Heather Freed

Strengthening Your Safety Net with Critical Illness Insurance

Risks are inevitable. In insurance, we talk risks a lot, because we specialize in building the safety net you need to protect against their financial consequences. Take our Quiz to test your knowledge on the likelihood of some commonly known risks actually occurring.


What’s the risk of causing a serious injury in a car accident this year?
1 in 3
1 in 376
1 in 1,112
1 in 4,830
1 in 14,243
In Canada, every driver is required to carry liability insurance in the event that they seriously injure someone in a car accident.
What is the risk of a experiencing a house fire this year?
1 in 7
1 in 14
1 in 215
1 in 755
1 in 1,165
Financial institutions insist on proof of home insurance against things like housefire in order to provide a mortgage.
What’s the likelihood of a healthy male, aged 40 dying before age 65?
1 in 12
1 in 77
1 in 123
1 in 547
1 in 829
In Canada it is estimated that 44% of Canadian households own personal life insurance E to insure against the risk of significant loss to their household’s standard of living.
In every age group, age 15 and older, which of these is most likely to experience a disability?
Men and women alike insure against the risk of lost income and change of lifestyle that can result from a disability. (Chances of a disability are approximately 1 in 4 F between the ages of 45 and 64.)
What are the chances of surviving a heart attack?
Canadians are living longer and surviving critical illnesses at higher rates. But with a significant chance of experiencing a critical illness in your lifetime (1 in 4 for men and 1 in 5 for women H), does your safety net cover the associated economic risks?

Click through the other tabs for some perspective and information on one commonly known risk, critical illness, and contact our office to learn how to strengthen your safety net to protect against its financial impact in your own life.


A. Government of Canada website – Canadian Motor Vehicle Traffic Collision Statistics: 2020 (canada.ca) - Date modified: 2022-02-01

B. Statistics Canada, Census of Population, 2016 – 2016 Census Topic: Type of dwelling (statcan.gc.ca) - Date modified: 2022-02-08

C. Table 35-10-0192-01 Incident-based fire statistics, by type of fire incident and type of structure (statcan.gc.ca) - 2022-03-28

D. Government of Canada website – Life expectancy and other elements of the complete life table, three-year estimates, Canada, all provinces except Prince Edward Island (statcan.gc.ca) - Date modified: 2022-03-28

E. LIMRA website – Individual Life Insurance Ownership Up Slightly in Canada - 2020-12-22

F. Statistics Canada website – A demographic, employment and income profile of Canadians with disabilities aged 15 years and over, 2017 (statcan.gc.ca) - Date modified 2018-11-28

G. Verywellhealth.com – Heart Attack Survival Rate: How to Survive a Heart Attack (verywellhealth.com) - Updated 2022-02-18

H. Manulife InsureRight – What is your risk? - Critical illness probability based on combined incidence rates for Cancer (“New cases for ICD-03 primary sites of cancer: 2002-2007”) and the Heart and Stroke Foundation of Canada (“The Growing Burden of Heart Disease and Stroke in Canada, 2003”).

What is Critical Illness Protection?

You can protect yourself against the financial impact of a serious condition with critical illness insurance. It pays a lump sum benefit upon diagnosis of a covered medical condition. Individuals must typically survive the condition for 30 days to qualify for a claim. The entire amount insured is paid out in a single lump sum, and then the policy expires.

Sample Covered Conditions List

  • Heart Attack
  • Cancer
  • Stroke
  • Coronary Artery Bypass Surgery
  • Multiple Sclerosis
  • Alzheimer’s
  • Parkinson’s
  • Motor Neuron Disease (i.e. ALS)
  • Major Organ Transplant
  • Renal Kidney Failure
  • Paralysis
  • Coma
  • Blindness
  • Deafness
  • Loss of Speech
  • Severe Burns
  • Loss of Limbs
  • Occupational HIV
  • Benign Brain Tumour
  • Aortic Surgery
  • Heart Valve Replacement
  • Loss of Independent Existence

Return of premium on death and expiry are available on many policies. These entitle the policyholder to a full or partial refund of premiums paid, either at death or when the policy is cancelled/matures.

Each plan offers its own unique combination of features and benefits, most include a very similar list of covered conditions, and all include a lump sum benefit if critical illness strikes. But how much coverage does someone need? Click through the other tabs to get some perspective or contact our office to learn more.


Try our calculator and consider the potential financial implications and expenses that can be associated with a critical illness. Regardless of the estimates you include, if you receive a lump sum critical illness benefit, it’s yours to do with as you see fit.

Contact our office to learn more.


A critical illness is one of the most likely events to occur among insurable risks.

Strengthen your safety net with protection against the financial consequences of a critical illness.