This video will help you understand what is the critical illness insurance in s few minutes.

This is not a recommendation, although BMO is a leader insurance provider. We will help you find the most product fits with your insurance needs at the purchase time

What is Critical Illness Insurance?

Critical Illness (CI) Insurance is a type of coverage that provides a lump-sum payment if the policyholder is diagnosed with a serious illness covered by the policy. This financial support can be used for medical expenses, daily living costs, or any other needs during recovery.

Why Consider CI Insurance?

Life is unpredictable, and a critical illness can strike at any time, often bringing significant financial strain. Here are some compelling reasons to consider CI insurance:

- Financial Security: CI insurance helps cover the high costs associated with serious illnesses, such as cancer, heart attack, or stroke.

- Flexibility: The lump-sum payment can be used for any purpose, whether it’s medical bills, mortgage payments, or even alternative treatments.

- Peace of Mind: Knowing you have financial support allows you to focus on recovery without the added stress of financial worries.

There are different types of the CI:

  1. Basic CI Insurance: Covers a limited number of critical illnesses.
  2. Comprehensive CI Insurance: Covers a broader range of illnesses and conditions. 

It can be stand alone or adding it to your life insurance.

Useful Option (Riders) and Add-ons, you can add to your policy:

  • Return of Premium Rider: Refunds premiums if no claim is made, it can be at death, expiry or by a certain number of years.
  • Waiver of Premium Rider: Waives future premiums if you become disabled.
  • Child CI Rider: Provides coverage for your children against critical illnesses.

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