

You are not required to present receipts or explain how proceeds will be spent. Sums can be used in any way desired.

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What if my child doesn’t get sick?

As a parent, you hope you’ll never have to claim a Critical Illness benefit for your child. Return of Premium is an option that allows you be reimbursed the premiums you’ve paid in various situations, for example upon policy cancellation or in case of death. An interesting option is to have 75% of the premiums you’ve paid for the policy be reimbursed if a claim hasn’t been made on or before your child’s 25th birthday (or the 15th policy anniversary, if later). Your child will continue to remain insured throughout adulthood for a long list of critical illnesses and the refunded premium can be used to jump start your child’s financial future, such as putting a down payment on a first home.

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How it Works

We’re parents too and we know life can be hectic. That’s why we’ve designed an easy, streamlined approach to buying child critical illness:

  • Submit some basic information about yourself (your data remains 100% confidential)
  • A licensed advisor may contact you to validate your information and needs. We are members in good standing of the Autorité des marchés financiers, the Chambre de sécurité financière, and the Financial Services Regulatory Authority of Ontario
  • You receive our easy-to-understand quote by email within 24 hours
  • You can contact us by telephone, email or video-conference to discuss any questions you have about our quote, as many times as you would like
  • If you decide to purchase critical illness insurance, we will guide you through the application process step-by-step
  • There is no obligation to purchase and you will not incur any costs if you decide not to purchase
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Complete this form to receive your child critical illness insurance quote.

We hate spam as much as you do. Your information will not be shared or used for any other purpose than to contact you in response to your request for a critical illness insurance quote. You will receive your quote by email within 24 hours. Note: This service is presently only offered to residents of Quebec and Ontario.