Illness can occur unexpectedly, bringing financial strain in addition to health challenges. Critical illness insurance provides a lump-sum tax-free benefit that can be used for medical treatments, travel expenses, or other needs. With 1 in 2 Canadians developing cancer in their lifetime and 1 in 3 experiencing a severe illness before age 65, this insurance becomes an essential safety net. A stroke occurs every 5 minutes in Canada, further emphasizing the importance of having financial support during challenging times. Critical illness insurance is available up to age 69, with coverage extending to 75 or 80. It can be purchased as a standalone policy or added to life insurance. Conditions covered include cancer, stroke, heart disease, organ failure, and Alzheimer’s, with tax-free lump-sum benefits used at the policyholder’s discretion. Some policies also allow reinstatement after a claim, providing continued protection in case of recurring illnesses.