What is critical illness insurance?

Critical illness insurance is an insurance policy, in which the insurer is obligated to make a lump sum cash payment if the insured is diagnosed with a critical illness listed in the insurance policy. Conditions that are typically listed in a critical illness insurance policy are heart attack, stroke, cancer, multiple sclerosis, kidney failure, blindness, and other debilitating illnesses.

The most frequently relied upon reason for critical illness claims denial is misrepresentation on the application. In other words, the insurer alleges that insured person was not truthful about his or her medical history when they applied for the insurance.

As well, the definition of the critical illnesses listed in critical illness policies are becoming more narrow and more precise, which will likely lead to a higher incidence of claims denial and disputes as to whether the critical illness in question falls under the definition as set out in the policy.

There is a growing body of case law in Canada that shows that the Court often disagrees with the insurance company’s position on misrepresentation. Also, sometimes there are grounds to make a claim against a negligent insurance broker or advisor who advised about a critical illness insurance policy or sold the policy.

Maximizing the value of a critical illness claim is a complex task, and one which requires a great deal of skill and knowledge. Jan Fishman is a Vancouver Critical Illness Lawyer with the skill and knowledge you need to maximize a critical illness claim.

Has your critical illness claim been denied? Contact Jan Fishman and put his experience to work for you.