CAA Critical Illness Insurance

The first step is to contact your advisor. If you are not satisfied with the information they provide, you can write to us. For more details, including contact information, please refer to our Complaint Handling and Dispute Resolution Policy.

• Families (parents or caregivers) with dependents
• Employees with limited or no employer group benefits
• Self-employed workers
• People with only basic health insurance
• People with limited savings

A critical illness refers to a serious and often life-threatening medical condition that is specially defined in the insurance policy. These conditions typically include major illnesses such as heart attack, stroke, cancer, organ transplant, kidney failure, and other severe medical events.

It's important to note that the specific illnesses covered as well as their definitions can vary significantly between different insurance providers. Potential policyholders should carefully review the policy terms, conditions, and coverage details to understand what critical illnesses are included, any waiting periods that might apply, and any exclusions or limitations.

Critical illness insurance is designed to provide you (and your family) with a financial safety net in the case of a severe health diagnosis. It can help you and your loved ones manage the financial burden associated with medical treatment, recovery, and lifestyle adjustments that often come with critical illnesses.

The specific illnesses covered by critical illness insurance can vary depending on the insurance provider and the terms of the policy. However, there are several common critical illnesses that are typically covered by most critical illness insurance policies, such as various cancers, heart attacks, and strokes. CAA Critical Illness Insurance covers 44 conditions, amongst some of the most comprehensive coverage in Canada.

Different insurance providers might have variations in coverage, so it’s best to consult with an insurance advisor to ensure you have a clear understanding of what’s included, and any specific terms in your policy.

The waiting period refers to the specific period of time that must pass after diagnosis of a covered critical illness before you can submit a claim. The waiting period varies depending on the insurance provider, the covered condition, and the terms of the policy. It typically ranges from 30 to 90 days, but it can be longer in some cases. With CAA Critical Illness Insurance, there’s no waiting period for more than half of the covered conditions.

The critical illness insurance benefit you could receive depends on the amount of coverage you chose when you activated your policy. Different insurance companies offer different coverage amounts. Typically, the amount of coverage offered is between $10,000 to $1M in Canada.

Critical illness insurance in Canada is typically provided as a lump-sum payment to the policyholder if they are diagnosed with a covered critical illness and meet the conditions outlined in the insurance policy.

Yes, you can always cancel your critical illness insurance. With CAA Critical Illness Insurance, you get a full refund on any premiums you’ve paid if you cancel within 30 days of the date you activated your critical illness policy.

If you cancel after the 30-day period, you’ll receive a prorated refund of the premiums you have prepaid and you won’t be charged any cancellation fees or penalties.

Certain conditions apply. The insurer reserves the right to choose the risks it underwrites.