Critical Illness Policies for Women in Canada

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Critical Illness insurance pays a lump sum if the insured is diagnosed with a critical illness, such as cancer. The number of illnesses considered critical can vary from carrier to carrier. The type of plan (Term or Permanent) along with plan riders — such as a return-of-premium if the insured stays healthy — can also influence the plan premium.

The following is a snapshot of Level Term to Age 75 Critical Illness coverage at $250,000. Level Term to Age 75 means that the insured will have a level premium to age 75, which is guaranteed never to increase. There is no return-of-premium. 

Males pay more than females for equivalent coverage, but the difference is not as pronounced as it is on Women’s life insurance policies.


A 40-year-old, male non-smoker with a $250,000 Level Term to 75 Coverage Annual Premium (the rates are as of Nov 2010)

Standard Life: $2,227.50.

Manulife: $2,566.67

Western Life: $2,587.50.

A 40-year-old, female non-smoker with a $250,000  Level Term to 75 Coverage Annual Premium

Standard Life: $2,140.00

Manulife: $2,287.78

Industrial Alliance: $2,302.50

For more details on Critical Illness Insurance for Women, or life insurance policies in Canada, please contact us at 1-866-899-4849 or visit our Critical Illness Quote Page.

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LSM Insurance
LSM Insurance

Hi Prasad,

Thanks for the note. The premiums will depend on your age, gender, smoking status , health, type of plan and the policy face amount.

Prasad
Prasad

Can you help me with what insurance I should buy Life or Critical Illness or Term or ?