Quick answer
In 2026, critical illness insurance in Canada typically costs about $25 to $65 a month for $50,000 to $100,000 of 20-year coverage for a healthy non-smoker in their 30s, and much more after 45. One insurer's published May 2026 rates for $100,000 over 20 years were $44.46 a month for a 35-year-old man and $46.26 for a woman. Bank mortgage CI is priced per $1,000 of the starting mortgage, $0.17 at ages 30 to 35 at CIBC, and only pays off the mortgage.
Monthly Cost by Age: 20-Year Critical Illness, Non-Smoker Men
Published monthly premiums from PolicyMe (Canadian Premier Life), May 2026. Other insurers price differently, and plans cover different lists of illnesses.
| Age | $50,000 | $75,000 | $100,000 |
|---|---|---|---|
| 25 | $17.68 | $23.71 | $27.18 |
| 30 | $20.97 | $29.65 | $36.09 |
| 35 | $26.87 | $38.50 | $44.46 |
| 40 | $36.22 | $52.53 | $62.55 |
| 45 | $51.30 | $75.15 | $96.39 |
| 50 | $75.59 | $111.59 | $147.15 |
Critical Illness Cost Estimator
Individual estimate from PolicyMe's published May 2026 rates (non-smoker). Bank figure uses CIBC's mortgage critical illness rates per $1,000, single coverage, before tax.
Why Two People Pay Very Different Amounts
Age matters most. Between 35 and 50, the published price for $100,000 more than triples for a man.
The term. 10-year plans start cheaper but renew at a higher price. 20-year plans hold the price longer. Term to 75 or lifetime plans cost the most and can include a return of premium option.
The illness list. Basic plans cover a handful of conditions, full plans 25 or more, plus partial payments for early-stage conditions. A cheaper plan that skips the illness you actually get is no bargain.
Smoking and health. Smokers often pay 50% or more extra, and a family history of cancer or heart disease can raise the price or add exclusions.
Mortgage CI from the bank pays the mortgage only. Your own CI plan pays you, and you decide: mortgage, treatment, time off work, or a spouse taking leave.
Many families pick one to two years of income. Our critical illness calculator helps you size it.
Critical Illness Insurance Cost: Your Questions
How much does critical illness insurance cost in Canada?
For a healthy non-smoker in their 30s, roughly $25 to $65 a month for $50,000 to $100,000 of 20-year cover. Costs rise steeply after 45.
How much is $100,000 of critical illness insurance at 35?
One insurer's published May 2026 rate for a 20-year term was $44.46 a month for a man and $46.26 for a woman, non-smokers. Other insurers price differently.
Is bank mortgage critical illness insurance cheaper?
Not necessarily. CIBC charges $0.17 per $1,000 of the starting mortgage at ages 30 to 35, about $68 a month on $400,000, and the payout only clears the mortgage.
Is the critical illness payout taxable?
No. A critical illness lump sum paid to an individual policyholder is tax-free in Canada.
Can I get my premiums back?
Some plans offer a return of premium rider that refunds premiums if you never claim, at an extra cost.
Does critical illness insurance cover pre-existing conditions?
Usually not for conditions you already have or have symptoms of. The application asks about your health and family history.
Pankaj Bhatia, PFA, CHS
Pankaj is a licensed insurance advisor with offices in Mississauga and Cambridge, Ontario, and a member of Advocis. He helps families compare Super Visa and visitor plans from Canadian insurers and sorts out claims and refunds when plans change.
What Our Clients Say
★★★★★“Mr. Pankaj Bhatia is very professional, knowledgeable and responsive. He helped me get the best Super Visa insurance, and his after-purchase service is amazing.”
★★★★★“Pankaj not only answered every single question that I had, he also educated me about potential risks and mistakes that people often make.”
★★★★★“Pankaj is never in a rush to sell the product and gives you time to think and ask relevant questions.”
Read our Google reviewsLeave a review
Insurance companies we compare
Want real CI quotes?
Send your age and the amount you're thinking of. We'll compare plans and illness lists for you.