Insurance Journal is a industry magaize that I subscribe too. On occasion they put out internesting comparisons of products or insurance companies.This month they have an interesting comparison of Living Benefits products from various insurer. 

Below you will find a comparison of the Critical Illness coverage provided by insurance companies across Canada. Not all products are created equal. This list shows the different conditions that are covered or not covered as the case may be. 

I have highlighted the products I tend to use in green. You will notice they are the most comprehensive of the bunch.

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They also had a good comparison of Non-Cancelable (good quality) Disability insurance. Manulife has a couple good DI policies, but they aren't included.  I don't personally use Manulife's DI policies, but only for the reason that I know RBC and Canada Life better and I have not yet found a situation where Manulife is the better option.

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For very high incomes and very skilled professions, Lawyers, Doctors, white collar business owners etc. I much prefer the RBC Professional contract. The wording is from an older DI policy from decades ago and you can actually read it! a 5 year old could read it and understand it. Most newer policies, not so much. It is my opinion that the RBC Professional policy is probably the strongest policy available today, but it is hard to get and is expensive as you might expect.

For Blue Collar business owners, and employees who want a high quality Disability Insurance plan I like Canada Life as their plan is more customizable and you can mix and match options to make a more affordable plan for those that don't need all the bells and whistles built into the RBC plan.

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Robert Reynolds, GBA

Certified Group Benefits Advisor

Hendry McKenzie Reynolds Employee Benefits Ltd.

Toll Free: 1-888-592-4614

rob@hmrinsurance.ca

www.hmrinsurance.ca

E.O. E.