Cancer Insurance

Cancer can strike anytime and is also the leading cause of death in Canada surpassing cardiovascular disease.  Two out of five people will develop cancer during their lifetimes.On average, more than 500 Canadians are diagnosed with cancer every day.  In recent years, the survival rate has increased and 62% of people are now expected to survive after five years.1

Cancer Insurance is a guaranteed issue product that covers you for up to $100,000 in the event of a cancer diagnosis. No medical exam is required.


You must:

  • be under 65 years of age at the time of purchase
  • answer two eligibility questions (coverage up to $25,000)
    • In your lifetime, have you ever been diagnosed with acquired immunodeficiency syndrome (AIDS) or tested positive for the human immunodeficiency virus (HIV)?
    • Do you have, have you ever had, have you noticed signs or symptoms for which you have not consulted a physician yet, or are you waiting for a test or test results for any form of cancer or malignant tumour?
    • In your lifetime, have you ever been diagnosed with cancer or a malignant tumour, had signs or symptoms of cancer, consulted a physician or undergone tests showing abnormal results for cancer; are you awaiting a test for cancer or have you had a test for cancer and awaiting the results?
  • answer two additional questions (coverage up to $100,000)
    • In the past two years, have you had an application for critical illness or cancer insurance declined or postponed by any insurance company?
    • Have two or more members of your immediate family (father, mother, brothers and sisters) suffered from or been diagnosed with cancer before the age of 60?

Additional Coverages

You can purchase additional coverages for more comprehensive protection.

Prevention Rider

For an additional charge, a benefit equal to 50% of the sum insured, up to a maximum of $25,000, will be payable for the following cancers:

  • Skin Cancer (Malignant melanoma in the dermis equal to or lower than a depth of 1.0 mm)
  • Breast Cancer (ductal carcinoma in situ of the breast)
  • Stage A Prostate Cancer

A single Prevention benefit will be payable for the entire life of the policy. The sum insured will be reduced by the amount of the benefit paid.

Critical Illness Rider

For an additional charge and additional eligibility requirements, you can top up your cancer insurance by adding the following critical illnesses:

  • Stroke (cerebrovascular accident)
  • Coronary Artery Bypass Surgery
  • Heart Attack (myocardial infarction)
  • Paralysis
  • Coma
  • Juvenile critical illnesses
    • Type 1 Diabetes Mellitus
    • Muscular Dystrophy
    • Cystic Fibrosis
    • Congenital Heart Disease
    • Cerebral Palsy

The diagnosis must be made prior to the attainment of age 25 in the case of juvenile critical illnesses. Please refer to the policy for details concerning limitations and exclusions.

Return of Premium Rider

For an additional charge, for those who are between 0 and 55 years of age, the Return of Premium Rider can be added to the policy and:

  • a full refund will be made of all premiums paid upon death and up to 50% of all premiums paid when the Insured reaches their 75th birthday less any claim payments
  • Once purchased, the Return of Premium benefit cannot be cancelled separately.


  • Benefit payable upon diagnosis
  • Benefit payable in a single lump sum
  • Guaranteed renewal
  • No medical exam
  • Non guaranteed premium: T10, T20 & T75

1 Source:  Canadian Cancer Society – Canadian Cancer Statistics, 2012