Our 2024 Review on Industrielle Alliance's Critical Illness Insurance

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Alexandre Desoutter updated on 9 January 2024

Facing a significant health challenge, such as a heart attack or cancer, doesn't just impact you; it affects your entire family. Beyond the emotional toll, there's a substantial financial burden. That's where critical illness insurance is crucial.

Critical illness insurance provides a lump sum to support you and your family through challenging times. And among the many providers in the market, iA critical illness insurance is an option you must consider. But is it right for you? We've got you covered.

In this review of iA critical illness insurance, we take you through everything from coverage to pros, cons, and more. You can use our free comparator to compare iA with other providers, get free personalized quotes, and decide if iA is for you or if there's another plan that fits you better.

iA critical illness insurance: Key takeaways

  1. Up to $3 million benefit and 25 covered illnesses.
  2. No medical exam coverage is available for up to $150,000.
  3. Unique Kiddy Plan offers free coverage for eligible children.
  4. Comprehensive plans with additional protection for childhood illnesses.
  5. Reputable provider with over a century of industry experience.

Our 2024 review of iA critical illness insurance

iA Critical Illness Insurance stands out for its diverse plans, offering up to $3 million in coverage for 25 critical illnesses. With a reputation spanning over a century, iA provides options like the Kiddy Plan for children, enhancing its appeal for family coverage.

While it excels in comprehensive protection, individuals seeking a streamlined application process may find alternatives more suitable. Overall, iA's robust offerings cater to a broad range of needs, making it a reliable choice for those prioritizing extensive critical illness coverage.

If you think iA critical illness insurance may be right for you, you can get personalized quotes for free right here. Click the button below and get results in no time.

Pros of iA critical illness insurance

  • Four plans available
  • Up to $3 million benefit
  • Up to 25 illnesses covered
  • An additional 5 childhood illnesses covered
  • No medical exam coverage available with up to a $150 000 benefit (Cancer Guard)
  • MediGuide: second medical opinion included
  • Plans available with life coverage
  • Kiddy Plan is available for free with adult coverage (ages 2-5)

Cons of iA critical illness insurance

  • Must contact an advisor for a quote
  • The age of eligibility limit is 65

If you want to be sure iA critical illness insurance is the right choice for you, you must compare it with other players in the market. You can do it right here. Use our free comparator below to compare the best critical illness insurance plans in Canada and get free quotes based on your unique needs.

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Who offers iA critical illness insurance?

Industrial Alliance or the iA Financial Group, is one of Canada's largest insurance and wealth management groups. It is also one of the longest-established having been founded in 1892. They provide a range of insurance products including life, auto, home, health, and disability insurance.

This article takes a look at iA's critical illness insurance offerings.

Why should you get iA critical illness insurance?

If you're wondering, "Is critical illness insurance worth it?", then, here's your answer. Critical illness insurance from iA or another provider gives you a powerful financial safety net should you contract a critical illness or condition. A serious diagnosis is likely to affect your ability to work while engendering serious expenses. These include:

  • Medical costs and specialists not covered under a different policy
  • Transportation to see specialists
  • Chair lifts or ramps at home
  • Therapy and counseling
  • Retrofitting vehicles for accessibility

Besides these additional costs, you still need a plan for continuing to pay your rent or mortgage, child care, groceries, and other day-to-day living expenses. The flexibility of the large lump-sum benefit from critical illness insurance means that you'll have the ability to cover these bills as you see fit. You can take care of yourself and your family while focusing on recovery.

What critical illness insurance plans does iA offer?

iA critical illness insurance coverage is available in the following plans:

  1. Transition - 25 illnesses: This plan offers up to a $3 million benefit while covering 25 illnesses. It added coverage for 5 juvenile illnesses policyholders up to 25 years old. Term (10, 20, 25 years) and permanent policies are available.
  2. Transition - 4 illnesses: This plan is similar to the above, but only covers cancer, stroke, heart attack, and coronary artery bypass surgery. These four illnesses account for 85% of critical illness insurance claims, meaning they still offer policyholders great protection.
  3. Cancer Guard: The no-medical exam policy can offer up to a $ 150,000 benefit. It is available in three levels: Standard, Preferred, and Preferred PLUS.
  4. Kiddy Plan: This plan is included for free for eligible children of adult policyholders. It offers up to a $2000 benefit for children ages 2 through 5 who suffer from cancer, loss of hearing or sight, paralysis, cerebral palsy, or cystic fibrosis.

For more on iA's critical illness insurance offer see the pdf below.

How much does iA critical illness insurance cost?

Unfortunately, it is difficult to provide an accurate price range for iA critical illness Insurance as these policies are highly dependent on individual situations. Pricing varies widely based on the following factors:

  • Age
  • Pre-existing conditions
  • General Health
  • Smoking status
  • The amount of coverage desired

For general information, the table below summarizes the average price of critical illness insurance for various ages with a $25,000 benefit for the average provider. This is meant solely to provide a rough indication. Speak with an advisor for an exact iA critical illness insurance quote or use our comparator.

AgePrice per month
Under 25
51 to 55
56 to 60
61 to 65
Example critical illness quotes by age

Good to know

Need help to decide how much coverage to buy from iA? Our critical illness insurance calculator can help you make an informed decision.

We recommend that you get personalized quotes to get an exact premium based on your unique needs. You can do it right here using our free comparator. Compare iA and multiple other insurance providers and get free personalized quotes right here.

Find a critical illness insurance policy that's right for you

Get quotes in just seconds

What illnesses and conditions qualify for iA critical illness insurance?

The following illnesses and conditions may qualify an iA policyholder for critical illness benefits.

  • Aortic Surgery
  • Aplastic anemia
  • Bacterial Meningitis
  • Benign Brain Tumour
  • Blindness
  • Cancer (Life-Threatening)
  • Coma
  • Coronary Artery Bypass Surgery
  • Deafness
  • Dementia, including Alzheimer’s Disease
  • Heart Attack
  • Heart Valve Replacement or Repair
  • Kidney Failure
  • Loss of Independent Existence
  • Loss of Limbs
  • Loss of Speech
  • Major Organ Failure on Waiting List
  • Major Organ Transplant
  • Motor Neuron Disease
  • Multiple Sclerosis
  • Occupational HIV Infection
  • Paralysis
  • Parkinson's Disease and Specified Atypical Parkinsonian Disorders
  • Severe Burns
  • Stroke (Cerebrovascular Accident)

Covered juvenile illnesses include:

  • Cerebral Palsy
  • Congenital Heart Disease
  • Cystic Fibrosis
  • Muscular Dystrophy
  • Type 1 Diabetes Mellitu

Be aware that plans may cover fewer conditions than those listed.

Good to know

Be it iA, Manulife critical illness insurance, or CIBC critical illness plan, different insurers have different criteria for determining the severity of an illness or condition and whether it qualifies. If you have questions, it's best to refer to the policy documents and speak with your insurance broker or an iA advisor.

How do I apply for iA insurance?

To apply for iA critical illness insurance, you will need to visit iA's website to reach an advisor. They will assist you in personalizing your quote.

Before settling on an offer with iA it's smart to compare critical illness insurance quotes from other providers. You can do this below. Click the button to compare policies, get free personalized quotes, and also to be put in contact with an expert.

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How do I contact iA?

For coverage obtained through an advisor, call: 1-844-442-4636

For coverage obtained from a dealership or retailer, call: 1-800-549-7227

iA's mailing address is: 522 University Avenue, Toronto, Ontario M5G 1Y7

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Alexandre Desoutter Redactor in chief

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a contributor to several publications. In this sense, his role leads him to carry out steering and support work with all HelloSafe editors and contributors so that the editorial line defined by the company is fully respected and declined through the texts published daily on our platforms. As such, Alexandre is responsible for implementing and maintaining the strictest journalistic standards within the HelloSafe editorial staff, in order to guarantee the most accurate, up-to-date information on our platforms and expert as possible. Alexandre has in particular undertaken for two years now the implementation of a system of systematic double-checking of all the articles published within the HelloSafe ecosystem, able to guarantee the highest quality of information.

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