Critical Illness Insurance

Nova Scotia & New Brunswick


Critical illness insurance is a form of coverage that protects people in the event they become critically ill. It isn’t a substitute for life insurance, but rather it complements it.

A critical illness can impose a significant financial burden on people and can disrupt their lives significantly. Most people know somebody who has become critically ill. Think of the hardships it caused to both the individual and their family.

Critical illness insurance pays a lump sum following the diagnosis of a covered illness. The owner of the policy can spend that money any way they choose, such as by paying down a mortgage or debts.

Whereas life insurance pays out in the event one dies, critical illness pays out when one becomes critically ill. Even if a person recovers, the policy is still paid out.

There are many illnesses covered. Some of the illnesses included are

  • Parkinson’s disease.
  • Alzheimer’s disease.
  • Blindness.
  • Deafness.
  • Heart disease.

OTC Insurance offers critical illness insurance for clients in Nova Scotia and New Brunswick.