One out of every three Canadians will experience a serious illness or disease during
their lifetime. Thankfully, modern medical advances mean many will survive. But
a severe stroke or a debilitating disease can drain resources — physical, emotional
Unexpected expenses such as special equipment, private nursing or even childcare
add to the burden.
BC Life helps restore security through a critical illness plan that provides a cash
payment when it is needed most. By easing the financial pressure, critical illness
coverage gives your employee financial stability and security should life take a
Critical Illness Insurance can be provided as a specific flat dollar amount to all employees through a “mandatory” critical illness plan,
or on an optional basis where employees can purchase coverage that meets their own unique needs, through payroll deduction. Depending on a group’s size, levels of optional critical illness coverage can be purchased without the need for completing a medical questionnaire. Both mandatory and optional Critical Illness Insurance coverage can also include coverage for the spouse.
When diagnosed with an eligible condition, the covered person is paid a lump sum
upon their approval of their claim. They can then use the money to help pay for
any expenses they have. This could be for private nursing or other medical care,
making modifications to their home, childcare costs, or however else they choose.
The point is they have the financial support when they need it the most so they
can focus on their recovery.
Our Critical Illness plans cover up to 23 critical conditions within four categories*:
Plus four Partial Payout Benefit conditions:
The plans also include multiple event coverage so that an employee can claim under more than one coverage category.
*Full definitions of the conditions are contained in the policy.