Toronto-based Insurtech PolicyMe has launched a new Critical Illness Insurance product that they claim offers the most complete coverage in Canada.
In partnership with and underwritten by Canadian Premier Life Insurance Company, this new product covers 44 conditions—10-15 more than the average Canadian insurer.
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With 42% of Canadian parents having one month or less of expenses in emergency savings, PolicyMe’s Critical Illness Insurance product provides Canadian families with the financial protection to withstand lost income or unforeseen medical expenses due to a critical illness.
The launch follows PolicyMe’s $18 million Series A announcement and will complement their existing core Term Life Insurance offering, enabling Canadians to gain accessible, affordable, and comprehensive financial protection across a wider range of health and life events.
“Having personally battled cancer years ago, I know first-hand how stressful a critical illness diagnosis can be,” says Jeff McKay, Co-Founder & CTO of PolicyMe. “By offering Critical Illness Insurance, we hope that we’re able to remove the financial stress of a diagnosis so our customers can focus on what’s most important: their recovery.”
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