Most of us take better health for granted, but getting an insurance package, such as health insurance for Canadian citizens returning, which covers the main asset - yourself, is really valuable. The two insurance this guide is going to address is regarded as critical illness insurance and disability insurance. Both these plans have some resemblances, all of which help you and your family out of a difficult financial situation.

Disability Insurance

When you are unable to work due to illness or accident, disability insurance gives you recurring compensation to cover a part of your salary. It is arranged in a manner that accounts for 60 to 70% of your income. It is intended to help you maintain the same quality of life and maintain costs before you get back to work. Your income security continues until you hit the age of 65, and payments start 90 days after you become disabled.

When will you get the money?

After you have been unable to work for an amount of time, you begin receiving regular payments for months. However, this depends entirely on the policy and often, the waiting times vary from 30 to 120 days.


Disability insurance compensates you for the money you received while working. It implies that only individuals who earn money from jobs or self-employment are eligible for it.

Critical Illness Insurance

When you are dealing with one of the covered medical disorders, Critical illness insurance, unlike disability insurance, is provided as a one-time single payment payout. Cancer, stroke, heart attack, and/or some surgical operations, such as coronary artery bypass surgery and aortic surgery are typical examples of these disorders.

The overall number of compensation you chose when you submitted your policy proposal will be the amount of compensation you are liable to. You are entitled to use the money you receive in whatever manner you see fit.
Not only does critical illness insurance help to fill up the holes left by disability insurance, but it also provides an added measure of financial coverage that you can access in the event of a major health crisis involving chemotherapy or a heart attack, among several other disorders.

When will you get the money?

You will receive the payment equal to the total coverage chosen at the time of your registration, after you sustain the disease for a certain amount of time, usually for 30 days.


Any citizen of Canada aged 18 to 65 can apply for critical illness insurance and receive it. In event of an emergency, it is best to have it at an early stage to ensure your financial security.

Why Do You Need Both?

Although insurance policies have different options for payment and eligibility requirements, both have been intended to provide such a strong level of expense safety in the case of an unfortunate circumstance that prevents you from continuing your current lifestyle. You can reduce the risk of being left without a sufficient amount of money by incorporating both of them into your financial plan.

It is important that both disability insurance and critical illness insurance are usable, you can rely on it while not actively working or earning income, as a source of money for a wide range of costs. You can pay for your healthcare coverage, groceries, expenses for travel, and many other things.

We have an expert team of accredited insurance agents and financial analysts at Insurance4u, ready to take you through every step along the way and develop a customized package just for you. Other than the aforementioned insurances, we also deal with health insurance for new immigrants in Canada and several others.