604-880-9589 jack@jackshaffer.com

Have you had a difficult time qualifying for Critical Illness insurance, or feel you can’t work the premium into your budget? If so, there is an alternative you should consider. IA Excellence recently introduced an important product available to Canadians from birth to age 65. Cancer Guard pays a tax free benefit of up to $100,000 if you are diagnosed with a life threatening cancer. There is no medical required and the policy is issued if you can answer “no” to only 4 questions.

Although the policy only covers Cancer, it should be remembered that this disease accounts for nearly 30% of all deaths in Canada and is now the leading cause of mortality*. When you consider that in 2013 it is estimated that, in Canada, there will be almost 200,000 new cancer diagnoses the availability of this coverage is significant.

Cancer Stats graphic

If you can answer the first two questions “no” you will automatically qualify for $25,000 of coverage.

  1. In your lifetime, have you ever been diagnosed with AIDS, or tested positive for HIV?
  2. Do you have, or ever had, signs or symptoms for which you have not consulted a physician or are you waiting for a test or results of tests for any form of cancer or malignant tumour?

If you can answer the next two questions “no” you will automatically qualify for $100,000 of coverage. There are no other medical requirements!


  1. In the past two years, have you had an application for critical illness or cancer insurance declined or postponed by any insurance company?
  2. Have two or more members of your immediate family (father, mother, brothers or sisters) suffered from or been diagnosed with cancer before the age of 60?

The premiums for this coverage are very reasonable. Below are monthly premiums for $100,000 of ten year renewable coverage:

Age Male, non-smoker Female, Non-smoker Male, smoker Female, smoker
25 $ 22.40 $ 23.40 $ 27.40 $ 23.40
30 $ 25.60 $ 26.80 $ 35.40 $ 33.80
40 $ 45.40 $ 44.80 $ 79.20 $ 74.60
50 $ 93.00 $ 82.80 $210.00 $153.80
60 $228.20 $170.00 $518.80 $311.40
65 $267.20 $206.80 $614.80 $383.60

If you have had a difficult time qualifying for Critical Illness insurance in the past Cancer Guard may be the answer. Living Benefit coverage is an essential part of a solid financial plan. Please call me to discuss what options are right for you.