Financial Security After
a Serious Diagnosis

Critical illness insurance provides a lump-sum payment upon diagnosis of a serious condition such as cancer, stroke, or heart attack. This money can be used for medical costs, living expenses, or lifestyle adjustments.

Why Do You Need Critical Illness Insurance in Canada?

Financial strength when facing serious health challenges.

Lump Sum Payment

Receive tax-free funds after diagnosis of covered illness, providing resources for treatment and recovery.

Coverage for Medical Costs

Helps pay for specialized treatments, rehabilitation, or alternative care not covered by public healthcare.

Protect Family Stability

Ensures daily expenses are still managed despite income loss from major illness.

Who Needs Critical Illness Insurance?

Adults Over 30

Protect against increasing risks of serious illness while maintaining financial stability.

Parents

Safeguard children’s future and family expenses if illness impacts ability to work.

Business Owners

Protect business operations if health crisis interrupts work.

Why Choose MB Insurance for Critical Illness Insurance?

Comprehensive Critical Illness Coverage with Quick Benefits

We provide wide-ranging critical illness protection with fast payouts, ensuring families have immediate funds to cover treatment and essential needs.

Advisors Offering Clear, Compassionate Health Insurance Guidance

Our experienced team explains critical illness insurance in simple terms, ensuring you understand coverage and feel confident in your plan.

Affordable Critical Illness Insurance That Provides True Value

We deliver cost-effective coverage designed for every budget, ensuring critical illness protection remains affordable without compromising financial security for families

Supportive Service Team During Life’s Health Challenges

MB Insurance provides ongoing support, compassionate assistance, and reliable resources when families face critical illness diagnoses and financial uncertainties.

What our beloved client says

Check out what our client have to say about our services

Critical Illness Insurance FAQs | MB Insurance

Critical Illness Insurance — MB Insurance

Critical Illness Insurance Frequently Asked Questions

Financial security after a serious diagnosis.

Critical illness insurance provides a lump-sum payment upon diagnosis of a serious condition such as cancer, stroke, or heart attack. Policies cover severe, life-altering conditions, though the specific list of covered illnesses varies by insurer.
No, the critical illness insurance payout is typically not taxable. It's paid as a tax-free lump sum directly to you upon diagnosis of a covered illness, and you can use the funds however you choose.
Yes, some simplified-issue or guaranteed-issue critical illness policies are available without requiring a full medical exam. These options are often more accessible for individuals with health concerns, but typically come with higher premiums or more limited coverage.
Critical illness insurance benefits are paid after a waiting period, also called a survival period, which is typically a few weeks following diagnosis. You must survive this waiting period to receive the benefit.
Yes, you can often add critical illness coverage as a rider to an existing life insurance policy, or purchase it as a standalone policy. Combining coverage as a rider can sometimes be more cost-effective.
Critical illness insurance is especially valuable for adults over 30, who face increasing risks of serious illness as they age; parents wanting to safeguard their children's future; and business owners protecting their operations if a health crisis interrupts work.
Critical illness insurance pays a one-time, tax-free lump sum upon diagnosis of a specific covered condition, regardless of whether you can still work. Disability insurance pays ongoing monthly income replacement benefits specifically because you're unable to work.
Critical illness insurance funds help pay for specialized treatments, rehabilitation, or alternative care not covered by Canada's public healthcare system — such as out-of-country treatment, home care modifications, or experimental therapies.
Critical illness insurance pays out while you're alive, upon diagnosis of a covered condition, to help with treatment and living costs. Life insurance pays out after death to support your beneficiaries. Many Canadians choose to carry both.
You can get started by visiting mbeinsurance.ca/critical-insurance and completing the get-started form, or calling an advisor at +1 (647) 496-6498. MB Insurance's experienced team explains critical illness insurance in simple terms.