Challenging health events can happen at any time, to any of us. While some of your health-care needs may be covered by your provincial or territorial plan, it’s likely that many other health-care costs are not. Protect yourself and your loved ones from the financial strain of unexpected medical bills with health insurance. It’s an important part of your holistic financial plan, giving you peace of mind in the face of unexpected medical expenses.
What is health insurance?
Health insurance generally refers to insurance products which can help protect you against certain health events. Each product is a policy that gives you financial protection against the costs of medical events, like an injury or illness. The policy must be in effect before a medical need happens.
Types of health insurance products
There are four main types of health insurance available to people living in Canada:
Personal health insurance
Helps pay for health-care expenses not covered by your provincial/territorial or employer plan.
Critical illness insurance
Helps cover the costs of coping with and recovering from a covered critical illness.
Long-term care insurance
Helps cover the cost of care related to the realities of aging in the later stages of retirement.
Disability insurance
Helps replace part of your income if you can’t work.
Frequently Asked Questions
How much does health insurance cost in Canada?
There’s no one-size-fits-all price. It really depends on the type of health insurance product you buy as well as various factors regarding your health (e.g. your age, if you’re a smoker, where you live, etc.). This can affect how much you pay in premiums (fees). Some health insurance plans also require medical tests. Get a quote online or connect with an advisor to find out which plan is right for you.
Who is eligible for health insurance in Canada?
Any Canadian resident can apply for our health insurance products. Keep in mind, eligibility for most insurance products contain certain conditions such as your age and current health status. Connect with an advisor for more detailed information.
Is it worth getting health insurance in Canada?
Yes, having your own health insurance can help you avoid paying entirely out-of-pocket or dipping into your savings for the cost of an unexpected illness or injury.
Even if you already have benefits through work, it can help to have your own health insurance in case you ever lose your workplace benefits. This way, you’ll remain covered.
What if I already have health insurance through my group benefits?
You can buy health insurance to top up your group insurance plan. You can get a type of health insurance to cover off what’s lacking in your existing group benefits. For example, your group benefits may include health and dental coverage, but not coverage for a critical illness. In this case, having your own critical illness insurance policy can help you pay for the expenses that may occur if you’re ever diagnosed with a covered life-altering illness.
Leaving your job or retiring? Replace your health insurance in minutes.
If you’re leaving a job with a group benefits plan with any provider – whether it’s with LifeGuard or any other Canadian insurer – then you may qualify for a LifeGuard Choices insurance plan. There’s no medical exam, and we won’t ask any health questions when you apply. Replace your health insurance in minutes. Keep you and your loved ones covered against medical expenses not covered by your provincial or territorial health care plans.