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Cystic Fibrosis Life Insurance In Canada

What is cystic fibrosis?

Cystic fibrosis is a disease that usually affects children and young people. The usual life expectancy (on average) for people with cystic fibrosis is about 37 years. It is considered a critical illness and affects different parts of the body, primarily the lungs and the digestive system. The disease has been described as trying to breathe through nothing more than a drinking straw for the rest of your life, with the effort required to breathe increasing as you age.

The disease is the result of a gene mutation. This mutated gene must be passed on to the child from both parents for the disease to occur. According to Cystic Fibrosis Canada, one in 3,600 children born in Canada inherits the disease and it is more common in people of Northern European descent and least common in Africans and Asians.

The US National Library of Medicine states that the average annual healthcare costs for cystic fibrosis treatment are about $10,000 per year for mild cases, $25,000 for moderate cases, and $34,000 for severe cases. Lifetime costs average about $306,000 – hence the limits on coverage for that critical illness.

Eligibility and Policies

Not everyone can qualify for cystic fibrosis life insurance – it’s mostly younger people or children who might qualify for coverage. Cystic fibrosis in adults is quite rare and therefore often not covered; According to insurance experts, it is not an approved illness on any adult critical illness policy available in Canada. A few companies, however, cover cystic fibrosis through a child’s CI policy up to a maximum age of 18, 21 or 25 – depending on the carrier.

Having a critical illness plan that includes a Cystic Fibrosis insurance caveat for children means that the parent, as the policyholder, would receive one lump sum which can be used for various purposes, e.g. for the treatment of the child. Some providers also offer premium refunds if children are not diagnosed with a critical illness.

A broker can help

Not all insurance brokers have experience with this type of insurance policy. If you or someone close to you has this condition and is considering life insurance, talk to a broker knowledgeable in this space about your options.

Insurance policy tips: Be sure to inquire about simplified and guaranteed illness policies as these non-treatment options are often used by people who find it difficult to insure. Life insurance greatly eases the financial burden of medical bills and end-of-life expenses. Many people who traditionally did not qualify for insurance now have policies designed specifically for those suffering from a critical illness.

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