(Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies).
Critical Illness Term to 75 coverage provides level premiums and pays out a Lump Sum Benefit should the insured be diagnosed with a listed Critical Illness and survive the waiting period under the policy. The plan has level premiums to 75, and depending on the carrier can have a variety of riders, including a return of premium-on-expiry if the insured remains healthy to age 75. Also, a return-of-premium on death is available if the insured dies from a non-related Critical Illness.
Although the number of Critical Illnesses and definitions can vary from company to company, the following is a snapshot of pricing for a 30-year-old, male non-smoker applying for $250,000 of Critical Illness Term to 75 coverage.
1. Standard Life Protecta 75 is $120.60 a month.
2. Western Life Approve T-75 blend is $138.60 a month.
3. Manulife Insurance’s LifeCheque Level to 75 is $142.50 a month.
4. Wawanessa Life Lifestyle Adjustment Level T-75 is $147.83 a month.
5. Industrial Alliance‘s Transition T-75 is $148.50 a month.
6. Standard Life’s Protecta 75 Enhanced is $148.95 a month.
7. BMO Insurance‘s Living Benefit 75 is $150.75 a month.
8. RBC Insurance‘s Term 75 Non-Cancelable is $162.78 a month.
For more details on Critical Illness policies in Canada, please contact us at 1-866-899-4849 or visit our Critical Illness Quotes Page.