Critical Illness Insurance


If serious illness interrupts your life, Critical Illness Insurance provides a tax-free lump sum payment to spend any way you need.

You're covered for 25 critical illnesses, including heart attack, cancer, and stroke.

Common uses of your Critical Illness Benefit include:

  • Private nursing care
  • Paying off bills
  • Home adaptation
  • Taking a vacation
  • Supplementing your pension

Eligibility

Alumni Association of Lakehead University members and their spouses under 65 years of age, who are residing in Canada.

What makes your alumni plan special?

Your group advantage
The Alumni Association of Lakehead uses your group buying power to negotiate exceptional value, with features you won’t find anywhere else.

 

Portability
While employer plans can terminate if you change jobs, alumni insurance stays with you no matter what your work status.

Spouse Coverage
Your spouse is also eligible to apply under your alumni plan. It's even better to have Critical Illness Insurance, together.

 

And much more!
Your group plan offers special coverage features including Claims at TuGo and coverage for several non-life threatening conditions. 

You are covered for 25 life-changing illnesses:

  • Aortic Surgery
  • Aplastic Anemia
  • Bacterial Meningitis
  • Benign Brain Tumour
  • Blindness
  • Cancer (Life-Threatening)
  • Coma
  • Coronary Artery Bypass Surgery
  • Deafness
  • Dementia, including Alzheimer's Disease
  • Heart Attack
  • Heart Valve Replacement or Repair
  • Kidney Failure
  • Loss of Independent Existence
  • Loss of Limbs
  • Loss of Speech
  • Major Organ Failure on Waiting List
  • Major Organ Transplant
  • Motor Neuron Disease
  • Multiple Sclerosis
  • Occupational HIV Infection
  • Paralysis
  • Parkinson’s Disease and Specified Atypical Parkinsonian Disorders
  • Severe Burns
  • Stroke

The Lakehead University Alumni Critical Illness Insurance plan also offers these additional benefits:

How you use your money is up to you
Your benefit amount is tax-free, and you can spend it any way you wish. Common uses include paying off debts, home adaptation, childcare, investment, vacation, supplementing your pension, or lifestyle changes.

You are also covered for several non life-threatening conditions 
The AdvanceCare Benefit will pay 10% of the total benefit amount for Coronary Angioplasty and several early stage cancers. The benefit is payable for only one AdvanceCare Benefit Condition. However, payment of the AdvanceCare Benefit will not affect the benefit payment for a subsequent diagnosis of one of the 25 covered conditions.

Payment is not dependent on your ability to work or your recovery
Unlike Long Term Disability Insurance, you will receive your Critical Illness Insurance benefit payment regardless of whether you are able to work while you are ill, or whether or not you make a full recovery.

Multiple Event Coverage
No one knows the value of critical illness insurance better than someone who has already received a benefit payment. The Multiple Event Coverage benefit allows insured members and spouses to claim multiple times for separate and unrelated covered conditions. For more information about this benefit, visit www.solutionsinsurance.com/mec.

You can get assistance in arranging private medical care
Should you choose to use private medical facilities, Claims at TuGo may help you make your money go considerably further than if you personally arrange medical treatment. You can find more information at www.tugo.com/claims.  Note that utilization fees may apply.

Consultel ® confidential psychological assistance service
When a serious illness strikes, the financial protection provided by your insurance coverage is essential. But quite often, that is not enough — there is also an emotional component that must be addressed. Your Critical Illness Insurance coverage includes access to  professional counseling to help you focus on your recovery.

Telephone counseling is available, at no extra cost to you, as soon as a claim has been filed.

You and your spouse can apply for coverage to a maximum of $300,000. Together, you could have up to $600,000 of protection for your family.

Critical Illness Insurance
Your Monthly Premium (per $25,000 of coverage):
 

Member and/or Spouse
Age as of June 1st*** Male Female
  Non-Smoker* Smoker Non-Smoker* Smoker
24 or less $3.60 $4.90 $3.75 $4.75
25 - 29 $4.80 $8.15 $4.95 $8.40
30 - 34 $6.10 $11.00 $6.30 $11.25
35 - 39 $7.35 $13.45 $7.65 $13.80
40 - 44 $10.10 $21.90 $10.50 $19.70
45 - 49 $15.85 $36.90 $16.00 $31.05
50 - 54 $22.60 $59.25 $22.70 $50.25
55 - 59 $30.20 $80.55 $29.95 $68.35
60 - 64 $50.60 $134.55 $49.80 $101.60
65 - 69** $74.35 $202.25 $73.95 $157.60
70 - 74** $161.30 $371.20 $114.55 $242.65

Rates are subject to provincial sales tax where applicable.

Important information about your premium rates:

*Non-smoker rates apply to individuals who, at the time of application, have not used any form of tobacco (except an average of one cigar a month), including nicotine products, electronic cigarettes, marijuana, hashish, smoking cessation products, betel nuts or leaves, supari, paan, gutka or shisha, within the last 12 months and who have provided satisfactory evidence of insurability.

**The premiums shown for ages 65 to 74 are for renewal of existing coverage only.

***Premiums are calculated each year, based on your age at June 1st, and will increase as you reach a higher age band.

You can also apply for up to $10,000 in coverage for your children. Children will be protected for the same 25 illnesses as adults plus the following 6 child-specific conditions:

  • Cerebral Palsy
  • Down’s Syndrome
  • Congenital Heart Disease
  • Muscular Dystrophy
  • Cystic Fibrosis
  • Type 1 Diabetes

For more information and application instructions, please visit our Dependent Children Critical Illness Insurance page.

1. Am I eligible for Critical Illness Insurance?

If you’re a Lakehead University Alumni Association member, both you and your spouse are eligible to apply for Critical Illness Insurance. Your spouse can apply, even if you choose not to.

You must also be residing in Canada, and less than 65 years of age.

2. When does my coverage terminate?

On the earliest of the following dates:

  • the June 1st following the date you reach age 75;
  • the end of the month in which your written request to cancel your insurance is received;
  • the end of the month in which you are no longer eligible;
  • the date the Group Master Policy between the Alumni Association of Lakehead University andIndustrial Alliance Insurance and Financial Services Inc. terminates;
  • in regard to your spouse's Critical Illness Insurance, the earliest of the above, or the end of the policy year following the date they reach age 75, or the end of the month in which they no longer qualify as a "spouse".

3. Will my premiums stay the same?

Premiums are calculated based on your age and applicable rate as of June 1st each year. As the rates are in 5-year age bands, premiums will increase as you reach a higher age band.

Please refer to the pricing tab to find out your age band and monthly premium.

4. Can I change amounts of insurance?

Yes, provided your total coverage is no more than $300,000. To increase coverage, you will need to complete a new application. You may either print off the appropriate application in the "Apply Now" section, or apply online for additional coverage.

Decreases in coverage require your written authorization. These can be submitted to us by mail or fax. Please ensure you have signed and dated your request. You can mail your request to:

Special Markets Solutions
iA Financial Group
2165 Broadway W.
PO Box 5900
Vancouver BC V6B 5H6

Or fax your request toll-free to: 1.888.553.5433

5. Are there any limitations or exclusions I should be aware of?

There are several important limitations and exclusions:

Any Covered Condition or AdvanceCare Benefit Condition diagnosed prior to the effective date of coverage is excluded.

If you are diagnosed with a benign brain tumour or cancer within the first 90 days of coverage, a benefit will not be payable and benign brain tumour or cancer will no longer be considered Covered Conditions. 

No benefit will be paid if the Covered Condition or AdvanceCare Benefit Condition results from attempted suicide, alcohol or drug abuse, war or armed forces service, self-inflicted injury, taking poison or inhaling gas or participation in a criminal act.

For paralysis, blindness, deafness, severe burns, stroke, coma, or loss of limbs no benefit will be paid if the condition is a result of participating in amateur or professional boxing, bungee jumping, B.A.S.E. jumping, cliff diving, mountain climbing, motor vehicle racing or speed competition on land and/or water, parachuting or underwater activities, including scuba diving or snuba diving. There is also an exclusion for certain pilots.

Some illnesses have exclusions, refer to the full illness definition list for details.

6. Where can I find out more information?

For more information please see our Customer Service page.

You can also speak to a Client Service Specialist by email at solutions@ia.ca, or call our toll-free number at 1 (800) 266-5667 (6:30am to 4:30pm Pacific Time).

Questions? We're here to help.
Call 1 (800) 266-5667 or email solutions@ia.ca