Standard Life Critical Illness: Analyzing Two Options

Critical Illness policies
from Standard Life
are pretty reasonable

(Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies).

Standard Life offers two types of Critical Illness policies for adults. Their basic Critical Illness policy covers four illnesses, while their Enhanced Protection Plan covers 24 illnesses. The basic plan is approximately 10% to 15% cheaper than the enhanced plan.

Standard Life is one of the only companies to offer a stand-alone children’s Critical Illness policy, covering 13 childhood illnesses. The Standard Life Critical Illness plan also includes a Partial Critical Illness benefit for less severe critical diagnoses, which pays out up to 10%, to a maximum of $50,000. This is a higher maximum than those offered by other partial critical illness plans available through competing insurance companies.

Standard Life offers a return-of-premium feature on its Term to 75 and Term 100 Critical Illness plans, with return-of-premium options starting in year ten. This is a major advantage compared to other Critical Illness carriers in Canada: most of these policies start their return-of-premium option dates after the 15th year.

For more details on Critical Illness in Canada, please contact us at 1-866-899-4849 or visit our Critical Illness Quotes Page.

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