Business critical illness insurance

It’s insurance that can help you protect your business and allow you to recover on your own terms.

A man and woman discuss business while seated before a laptop computer in a modern office building.

Who is this for?

As a business owner, you understand that your business is key to supporting the lifestyle you enjoy today and your plans for the future. But these plans could be affected by a life-altering illness, such as cancer, heart attack or stroke.1

Consider this: Research shows that one in 2.2 men and one in 2.4 women in Canada will develop cancer in their lifetime.2 How would your business respond if you or one of your top employees developed such a life-altering illness?

The good news is that, thanks to new developments in medicine, more people than ever before are surviving these critical illnesses. Nevertheless, it’s crucial that you and your business are prepared for the financial effects of a life-altering illness and that starts with critical illness insurance.

How will this help me?

Critical illness insurance can help your business by allowing you to recover on your terms while your business continues to run.

If you experience a covered critical illness, you’ll receive a tax-free lump sum payment. You can use that money any way you choose – you could use it to supplement your income while you recover; cover debt repayment obligations or pay employee salaries; access out-of-country medical treatment; cover travel costs or take some time with your family. It’s up to you.3

What else do I need to know?

Keeping you covered

As Canadians, we’re proud of the government-funded healthcare system. But provincial healthcare plans don’t always cover the cost of all medications, medical devices or treatments. Critical illness insurance can help with that.

Maintaining your retirement plans

Critical illness insurance can help you keep your retirement plans on track. Without it, you might have to take money from your investments to pay for medical expenses, maintain your family’s lifestyle and keep your business going. If that’s the case, you might have to delay or change your retirement plans.

Beyond financial support

A critical illness diagnosis can impact more than just your finances. That’s why we offer medical support through Best Doctors, a service that provides you with access to the expert opinions of 53,000 peer-nominated physicians to help you find the right diagnosis and treatment information. We also offer emotional support through Shepell, which provides a variety of counselling services.4

1 Your financial security advisor can provide you with a full list of conditions covered by critical illness insurance.

2 Canadian Cancer Statistics 2015, Special topic: Predictions of the future burden of cancer in CanadaOpens a new website in a new window, Government of Canada.

3 Coverage depends on meeting survival period and covered condition requirements. Speak with your financial security advisor to learn more.

4 The Great-West Life Assurance Company is not obligated to provide the services of Best Doctors or Shepell described here and may change or cancel access to these services any time without notice. Best Doctors and Shepell will not charge for the services they provide.

Best Doctors does not make referrals or appointments for members. The costs of any travel, lodging and medical treatment are not part of the services provided by Best Doctors. Provision of the services described above is conditional on a demonstrated ability to pay for all such costs. We recommend that you inform the insured’s physician that these services are available.

Connect with an advisor

Working with a financial security advisor can provide you with the tools and expertise you need to plan for the future.

Learn more