Understanding The Long Term Care Insurance Market In Canada

We’ve had clients panic when hearing about a merger or acquisition involving their insurance provider. The good news? Your contract stays legally binding. However, we always review policy terms annually with our clients to ensure you’re aware of administrative changes, claim submission contacts, or any shift in service standards. When something changes on the back end, we help you stay protected on the front end.

Yes—but it depends on how recent the treatment was and how stable your condition has been. We’ve helped several clients who disclosed anxiety, depression, or PTSD history still get approved by selecting the right carrier. At Canadian LIC, we work closely with underwriters, provide clear documentation, and coach clients on what to expect during the health interview. It’s not always a disqualifier.

Absolutely. Your policy follows you nationwide. That said, not all services are priced the same across provinces. For example, private home care in BC might cost more than in Manitoba. We help our clients plan for this in advance and often recommend flexible benefit structures that won’t penalize you based on where you live or move to later in life.

It depends on the policy terms. Some insurers allow compensation to family caregivers under formal agreements or if they’re registered support workers. We help clients structure this properly — from CRA implications to service agreements — so loved ones can be paid fairly without jeopardizing benefit eligibility or tax status.

We hear this concern often, especially from healthy, active individuals in their 40s and 50s. While some plans don’t offer refunds, others include a return of premium or death benefit option. More importantly, we help clients understand that insurance isn’t about loss — it’s about protection. If you don’t need it, that’s the best-case scenario. But if you do not have it, it can derail everything you worked for.

Some plans offer premium flexibility during financial hardship, but not all. That’s why we guide clients to choose policies with built-in grace periods, reinstatement clauses, or limited pay options (like paying premiums for only 10 or 20 years). We also help set up pre-authorized debit buffers so coverage doesn’t lapse accidentally during tough times.

Yes, if you qualify before diagnosis. However, what many people don’t realize is that early cognitive decline is often subtle and missed during applications. At Canadian LIC, we train our advisors to spot early warning signs in family history and guide clients toward early applications — before diagnosis closes the door. We also push for cognitive assessments where necessary.

Yes — and they’re not interchangeable. We’ve had clients who assumed their group disability plans would cover them during old age. They won’t. Disability insurance replaces income, typically until age 65. Long Term Care Insurance covers services needed after that, when daily function declines due to aging or illness. We help clients structure both for continuous protection throughout life.

Yes, as long as they qualify medically and sign the application themselves. We often see adult children who want to take responsibility for their aging parents’ future. We make the process simple by setting up joint consultations, assisting with paperwork, and structuring payment options so the child funds the premiums while the parent remains the policyholder.

When a claim arises, it’s often an emotional and stressful time for families. That’s why we step in directly — helping gather medical reports, coordinate assessments, and speak with claims examiners on your behalf. We don’t walk away after the sale. Our team stays on to ensure you get the benefits you’re entitled to — as fast and as smoothly as possible.