CancerGuard Cancer Insurance
A tax-free lump sum paid on cancer diagnosis – no survival period, no medical exam, instant approval. Use it however you need to get through what comes next.
- Up to $150,000 tax-free
- No survival period required
- Instant approval – no exam
- From birth to age 65
- 63%
- Of critical illness claims are cancerCancer is the #1 driver of CI claims across Canada. Source: Canadian insurer claims data
Coverage details
Core coverage – Cancer insurance lump sum
A tax-free lump sum paid upon confirmed cancer diagnosis by a specialist. No restrictions on how you use it. No survival period required – paid on diagnosis.
| Coverage tier | Max benefit | Questions required | Premium level |
|---|---|---|---|
| Standard rate | Up to $50,000 | 3 questions (cancer + 1) | Lowest |
| Preferred rate | Up to $100,000 | 5 questions | Mid |
| Preferred PLUS rate | Up to $150,000 | 6 questions | Highest |
No medical exam. No blood tests. Instant approval at the point of sale. Term options: T10, T20, or T75 (to age 75). Renewable guaranteed to age 75 without evidence of insurability.
⚠️ 90-day moratorium: No benefit if cancer is diagnosed within 90 days of the effective date. 24-month pre-existing condition exclusion applies if cancer results from a pre-existing condition within 24 months of effective date.
How you can use the lump sum – no restrictions
The benefit is paid directly to you, tax-free. Use it however you need.
Pay off your mortgage, car loan, or credit cards while you can't work
Cover medications, specialist visits, and treatments not covered by your provincial plan
Travel costs to treatment centres – especially important outside major cities
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Support your spouse or a sick child – lost wages, childcare, accommodation near hospitals
Take time off work to focus entirely on recovery without financial stress
Pay for private care, home nursing, or second opinions not available in your area
Optional coverages & riders
Customize your CancerGuard with additional protection.
Prevention benefit
Pays 50% of insured amount (up to $25,000) for non-life-threatening cancers: carcinoma in situ (breast), Stage 1A melanoma, Stage A prostate cancer.
One benefit per contract lifetime
Critical illness rider
Adds 5 more conditions: stroke, coronary bypass, heart attack, paralysis, coma. Juvenile diseases covered if diagnosed before age 25.
Same tiers as cancer – up to $150,000
Return of premiums
50% of premiums returned at age 75 if no cancer benefit received. 100% returned on death while policy is in force. Must be under 55 at purchase.
Cannot be reinstated if policy lapses
Accidental fracture & AD&D riders
Same fracture and AD&D riders as ACCI 7 PLUS – up to $10,000 lump sum for fractures, up to $350,000 for accidental death or dismemberment.
Benefits reduced 50% from age 70
Key exclusions
CancerGuard does not cover the following. Please review the full contract for complete details.
Cancer diagnosed within first 90 days
Pre-existing conditions within 24 months
Carcinoma in situ (unless Prevention rider)
Non-melanoma skin cancers (unless metastasized)
Stage A prostate cancer (unless Prevention rider)
HIV/AIDS-related complications
Self-inflicted injury, war, criminal acts
Racing, hazardous sports (skydiving, heli-skiing, etc.)
Key contract terms
Reconsideration period 10 days from receiving contract, or 60 days from effective date – full refund
Grace period 30 days on all premiums after the first
Incontestability After 2 years, insurer can't contest except for fraud or age/sex/tobacco misrepresentation
Claim deadline Must be submitted within 365 days of the event
Diagnosis requirement Must be confirmed by a specialist in Canada or the US
Termination Age 75, death, full benefit paid, or non-payment of premium
Included free – Novus Health Second Opinion
Unlimited access for you, your spouse, and dependent children. Get your diagnosis and treatment plan reviewed by specialists at leading Canadian medical teaching institutions – for any condition, not just cancer.
No extra cost · No restrictions · Immediate access
Real cost example
Jade, 29, dental hygienist - $50,000 income, $3,000/month disability benefit:
Accident + injury only $35.90/mo
Accident + illness $67.40/mo
General rule: 1%–2% of income for up to 70% income replacement. Add CancerGuard for complete protection.
The basics
What you need to know
Instant approval – no exam
No blood tests, no medical exam. Clients interested in cancer insurance only are not required to answer critical illness questions. Approval at the point of sale.
Tax-free, no restrictions
The lump sum is paid directly to you, tax-free. Use it for mortgage payments, travel, treatments, lost income, or anything else – no receipts required.
Covers the whole family
Available from birth to age 65. Juvenile diseases covered under the CI rider for diagnoses before age 25. A family with a sick child can face $25,000+ in costs – this covers that.
Don't wait for a diagnosis to think about this.
CancerGuard is most affordable when you're young and healthy – before you need it.
Monday to Friday 9 am to 8 pm, Saturday 9 am to 5 pm · Ask EGE AI, 24/7
For information purposes only. Not an insurance contract. Underwritten by Industrial Alliance Insurance and Financial Services Inc. (iA Financial Group). See contract for full exclusions and limitations. EGE Insurance · egeinsure.ca · 416-477-1516