Group Critical Illness and Disability Insurance Coverage

Posted on March 6, 2011 and updated January 10, 2013 in Canadian Life Insurance Companies, Group Benefits, Insurance Types, Life Insurance Canada News 2 min read
House of Commons
Group Critical Illness and Disability
Insurance Can Be a Big Decision

Group critical illness and disability insurance policies can be purchased through a broker or through an association. Group critical illness plans usually have a very limited maximum face amounts. Broker based plans are usually up to $100,000 and association plans are often capped at $50,000.  Individual Critical Illness policies can have face amount up to $2,000,000 but face amounts this high require full underwriting – meaning the insurance company verifies your health, family history and any life style issues. 

The same can be said on the disability side.  Group disability plans offer more limited benefits than Individual disability policies but individual plans must be underwritten.

On the choice between association and broker based plans.  Association plans may provide a better deal for some individuals or firms. But they also require the person or company to be a member of the association.  Broker based group plans also allow for one on one service and can offer a 16 month initial premium guarantee period.

For more details on group insurance in Canada, please contact us at 1-866-899-4849, or visit our Group Benefits Online Quotes Page.

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