At a Glance / Aperçu
Insurance covers "critical illnesses"
Canadian Medical Association Journal 1996; 155: 742
Private health insurance has found another niche not covered by medical or disability policies. Canada Life recently created insurance that is designed to protect a person's financial security following life-threatening illnesses or procedures, such as heart attacks, coronary artery bypass surgery, organ transplant, multiple sclerosis or cancer. The insurance provides a lump-sum benefit ranging from $50 000 to $1 million for policyholders who experience a critical illness and survive for 30 days following diagnosis.
The payment would cover the cost of recovery, loss of income and future lifestyle changes, Canada Life said in a news release. It would also make a $500 donation toward a charitable organization supporting research toward a cure for a policyholder's specific illness. The company introduced similar coverage in the United Kingdom and Ireland about 5 years ago.
| CMAJ September 15, 1996 (vol 155, no 6) |