Humania Critical Illness (CI) Insurance Review

Humania Assurance may be best known for its online Life Insurance Application but did you know Humania offers Critical Illness Insurance as well! Let’s take a look at how Humania differentiates itself from other critical illness insurance companies in Canada.

Critical Illness Terms

Humania offers a wide variety of terms including 10, 15, 20, 25, 30, and level to age 75. With 25 conditions, Humania has a good amount of covered conditions with a high amount of term options available. Now, one thing that’s unique to Humania is their “Parental Compassionate Care Allowance”. This works like long-term care in the sense that you will receive a payment for a maximum of 12 months if your spouse or child becomes critically ill. This allows you to take time off work to take care of your loved ones. This will not payout on all illnesses, only severe ones. If your partner gets diagnosed with cancer and has a life expectancy of fewer than 12 months, this could payout. Or if they are diagnosed with a permanent loss of autonomy, this could payout. This would reduce your overall coverage if you then were to be diagnosed with any one of the critical illnesses you are covered for, however, Humania is the only one that offers this.

Survival Period

Humania is right in the average when it comes to survival periods on Critical Illness Policies, their survival period is 30 days which is the norm for the industry. And it is what it sounds like, you will need to survive for 30 days from the time you are diagnosed in order to file a claim.

Who is Humania Assurances best for?

This policy is best for anyone looking for Critical Illness insurance that also wants some financial protection in the case your spouse becomes critically ill and needs to be taken care of because of it.

PROS

• 25 covered conditions
• Multiple term coverages available
• Child coverage available
• Parental compassionate allowance
• ROP

CONS

• Partial Pay is only based on 3 conditions

As always, terms and conditions can change. Make sure to talk to your advisor before purchasing any coverage.