Financial impact of a serious illness for 1 year:
The power of being prepared
A serious illness can change your life. But if you’re financially prepared, you can spend less of your energy worrying over paying the bills, and more on your recovery.Learn more about critical illness insurance
The best coverage for you
Other helpful insurance resources to consider:Do you need critical illness insurance?
An advisor can help you protect yourself and your family from the costs of a serious illness. Review your results with an advisor to learn which coverage is right for you.Send your results
REVIEW YOUR RESULTS WITH AN ADVISOR
An advisor can help you determine the right coverage to protect your family and your finances.
Review your results with an advisor to learn which kind of critical illness insurance coverage is right for you.Find an advisor
GET A CRITICAL ILLNESS INSURANCE QUOTE
You can buy critical illness insurance online or with help from an advisor.
Be sure to compare critical illness insurance products so that you understand all of your options.Compare critical illness insurance products
This includes any existing critical illness insurance coverage that you have, including group critical illness insurance coverage through your employer or mortgage insurance.
This is the amount you’d need to cover day-to-day expenses during your recovery, such as utility bills and groceries. Remember to take into account any disability benefits you may receive.
Do not include other monthly expenses such as mortgage payments, property taxes, savings contributions and other debt payments.
This includes monthly contributions to your tax-free savings account (TFSA), registered retirement savings plan (RRSP), registered education savings plan (RESP) or other savings accounts.
It’s very important to factor in the effects of inflation when you’re thinking about how much critical illness insurance you may need. That’s especially true since the cost of health care is increasing faster than the overall cost of living.*
Speak to an advisor to help you plan for the protection you need now and in the future.*Source: AON Canada Global Medical Report 2018
This is how long it might take before you can return to work full time. This will depend on the illness you’ve been diagnosed with, your age and your preferences for returning to work.
Illnesses such as Parkinson’s disease and multiple sclerosis will likely affect your ability to work for the rest of your life. And while you may recover from other serious illnesses, such as a heart attack, you may not be able to return to work full time.
This is the lump sum amount of income your spouse or partner would lose if they want or need to take time off work to care for you as you recover from a serious illness. For example, if your spouse/partner took a month off to care for you, then this would be the amount of lost income for 1 month.
These are expenses not covered by your provincial health insurance or employer health benefits. They will vary according to the illness you are diagnosed with. Depending on your provincial and employer plans, health-care expenses could include items such as drug costs, private or semi-private hospital rooms, rehabilitation costs, deductibles, ambulance fees, in-home care and costs above coverage limits.
This could include travel for out-of-town treatment, home renovations for wheelchair accessibility and equipment such as hospital beds, as well as expenses for child care and housekeeping while you’re recovering. It could also include any income your spouse might lose by taking off time to look after you.
This includes the estimated monthly payment you would receive from your disability insurance coverage were you to become seriously ill and unable to work. This is usually a percentage of your current before tax income.
Leave this amount at zero if you do not have disability insurance coverage.
Sun Life offers two types of critical illness insurance products to meet your needs. You can buy Express Critical Illness Insurance online and Sun Critical Illness Insurance only with help from an advisor.
Be sure to compare critical illness insurance products so that you understand all of your options. If you’re not sure or have questions, speak with an advisor.Compare critical illness insurance products