Most of us know someone who’s been diagnosed with or suffered from a critical illness such as cancer, heart attack or stroke. The effects – physical, emotional and financial – can impact your way of life and standard of living. Critical Illness coverage helps with some of those unforeseen costs and helps provide relief from financial strain, so you can make recovery your priority.
Critical Illness Insurance provides a tax free1 lump sum payout following the diagnosis of one of the 23 covered conditions (27 conditions for children) to be used any way you wish.
1Tax free: based on current CRA guidelines
Underwritten by Chubb Life Insurance Company of Canada 199 Bay Street, Suite 2500, P.O. Box 139, Commerce Court Postal Station, Toronto Ontario M5L 1E2.
The insurer of this benefit is Chubb Life Insurance Company of Canada (Chubb Life). Coverage is available for you and your spouse up to $150,000 (in units of $5,000). You and your spouse must be at least 18 years old to be eligible for coverage. Coverage is also available for your dependent children ($5,000 or $10,000).
If you select a benefit amount higher than $25,000 for you or your spouse, Chubb Life will ask a few health questions. For benefit amounts of $25,000 and under, coverage is guaranteed regardless of your health; however, a pre-existing condition limitation is applied for the first 2 years of coverage. No medical information is required for dependent children.
If you are diagnosed with one of the listed covered conditions, the policy pays the benefit amount you have selected. Coverage may be continued and a payment may be made for a second event, if you are deemed to be fully recovered from the initial diagnosis. In order to qualify for a second event, the first event must be cancer or cardio related and the second event cannot be in the same category of condition as the first event.
What conditions are covered?
The following conditions are covered:
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And the following conditions are also covered for dependent children:
In addition to the covered conditions, partial benefits are provided for ductal carcinoma in situ (early stage breast cancer) and early prostate cancer treatment. For these conditions, benefits are paid at a percentage of the benefit amount selected.
Please refer to the Chubb Life website and insurance policy for full details of the covered conditions including but not limited to the definitions, exclusions and limitations.
Your spouse is a person who either legally married to you or cohabitates with you and has been publicly represented as your domestic partner for a period of at least one year in the community in which you reside.
Eligible children are your natural, adopted or step-kids, who are either; a) under 21, unmarried, and look to you to pay all the bills, because they don’t work more than 25 hours per week; b) under 26, unmarried and in the process of getting a post-secondary education, still dependent on you for support, because they don’t work more than 25 hours per week; or c) by reason of mental or physical illness, they are unable to support themselves and considered a dependent child under the terms of the Income Tax Act (Canada). A newborn is covered from date of birth provided you enroll them within 30 days, and your policy has been in force for 10 months.
If you purchase coverage for your kids, all eligible children listed on the policy will be covered. Please note, that if you have a new dependent child, you must contact Chubb Life to add them to your policy. Their coverage will only be effective the date you add them to your policy.
Coverage for you and your spouse terminates at age 70. When coverage for your dependent children terminates depends on whether they are in a post-secondary education or not:
However, if your dependent child(ren), by reason of mental or physical illness, are unable to support themselves and considered a dependent child under the terms of the Income Tax Act (Canada), their coverage will continue until your coverage terminates.
Underwritten by Chubb Life Insurance Company of Canada 199 Bay Street, Suite 2500, P.O. Box 139, Commerce Court Postal Station, Toronto Ontario M5L 1E2.
We're here to help! Please contact us in whatever manner is most convenient for you.
Program Administrator
| Phone 1-866-810-9384 |
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| Email my.policy@marsh.com |
Answers about the plan, including eligibility, options, enrollment, customer service and more.
What is a pre-existing condition limitation?
What if I’ve been diagnosed with one of the listed covered conditions already?
Are there other limitations to the policy I should be aware of?
Can I get coverage for my family?
Yes, your spouse may also apply for his or her own policy. You can add your kids to either your policy or your spouse's so that everyone in the family is covered.
If you purchase coverage for your kids, all eligible children listed on the policy will be covered. Please note, that if you have a new dependent child, you must contact Chubb Life to add them to your policy. Their coverage will only be effective the date you add them to your policy.
What if I make a full recovery?
What if I don't survive?
You must survive 30 days1 for most of the listed covered conditions. After that, if you are eligible for a claim payment but do not survive to receive it, Chubb Life will make the payment to your beneficiary.
1180 days survival for Paralysis, and a 90-day wait period for Cancer applies.
I have disability coverage, so why would I need critical illness coverage also?
Disability coverage is meant to provide you with a percentage of your income in the event you are unable to work. At a time when your income may be reduced due to being on disability, you are likely to see an increase in expenses for medical treatment. Critical illness coverage helps fill this gap.
Also, you are not required to be unable to work in order to receive your critical illness benefit. It is paid in addition to your income or disability benefits.
How does Chubb Life decide if my critical illness is eligible for a benefit payment?
How is my premium determined?
Premiums for you and your spouse will depend on age, gender and smoking status. For your children, the premium is a flat amount for $5,000 or $10,000 of coverage (regardless of age or number of children).
Please note, that if you have a new dependent child, you must contact Chubb Life to add them to your policy. Their coverage will only be effective the date you add them to your policy. A newborn is covered from date of birth provided you enroll them within 30 days, and your policy has been in force for 10 months.
How do I pay for my premium?
Will my premiums ever go up?
What happens to my coverage if I no longer work at Accenture?
This summary is an overview for informational purposes only and does not replace the Chubb Life Insurance Company of Canada critical illness policy. Please refer to the Chubb Life website and insurance policy for full details of the coverage, an explanation of benefits, including but not limited to the definitions, benefit amounts, exclusions and limitations.
Underwritten by Chubb Life Insurance Company of Canada 199 Bay Street, Suite 2500, P.O. Box 139, Commerce Court Postal Station, Toronto Ontario M5L 1E2.