Critical Illness Insurance for Entrepreneurs & Contractors: Income Protection That Pays You Back
Discover how critical illness insurance helps self-employed Canadians protect their income and savings—and how you can get your premiums back after 15 years.
Why Critical Illness Insurance Is a Smart Move for Contractors & Small Business Owners
Critical Illness for Small Business Owners
If you're a contractor, entrepreneur, or self-employed in Canada, your income relies entirely on your ability to work. But what happens if a serious illness takes you off the job?
Critical illness insurance is designed to protect your income, savings, and financial stability if you’re diagnosed with a major illness like cancer, heart attack, or stroke. It pays out a tax-free lump sum that you can use for:
Mortgage or rent payments
Out-of-country medical treatments
Household expenses and groceries
Supporting your business while you recover
Paying off personal or business debt
Unlike disability insurance, which provides monthly income replacement, critical illness insurance gives you financial freedom to use the payout however you choose.
Bonus Benefit: Return of Premium After 15 Years
Here’s a little-known but powerful feature: return of premium.
If you keep your critical illness policy for 15 years and choose to cancel after that time, you can receive 100% of the money you paid in premiums—back in your pocket. That means if you never make a claim, your policy acts like a financial back-up plan with built-in savings.
Income Protection Built for the Self-Employed
As a small business owner or tradesperson, you don’t pay into Employment Insurance (EI)—so you need your own plan. Critical illness insurance gives you control, flexibility, and peace of mind without relying on government programs.
Whether you're on the jobsite or running your business from a laptop, this coverage keeps your income and future secure—even if life throws you a curveball.
Let’s Build a Plan That Pays You Back
I specialize in helping contractors and small business owners across Alberta, British Columbia and Ontario understand and implement simple, affordable insurance plans—without the jargon or confusion. I keep it quick and efficient, everything can be handled over the phone and by email. I know how valuable your time is.
