Canada Life’s Disability and Critical Illness Plans: Two Needs, One Discount

canada life
Canada Life’s Dual Solutions premium reduction allows clients to satisfy two separate needs and receive a 5% discount on each product. Depending on the size of the policies, this can translate into significant savings.

Critical illness insurance pays out a lump sum tax-free payout if the insured is diagnosed with one of the listed illness—this money can be used to cover one-time out-of-pocket expenses, such as home renovations or medical treatments outside of Canada.

Disability insurance is used as an ongoing income replacement vehicle. Separate needs often require separate solutions, and the Dual Solutions premium reduction makes solving this need more affordable.

There are certain exclusions:
  • Premium reduction is only available if both policies are taken out simultaneously
  • It is not available on critical illness conversions
  • It is not available on disability future insurability options
  • It is not available with any other premium reduction programs

37 Responses to “Canada Life’s Disability and Critical Illness Plans: Two Needs, One Discount”

  1. looking for illness / disability insurance. I am age 40 and self employed

    Elbert Beekman thought on April 6th, 2008 8:33 am

  2. looking for illness, disability and life insurance. I am age 49 female, smoker. I am a truck driver. In good health.

    September 18th, 2008

    sylvie thought on September 18th, 2008 10:36 am

  3. Hi Sylvie,

    Thanks for your note. I’m happy to help out. Since this is an open forum I will send you a seperate email and you can let me know your city, province and the best time to reach you.

    Regards … Lorne

    lorne thought on September 18th, 2008 3:34 pm

  4. Cancer survivor (Lymphomas - non-hodkins agressive) 4 years clean would like disability insurance and major illness coverage. Is it possible at a reasonable price?

    Gerry thought on September 25th, 2008 5:20 pm

  5. Hi Gerry,

    Thanks for the note. I will send you an email and see if I can get some details. Regards … Lorne

    lorne thought on September 25th, 2008 9:31 pm

  6. Hi,

    Kindly provide me with monthly rates for a combined plan for critical illness/dissability insurance, I just turn 56 last september, i am in good general health, I am non-smoker for the past 8-10 years, I am into long walks and swimming, I wight 130 lbs and my height is 5′1″

    Ana Maria.

    ana maria thought on October 30th, 2008 12:50 pm

  7. Thanks Ana Maria. I will be in touch with a quote via email shortly. Regards … Lorne

    lorne thought on October 30th, 2008 3:47 pm

  8. would like a quote on term life insurance for term 20 years and also I dont feel I have enought disablity insurance working for government as I raise 5 kids, mortgage,credit card, etc.. so looking at the duel critical/disability coverage payment plan, just in case as I am getting older.. I dont smoke and am 41 years old, still a Correctional Officer after 20 years and continue to train as a black belt, so in pretty good shape…thanks…Tony

    Tony thought on December 17th, 2008 12:02 am

  9. Hi Tony,

    Thanks for the note. That’s fantastic that you are still able to work out at a black belt level with 5 kids. I’m happy to help out with a quote I will send you a seperate email.

    Regards … Lorne

    lorne thought on December 17th, 2008 9:16 am

  10. hi,
    looking for a quote on disability/critical illness insurance

    Kelty thought on March 19th, 2009 12:53 am

  11. Hi Kelty,

    Thanks for the note. I’m happy to help out. I’ll send you a seperate email now. Regards … Lorne

    lorne thought on March 19th, 2009 10:35 am

  12. Hello, Im looking for a quote on disability/critical illness insurance for myself and or my wife.

    Dean thought on March 23rd, 2009 11:29 am

  13. Thanks for the note. I will send you an email shortly. Regards … Lorne

    lorne thought on March 23rd, 2009 12:01 pm

  14. Hi,
    I live in Ontario-Canada, I work as a Chef and I am looking for critical ilness and/or disability insurance. My income is seasonal, $ 50.000 for 6 month. Could you give me a couple of quotes for critical ilness and disability insurance and one quote for both together ?
    Thanks,
    German

    German Obes thought on May 26th, 2009 10:29 am

  15. Hi German,

    Thanks for the note. I will send you a separate email shortly - I am happy to help out.

    Regards … Lorne

    lorne thought on May 26th, 2009 11:28 am

  16. Hi, I am a self-employed carpenter (54), non-smoking) male working in Nova Scotia and I install interior stairways only. I do not do any other kind of carpenter work, that is my specialty. I earned $35000.00 last year and am looking for a Disability Quote for a own-occupation policy and one for Disability/Critical Ilness combined. Thanks.

    David thought on July 15th, 2009 9:29 am

  17. Hi David,

    Thanks for the email. We are happy to help out.

    We will send you a separate email shortly. Regards,

    lorne thought on July 15th, 2009 12:41 pm

  18. Hi, 24 years old, non smoker female working full time. Interested in critical illness plan, coverage $100, 000, permanent insurance till 75, with payout at death or at Age 75 and disability waiver. Plan must cover the 21 common illnesses. Please let me know how much it will cost per year. Thanks!

    Lisa thought on September 27th, 2009 8:02 pm

  19. Thanks for the note. $100,000 Term to 75 with return of premium on death or expiry for an age nearest 24 year old female non smoker is $47.22 a month.

    lorne thought on September 27th, 2009 9:18 pm

  20. Hi, I’m intersted in getting two quotes, one for my self and one for my Fiance. Disability insurance as a worker and for an Owner. Probably with an add on or two.

    Doris thought on December 11th, 2009 4:18 pm

  21. Hi Doris,

    Thanks for the note. I’m happy to help out and will be in touch with you by email soon.

    lorne thought on December 12th, 2009 11:26 am

  22. Hi

    I am a 51 year old male in Ottawa. Currently have some life insurance with CAA but would like a quote for larger policy for life insurance plus disability insurance. I am non smoker in good shape.

    Richard thought on January 11th, 2010 6:28 pm

  23. Hi Richard,

    Thanks for the note. I’m happy to help out. I will send you a seperate email now. Thanks … Lorne

    lorne thought on January 11th, 2010 7:25 pm

  24. Hi

    I am a 51 year old male in Toronto. I would like a quote for a disability insurance ($2500/month). I am non smoker in good shape.

    Mauricio thought on January 21st, 2010 11:55 am

  25. Thanks Maurico. The benefit period, elimination and any options among other things will determine your premium.

    I’ll send you a separate email shortly.

    lorne thought on January 21st, 2010 3:28 pm

  26. Are these benefits taxable?

    Ray thought on January 25th, 2010 3:52 pm

  27. Thanks for the note. Premiums paid with after tax dollars will produce a tax free benefit. Regards …

    lorne thought on January 25th, 2010 4:28 pm

  28. looking for disabilty insurance - self employed heavy equipment mechanic 43 years old nosmoker

    ken thought on February 18th, 2010 11:00 pm

  29. Thanks for the note - I’m happy to help out.

    I will send you a separate email. For the quote we would need to verify your net income per year and the amount of coverage and type of disability plan you are looking for. Regards … Lorne

    lorne thought on February 19th, 2010 1:26 pm

  30. Wonderful, it is a honor to read your article here, i like you post very much, thank you for taking your time to this!

    Coach Purses thought on April 8th, 2010 8:28 pm

  31. Thanks for the kind words!

    lorne thought on April 9th, 2010 11:15 am

  32. Would like a info and a quote on critical illness and disability insurance for my husband and myself. He is self employed as a welder/farmer and I am a housewife. He is 54 and I am 50. Neither of us smoke but he is in good shape but has asthma.

    Sharon thought on May 14th, 2010 1:18 pm

  33. Hi Sharon,

    Thanks for the note. We are happy to assist - disability insurance will be difficult to obtain without earned income but Critical illness could be a good option.

    We’ll send an email now. Thanks … Lorne

    LSM Insurance thought on May 14th, 2010 2:03 pm

  34. My partner and I are considering disability; critical illness insurance as an addition to our current life insurance - both being aimed towards paying off the mortgage. Was hoping for a quote for us both. What information do you require? Many Thanks. Kelly

    Kelly thought on June 15th, 2010 4:31 pm

  35. Hi Kelly,

    Thanks for the note we are happy to help. The premiums will depend on your:

    Date Of Birth
    Gender and Smoking Status
    Health
    Type of Plan
    Amount of Coverage
    Occupation and Annual Income (for disability insurance)

    We will send you a separate email now. Regards,

    LSM Insurance thought on June 15th, 2010 5:03 pm

  36. I’m looking for disability and critical illness insurance in … . Give me a shout when you can please.

    Matthew thought on June 28th, 2010 9:31 am

  37. Hi Matthew,

    Thanks for the note. We are happy to assist and will send you email now.

    LSM Insurance thought on June 28th, 2010 1:23 pm

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