Common questions

 

 

Why do I need Critical Illness insurance?

A benefits plan plays a vital role in protecting your health and financial well-being. But it may not cover every situation. For example, a critical illness can mean that:

  • Child care expenses may increase
  • In-home help or costly home or vehicle modifications may be necessary
  • Out-of-pocket travel expenses may be incurred in order to receive treatment
  • Some medical expenses may not be covered by government or private health plans

Critical Illness Insurance is designed to address these needs and reduce some of the financial stress of a serious illness.

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What illnesses are covered under my Critical Illness insurance plan?

Under this plan, you and your spouse are covered for the following 19 illnesses:

  • Alzheimer's disease
  • Aortic surgery
  • Benign brain tumour
  • Blindness
  • Cancer
  • Coma
  • Coronary artery bypass surgery
  • Deafness
  • Heart attack
  • Kidney failure
  • Loss of independent existence
  • Loss of speech
  • Major organ failure on waiting list
  • Major organ transplant
  • Multiple sclerosis
  • Paralysis
  • Parkinson’s disease
  • Severe burns
  • Stroke

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I have life coverage, why do I need Critical Illness insurance?

Life insurance is a benefit that is paid out to your beneficiaries when you die. Critical Illness insurance is a living benefit, meaning the illness does not have to be terminal, nor does the insured have to die, for the benefit to be paid. You receive the benefit payment, not your beneficiaries or dependents.

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 I have health coverage, why do I need Critical Illness insurance?

Unlike health benefits that cover specific eligible medical expenses, Critical Illness insurance helps pay for the extraordinary expenses you may incur. And you can use the money in any way you wish – for medical or non-medical purposes.

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 I have disability coverage, why do I need Critical Illness insurance?

Disability benefits replace your income over a period of time when you are not able to work due to a disability, but they may not be adequate to cover all the additional expenses that result from your illness. Critical illness insurance provides a lump-sum payment to help pay for those expenses. It is paid out regardless of your ability to work.

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What can I use the Critical Illness insurance payment for?

It’s up to you. There are no restrictions on how you can use the money. For example, you can seek alternative treatment; purchase specialized equipment; hire a nurse, housekeeper, or child care provider; or pay down your mortgage.

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 Will my disability benefit amount be reduced when the Critical Illness insurance benefit is paid out?

Disability and Critical Illness insurance are different benefits. The Critical Illness insurance benefit payment will not reduce your disability benefit amount.

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 Will my Critical Illness insurance benefit be reduced based on my illness or other benefits I have?

Upon approval of your claim, you will be paid the full amount of your Critical Illness insurance benefit. The amount will not be reduced due to the nature of your illness or other benefit you may receive.

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 What is a survival period?

The survival period is a specified time period the insured must survive following the diagnosis of a covered illness to qualify for a benefit payment. The survival period is usually 30 days unless specified otherwise.

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How is the Critical Illness benefit paid?  Will it be paid if I survive?  What if I die?

The critical illness benefit provides a one-time, lump-sum payment. The payout does not depend on your survival or death; it is paid once you have satisfied the survival period and the claim is approved.

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 When does my Critical Illness insurance become effective?

Your coverage will become effective on the first of the month following the approval of your application.

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 If I am diagnosed with one covered illness, and am then diagnosed with another, will I be paid for both illnesses?

No. The Critical Illness insurance benefit is payable once, and for the first covered illness only, at which point your coverage ends.

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 What do I do in the event that I am diagnosed with a critical illness and I want to make a claim?

Contact Sun Life Financial’s Group Benefits’ Customer Service unit toll-free at 1-800-669-7921, or at 416-408-7390. A Customer Service Representative will send you a claim form for completion.

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