Wawanesa Critical Illness Insurance: 2025 Review
Our expert's opinion on Wawanesa
Wawanesa’s critical illness insurance in Canada stands out for its comprehensive coverage across 25+ critical conditions, flexible benefit amounts ranging from $10,000 to $2,000,000, and guaranteed lump-sum payouts backed by clear policy terms.Benefit guarantees are strong, with riders like Return of Premium and Waiver of Premium enhancing protection, while the waiting period is set at 90 days from policy start and the survival period is 30 days post-diagnosis to qualify for claims.Payout speeds are in line with industry expectations, with most claims completed within 30-45 days; optional add-ons allow customization for individual needs.While Wawanesa’s pricing is solidly mid-market, they frequently compete with major providers by offering robust coverage options and multi-policy discounts, making them a strong, value-driven choice in the segment.Wawanesa best serves middle-aged professionals and families seeking dependable income protection, as well as retirees looking for significant, guaranteed lump-sum coverage.The insurer demonstrates financial strength, managing over $9 billion CAD in assets and rated A- (Excellent, AM Best).Customer satisfaction is high with a 4.1/5 Trustpilot score from over 2,800 reviews, and policyholder service is accessible via both digital and phone channels, including average claim decisions within 30-45 days.The waiting period refers to the 90 days after the policy is issued before a claim is eligible, while the survival period means the insured must survive 30 days after diagnosis for a payout.
- ✅Broad condition coverage
- ✅Flexible benefit amounts up to $2 million
- ✅Return of Premium rider
- ✅Waiver of Premium available
- ✅Multi-policy discounts
- ✅Strong financial strength rating
- ✅Convenient digital claims portal
- ❌90-day waiting period
- ❌30-day survival period
- ❌Strict medical underwriting for high amounts
- ❌Coverage unavailable in Quebec
- ❌No telemedicine integration
Our expert's opinion on Wawanesa
- ✅Broad condition coverage
- ✅Flexible benefit amounts up to $2 million
- ✅Return of Premium rider
- ✅Waiver of Premium available
- ✅Multi-policy discounts
- ✅Strong financial strength rating
- ✅Convenient digital claims portal
- ❌90-day waiting period
- ❌30-day survival period
- ❌Strict medical underwriting for high amounts
- ❌Coverage unavailable in Quebec
- ❌No telemedicine integration
Score- ✅Broad condition coverage
- ✅Flexible benefit amounts up to $2 million
- ✅Return of Premium rider
- ✅Waiver of Premium available
- ✅Multi-policy discounts
- ✅Strong financial strength rating
- ✅Convenient digital claims portal
Why trust HelloSafe?
At HelloSafe, our critical illness insurance experts review policy terms and pricing on the Canadian market every year to provide you with reliable and unbiased analysis. Thanks to this rigorous approach, hundreds of thousands of Canadians trust us each month to guide them in their most important financial decisions.
The Guarantees of Wawanesa Critical Illness Insurance
Wawanesa critical illness insurance covers more than 25 covered conditions, such as cancer, heart attack, stroke, kidney failure, and multiple sclerosis, with a focus on both major and critical illnesses.
Major illnesses (like cancer, heart attack, and stroke) are eligible for the full lump-sum benefit, while some riders and options address specific critical conditions or additional risks.
Benefit amounts range from a minimum of $10,000 to a maximum of $2,000,000, with a 90-day waiting period from policy start and a 30-day survival period after diagnosis required for a payout.
Coverage is guaranteed renewable, with terms up to age 75, and no automatic indexation is offered.
| Feature | Details |
|---|---|
| 🎯 Coverage scope | 25+ illnesses including cancer, heart attack, stroke, kidney failure, multiple sclerosis; optional riders |
| 💲 Benefit amounts | $10,000 minimum, $2,000,000 maximum, standard lump-sum payout |
| ⏱️ Waiting period | 90 days from policy issue |
| ⌛ Survival period | 30 days after diagnosis required |
| 🔒 Guaranteed renewability | Yes, renewable to age 75 |
| 📈 Indexation | ❌ (not available) |
Grace period: Right to cancel within 10 days before coverage starts.
👉 Compare the best critical illness insurance plans in for free.Discover the offersThe cost of Wawanesa critical illness insurance
Premiums for Wawanesa critical illness insurance in Canada are set based on your age (each additional decade typically raises the base premium by 70–95%), health status (standard or rated for pre-existing conditions), and smoker status, with smokers paying 40–55% more than non‑smokers.
Premiums also increase proportionally with higher coverage amounts (about +15% per $50,000), and policy term or duration plays a role, as longer coverage periods are more costly.
All lump-sum critical illness benefits from Wawanesa are tax-free under Canadian law.
- Age: Each additional decade increases the base premium by 70–95%.
- Health status: Standard vs. rated (surprime) classes affect cost.
- Smoker status: Smokers pay 40–55% more than non-smokers.
- Coverage amount: Premium rises by about 15% per $50,000 insured.
- Policy term: Longer coverage durations increase premium costs.
- Tax treatment: Lump-sum benefit is tax-free in Canada.
| Profile | Coverage amount | Non‑smoker premium | Smoker premium |
|---|---|---|---|
| 30 yrs, healthy non‑smoker | $100,000 | $45/month | $65/month |
| 45 yrs, pre‑existing condition | $100,000 | $80–$120/month | $120–$175/month |
| 55 yrs, healthy smoker | $50,000 | $90/month | $138/month |
Optional Riders for Wawanesa Critical Illness Insurance
- Income rider: Provides a supplemental income stream, typically paying out 1–2% of the face amount monthly if the insured becomes critically ill and survives the waiting period.
- Policy loan: Allows for borrowing up to 80% of the policy’s cash value, with fixed or variable interest and flexible repayment options required to keep the policy in force.
- Waiver of Premium (WOP): Activates if the policyholder is totally disabled for at least 6 months before age 60, waiving all future premiums while the disability persists.
- Additional condition rider (Kidney failure, Enhanced Heart failure): Expands core coverage to include payouts for specific high-risk illnesses such as kidney failure or advanced heart failure, upon diagnosis.
- Participating benefits: Eligible policyholders may receive annual dividends based on Wawanesa’s performance, which can be used to reduce premiums or increase coverage.
- Conversion rider: Gives the option to convert all or part of the policy to permanent life insurance (whole or universal life) without medical evidence, usually before age 65.
- Partial surrender option: Lets policyholders access a portion of the cash value or benefit (subject to a minimum remaining amount and surrender charge), without terminating the policy.
- Underwriting & Eligibility: Requires medical examination for most applicants, with age and benefit thresholds, and applies rated classes for individuals in higher-risk occupations or with prior health issues.
Exclusions for Wawanesa Critical Illness Insurance
- Suicide within first year: No benefit paid if death is by suicide in the policy's first 12 months.
- Undeclared pre-existing conditions: Claims denied if an undisclosed health condition contributed to the covered illness.
- High-risk activities: Claims excluded for illnesses arising from extreme sports or private aviation participation.
- Criminal acts: No payout if illness or injury results from committing or attempting a criminal offence.
- Conditions not listed: Only illnesses specifically named in the policy schedule are eligible for benefits.
- Age limits: Certain benefits are not payable outside specified age ranges for coverage.
- Survival period failure: If you do not survive the mandatory post-diagnosis period, no benefit is paid.
- Portability & Renewal: Policy renewal or portability may require new underwriting when changing jobs or moving.
Claims and Payout Timing for Wawanesa Critical Illness Insurance
The overall claims process with Wawanesa is straightforward, designed for efficiency and clear communication.
Most claims are processed and paid out within 10–15 business days after approval.
- Claim notification: Notify Wawanesa and submit claims via their online portal, mobile app, or by phone.
- Documentation review: Provide all required medical reports, physician statements, and completed claim forms for assessment.
- Underwriting assessment: Wawanesa reviews submitted documents and typically makes a claims decision within 10 business days.
- Payout execution: Approved payments are issued by direct deposit or cheque, generally within 3–5 business days of approval.
- Average payout time: Claims are usually paid in full within 10–15 business days after receipt of all required documents.
- Cooling‑off period: Policyholders have 10 days after issue to cancel their contract for a full refund, no penalty.
Contacting Wawanesa and Accessing Ancillary Services
| Detail | Information |
|---|---|
| 🏢 Head office address | 191 Broadway, Winnipeg, MB R3C 3P1, Canada |
| 📞 Phone | 1-800-WAWANESA (1-800-929-2637); Claims: 1-800-263-0164 |
| ✉️ Email | customerservice@wawanesa.com |
| 🌐 Website | www.wawanesa.com |
| 💬 Live chat | Available via customer portal (Chat link), Mon–Fri 8AM–8PM, Sat 9AM–5PM (EST) |
| 📱 Social media | Twitter: @Wawanesa; Facebook: WawanesaInsurance |
| ⏰ Operating hours | Mon–Fri 8AM–8PM, Sat 9AM–5PM (EST); average wait time under 2 minutes |
- Teleconsultation: Access to telehealth guidance may be available through partner programs, connecting clients to medical professionals via phone or app.
- Second medical opinion: Policyholders can request an expert review of a diagnosis and treatment plan to confirm or clarify medical decisions.
- Policy management portal: The online dashboard and mobile app allow secure policy access, premium payments, claim tracking, and customer service chat.
- 24/7 hotline: Emergency support is available around the clock for urgent claim or policy assistance.
- Repatriation assistance: Coordination of emergency medical transport and repatriation is supported under certain plans.
- Surrender & Partial Redemption: Policies can be partially or fully surrendered; cash surrender values and loan advances depend on contract terms and accumulated value.
FAQ
What critical illnesses are covered, and what are the typical benefit amounts with Wawanesa?
Wawanesa’s critical illness insurance policies cover 25 or more major conditions, including cancer, heart attack, stroke, kidney failure, and multiple sclerosis. Benefit amounts typically range from $10,000 up to $2,000,000, depending on the policy selected and underwriting results. Coverage can be tailored based on the applicant’s needs and budget within these limits. Some plans also allow incremental increases through optional riders for additional protection.
What are the waiting and survival periods for critical illness claims?
A standard waiting period of 90 days applies from the policy effective date, during which coverage is not in effect for new diagnoses. After a covered illness is diagnosed, most conditions require a survival period of 30 days before a claim can be paid. This means the insured must remain alive for at least 30 days post-diagnosis to be eligible for benefits. These periods are clearly defined in the policy contract and are standard in the Canadian market.
Which optional riders are available and how do I add them to my coverage?
Wawanesa offers several optional riders, including Return of Premium, Waiver of Premium, Accidental Death Benefit, and Additional Purchase Option. Riders can be added at initial application or during annual policy reviews, subject to underwriting approval and age restrictions. Adding a rider may increase your premium, and each comes with its own eligibility criteria. Your insurance advisor can help you select and add the most suitable riders to your policy.
How are premiums calculated, and what is the difference between smoker and non-smoker rates?
Premiums are determined by factors such as age, gender, health status, coverage amount, policy type, and optional riders. Non-smokers benefit from significantly lower rates—typically 30% less—due to lower statistical risk. Smoker rates apply to applicants who have used tobacco or nicotine products within the past year. Wawanesa may require you to answer health and lifestyle questions or undergo medical tests based on policy size.
What is the claim submission process and how quickly are benefits paid out?
To submit a claim, you must complete a claim form and provide medical documentation confirming the diagnosis of a covered condition. Claims can be initiated via phone, email, or the secure online portal. Once all required information is received, decisions are usually made within 30–45 days and approved benefits are paid by cheque or direct deposit. Consistent communication with Wawanesa’s claims team helps ensure efficient processing.
Can I amend my policy after issue, such as increasing or decreasing coverage?
Policy amendments such as increasing, decreasing, or modifying coverage are allowed, subject to underwriting review and minimum/maximum coverage rules. Increases generally require evidence of insurability or a new application, while decreases may be processed upon request. Changes to riders and beneficiaries can also be made through the policyholder portal or with the assistance of an advisor. Wawanesa aims to make policy adjustments as smooth as possible.
What are the rules, charges, and refund policies if I cancel or surrender my policy?
You can cancel your policy at any time by notifying Wawanesa in writing or through the digital portal. If you surrender your policy early, surrender charges or penalties may apply, and whether you receive a refund or cash surrender value depends on the plan type and duration held. Return of Premium riders may provide a refund after a set period with no claim. For a full premium refund, cancellations should be made within the 10-day free-look period after policy issue.
What digital self-service features are available to manage my critical illness policy?
Wawanesa provides a robust online portal and mobile app for policyholders. Through these tools, you can view and manage policy details, update personal information, access policy documents, pay premiums, file and track claims, and communicate with customer support through secure chat. This digital access is available 24/7, enhancing convenience and user control.
What critical illnesses are covered, and what are the typical benefit amounts with Wawanesa?
Wawanesa’s critical illness insurance policies cover 25 or more major conditions, including cancer, heart attack, stroke, kidney failure, and multiple sclerosis. Benefit amounts typically range from $10,000 up to $2,000,000, depending on the policy selected and underwriting results. Coverage can be tailored based on the applicant’s needs and budget within these limits. Some plans also allow incremental increases through optional riders for additional protection.
What are the waiting and survival periods for critical illness claims?
A standard waiting period of 90 days applies from the policy effective date, during which coverage is not in effect for new diagnoses. After a covered illness is diagnosed, most conditions require a survival period of 30 days before a claim can be paid. This means the insured must remain alive for at least 30 days post-diagnosis to be eligible for benefits. These periods are clearly defined in the policy contract and are standard in the Canadian market.
Which optional riders are available and how do I add them to my coverage?
Wawanesa offers several optional riders, including Return of Premium, Waiver of Premium, Accidental Death Benefit, and Additional Purchase Option. Riders can be added at initial application or during annual policy reviews, subject to underwriting approval and age restrictions. Adding a rider may increase your premium, and each comes with its own eligibility criteria. Your insurance advisor can help you select and add the most suitable riders to your policy.
How are premiums calculated, and what is the difference between smoker and non-smoker rates?
Premiums are determined by factors such as age, gender, health status, coverage amount, policy type, and optional riders. Non-smokers benefit from significantly lower rates—typically 30% less—due to lower statistical risk. Smoker rates apply to applicants who have used tobacco or nicotine products within the past year. Wawanesa may require you to answer health and lifestyle questions or undergo medical tests based on policy size.
What is the claim submission process and how quickly are benefits paid out?
To submit a claim, you must complete a claim form and provide medical documentation confirming the diagnosis of a covered condition. Claims can be initiated via phone, email, or the secure online portal. Once all required information is received, decisions are usually made within 30–45 days and approved benefits are paid by cheque or direct deposit. Consistent communication with Wawanesa’s claims team helps ensure efficient processing.
Can I amend my policy after issue, such as increasing or decreasing coverage?
Policy amendments such as increasing, decreasing, or modifying coverage are allowed, subject to underwriting review and minimum/maximum coverage rules. Increases generally require evidence of insurability or a new application, while decreases may be processed upon request. Changes to riders and beneficiaries can also be made through the policyholder portal or with the assistance of an advisor. Wawanesa aims to make policy adjustments as smooth as possible.
What are the rules, charges, and refund policies if I cancel or surrender my policy?
You can cancel your policy at any time by notifying Wawanesa in writing or through the digital portal. If you surrender your policy early, surrender charges or penalties may apply, and whether you receive a refund or cash surrender value depends on the plan type and duration held. Return of Premium riders may provide a refund after a set period with no claim. For a full premium refund, cancellations should be made within the 10-day free-look period after policy issue.
What digital self-service features are available to manage my critical illness policy?
Wawanesa provides a robust online portal and mobile app for policyholders. Through these tools, you can view and manage policy details, update personal information, access policy documents, pay premiums, file and track claims, and communicate with customer support through secure chat. This digital access is available 24/7, enhancing convenience and user control.
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