Critical Illness Insurance

This is what a typical critical illness contract looks like.
Product Overview	Provides a cash benefit if a covered condition is diagnosed. This benefit can provide financial options to help with recovery.
Target Markets	Individuals with diverse needs such as: mortgage or debt protection supplementing gaps in disability insurance protection asset preservation
Premium Structure	Primary - level to age 65 10 or 20-year Renewable to age 75 Level to age 75 Permanent - level to age 100, or level for 15 years Premiums are fully guaranteed.
Issue Ages (age nearest)	Primary: 18 - 55 10-year Renewable: 18 - 60 20-year Renewable: 18 - 54 Level: 18 - 60 Permanent (pay until age 100): 18 - 60 Permanent (pay for 15 years): 18 - 55 Special quote available for ages 61 - 65 on 10-year Renewable and Permanent (pay until age 100), and for ages 61 - 64 on Level.
What Triggers Payment of Benefits?	Diagnosis of any one of the following covered conditions, subject to survival of a waiting period: Primary: heart attack, cancer (most malignant types), stroke, coronary bypass All other plans: heart attack, cancer (most malignant types), stroke coronary bypass, Alzheimer's disease, aortic surgery, benign brain tumour, blindness, coma, deafness, heart valve replacement, kidney failure, loss of limbs, loss of speech, major organ transplant (recipient or on waiting list), motor neuron disease, multiple sclerosis, occupational HIV, paralysis, Parkinson's disease, severe burns
When Does Payment Begin?	After survival of a waiting period is completed - usually 30 days following diagnosis (longer for some conditions).
How are Benefits Paid?	One-time cash benefit.
Benefit Maximum	Policy face amount to a maximum of $2,000,000 per insured. Coverage bands: $25,000 - $99,999 $100,000 - $249,999 $250,000 - $499,999 $500,000 +
Standard Benefits	Early Intervention Benefit of 25% of coverage to a maximum of $50,000 for early prostate cancer, ductal carcinoma in situ of the breast and coronary angioplasty Recovery Benefit provides advance of up to 10% of coverage to a maximum of $10,000 to allow more rapid access to funds Multi-life and Mult-coverage - one policy can cover several insureds and each insured may have more than one Lifecheque coverage (e.g. Permanent and 10-year Renewable) 10 or 20-year Renewable coverage may be switched to a Level or Permanent coverage at attained age rates, guaranteed rate scale for first 5 years Recovery Care Program - Best Doctors^® service at time of claim (non-contractual)
Optional Riders (age restrictions may apply)	Return of Premium on Death (ROPD) provides return of premiums if death occurs before benefits are payable Return of Premium with early surrender options (ROPS) available on Level and Permanent plans, provides refund of 100% of eligible premiums on surrender after 15 years Return of Premium at Expiry (ROPX) available on Primary and Level plans, provides refund of 100% of eligible premiums at expiry Waiver of Premiums on Disability Children's Lifecheque Rider (CLR) covers each eligible child of the insured for 13 juvenile conditions