Business-owned critical illness insurance
Help keep your business running smoothly
Focus on your recovery knowing that your business can continue if you’re diagnosed with a serious illness.

Receive a payout
A one-time payment that your business can use for whatever it needs.
Access to health experts
World-renowned specialists can help you get back to your business.
Additional support
Get counselling and other services from professionals during your recovery.
What is critical illness insurance for business owners?
It can give your business a tax-free payment if you’re diagnosed with a serious condition. Your contract will define which conditions you’re covered for, but some examples include cancer, heart attack and stroke.
Critical illness insurance isn’t just limited to you; you can also insure key employees.
How does it work?
- Choose the coverage amount you want.
- Once your application is approved, your business pays the premiums.
- File a claim if you’re diagnosed with a critical illness.
- You may have to wait a set period of time depending on your condition.
- Receive your payment and your policy ends.

Why do you need critical illness insurance?
It’s more common than you think
A serious, life-altering illness affects one in three Canadians in their lifetime.
Focus on your recovery
Concentrate on getting healthy knowing your benefit payment can help with your finances.
A critical illness payout can help:
Your business
Make sure expenses are covered and your company runs smoothly.
Your company’s future
Make sure you and your business partner have a succession plan for your business.
Protect corporate assets
Use the insurance payout instead of your business’ money to keep operations running.
It’s more than just a payout
As much as you want to keep your business running smoothly, your health is more important. Having access to medical treatments and emotional support can help your recovery.
Expert medical help
Get access to the top 5% of specialists in their fields. They can:
- Provide a second opinion
- Help understand medical conditions
- Explain treatment options
- Help navigate the health care system
Additional support
You and your family can get professional help to deal with the impact of your illness. They can provide:
- Counselling services
- Family support services (child care, home care)
- Legal and financial consultations
- Nutritional advice
What happens if you don't experience a critical illness?
You can add a return-of-premium benefit to your critical illness insurance policy. If you don’t experience a serious illness after as early as 10 years, you can choose to get your money back. If you choose this option your policy expires.
Do you need critical illness or disability insurance?
Depending on your situation you may need only critical illness and disability insurance but there are many times when you need both to fully protect yourself.
Critical illness and disability insurance work together to help reduce the impact of disability or serious illness.
Critical illness insurance | Disability insurance | |
---|---|---|
Payment type? | Tax-free, one-time payout | Monthly income replacement |
When do you receive the payment? | If you’re diagnosed with a covered condition | If you can’t work because of injury or illness |
Do you have to wait? | No waiting period in certain cases | Usually will have to wait |
How long does your coverage last? | Coverage for life | Ends at age 65 |
Ideal for? | A large sum that you can do what you want like paying medical expenses, mortgage and pay off debt | Covering monthly expenses |