Sun Life Critical Illness Insurance Review (2022)
Great critical illness insurance is an incredible asset if the worst happens. Not only can a heart attack, stroke or cancer diagnosis sideline you from working, but the financial aspect can be a difficult weight to bear alone.
Have you ever thought about how you would provide for yourself and your dependents if you were to get ill? Whereas disability insurance can provide you with a monthly income when you are stopped from working, critical illness insurance can provide a large lump sum payment to defray the immediate costs of medical care and lifestyle changes.
Critical illness insurance comes in a wide range of coverage types and benefit amounts, so it is not always easy to pick the best one for you.
Are you wondering if Sun Life’s critical illness insurance is right for you? This page explores their offer in detail. Get our Sun Life review, a breakdown of available coverage options and much more.
Who is Sun Life?
Sun Life is one of Canada’s largest and best-trusted insurers. It is primarily known for its life insurance products and also branches out into wealth management services. This includes health, travel, mortgage protection insurance and more available to individuals and groups.
The company has offered insurance solutions to Canadians for more than 150 years ago. Today it boasts more than 2700 advisors around the country and more beyond it.
Below we look at Sun Life’s critical illness insurance offerings.
Why sign up for Sun Life critical illness insurance?
Critical illness insurance from Sun Life or another provider give 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
Beside 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.
Our review of Sun Life:
Sun Life is a major critical illness insurance provider in Canada, but not all clients have the same needs or situation. Here is what we like about Sun Life’s critical illness insurance offer and some considerations to weigh as you shop for coverage options.
Pros of Sun Life critical illness insurance:
Reputation - one of Canada's top insurance companies
Sun Life critical illness list covers up to 26 critical illnesses
Coverage up to $3 million
Children's coverage available (up to $1 million)
Online application available for Express Critical Illness plan
No medical exam for Express Critical Illness plan
Flexible terms
Many optional add-on benefits available.
Cons of Sun Life critical illness insurance:
Requirement to speak to an advisor to purchase more comprehensive plan
Fewer illnesses covered in the basic plan
Get free quotes and choose a Sun Life critical illness insurance policy. Our expert can help you find the right coverage that fits the needs of you and your family.
Find a critical illness insurance policy that's right for you
What critical illness insurance plans does Sun Life offer?
Sun Life critical illness coverage is available under two plans: Express and Comprehensive:
-Express critical illness: This plan offers coverage for up to 7 illnesses with benefits of up to $50 000. It is divided into the tiers: Basic, Enhanced and Comfort Plus. Basic is cancer-only coverage with each tier adding coverage. Adults under 65 years old are eligible.
-Comprehensive critical illness: This plan offers coverage for up to 26 illnesses, plus 8 qualifying for partial payouts. An additional 5 childhood illnesses are available for those under age 24. Terms are flexible and coverafe is worth as much as $3 million ($1 million for children). The numerous addons include return of premium, owner waivers, long-term care conversion and more.
payout as financial help to pay the costs associated with life-altering illnesses. They offer two different plans for adults and children to take care of your specific insurance needs. Adult plans are available in amounts of $25 000 to $3 000 000. Child plans are available in amounts of $25 000 to $1 000 000.
For more on Sun Life's critical illness insurance offer see the pdf below.
What illnesses and conditions qualify for Sun Life critical illness insurance?
The following illnesses and conditions may qualify a Sun Life policyholder for critical illness benefits.
-Acquired brain injury due to external trauma
-Aortic surgery
-Aplastic anemia
-Bacterial meningitis
-Benign brain tumour
-Blindness
-Cancer
-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
*8 additional partial payout illness are covered:*
-Cancer – chronic lymphocytic
leukemia (CLL) Rai stage 0
-Cancer – ductal carcinoma in situ
of the breast
-Cancer – gastrointestinal stromal
tumours classified as AJCC Stage 1
-Cancer – grade 1 neuroendocrine
tumours (carcinoid)
-Cancer – papillary or follicular
thyroid cancer stage T1
-Cancer – stage 1A
malignant melanoma
-Cancer – stage A (T1a
or T1b) prostate cancer
-Coronary angioplasty
5 additional childhood illnesses are covered:
-Cerebral palsy
-Congenital heart disease
-Cystic fibrosis
-Muscular dystrophy
-Type 1 diabetes mellitus
Be aware that plans may cover fewer conditions than those listed below.
Good to know
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 Sun Life advisor.
How do I apply for Sun Life insurance?
Express critical illness insurance quotes are available online. For Comprehensive critical illness plans, you will need to contact a Sun Life advisor. You may pick one on the website and fill out a form to arrange a phone call of Zoom meeting.
Before settling on an offer with Sun Life it's smart to compare critical illness insurance quotes from other providers. You can do this below to be put in contact with an expert.
Shop critical illness policies now
How much does Sun Life critical illness insurance cost?
Unfortunately, it is difficult to provide an accurate price range for Sun Life critical illness Insurance. 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 Sun Life critical illness insurance quote.
| Age | Price per month |
|---|---|
| Under 25 | $7 |
| 51 to 55 | $27 |
| 56 to 60 | $44 |
| 61 to 65 | $56 |
Good to know
Need help deciding how much coverage to buy from Sun Life? Our critical illness insurance calculator can help you make an informed decision.
How do I contact Sun Life?
Sun Life offers priority customer service to those who contact them through the my Sun Life mobile application. Alternatively you may contact Sun Life by logging into its website.
*For assistance with a plan bought though an advisor:
Call Sun Life at 1-877-786-5433 Monday to Friday from 8am-9pm Eastern Standard Time or email them [email protected]