Canadians Voice Growing Concern Over Critical Illness
A new survey shows that 67% of Canadians worry about a serious diagnosis, yet few hold dedicated insurance coverage.
Updated on Oct. 28, 2026 in Financial Planning
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Sixty-seven percent of Canadians express concern about a critical illness diagnosis, an increase from 57% in 2025. Despite this anxiety, only 10% of the population reports holding critical illness insurance.
Why it matters
The survey highlights a significant gap between financial anxiety regarding health crises and concrete preparation. Many working Canadians lack clear visibility into their sick leave benefits or alternative income sources during prolonged recovery periods.
A survey of 1,501 Canadians found that 67% worry about critical illness, while 35% of workers estimate their savings would last less than six months. Furthermore, 20% of workers remain unsure how they would cover essential living expenses.
The players
RBC Insurance
This subsidiary of the Royal Bank of Canada provides a range of individual and group insurance products.
Ipsos
This global market research and consulting firm provides public opinion polling and survey data analysis.
The details
While 26% of Canadians report feeling more anxious about the potential financial burden than the health diagnosis itself, 39% would feel guilty relying on friends or family for support. Many working Canadians expect to draw from personal or retirement savings if they were unable to work due to health issues.
Timeline
2025: Fifty-seven percent of Canadians were concerned about critical illness.
September 25 to 29, 2026: Ipsos conducted the online poll.
2026: Sixty-seven percent of Canadians report critical illness concerns.
Market Dynamics
This trend mirrors a broader shift toward individual financial responsibility as public anxiety concerning healthcare costs continues to rise. It underscores the ongoing structural challenge of bridging the gap between perceived risk and private coverage in the Canadian market.
For the average Canadian, this survey emphasizes the importance of auditing your current emergency fund and reviewing your existing employer-provided sick leave. If these are insufficient, individuals may need to consider if standalone critical illness insurance fits their risk tolerance.
The takeaway
Canadians should proactively clarify their current access to paid sick leave to better assess their own financial vulnerability. Recognizing that financial guilt often stems from a lack of formal planning may encourage individuals to explore insurance options before a crisis occurs.
Further reading
For more information on preparing your finances for health challenges, visit the Financial Planning section.
More information
Review available coverage options and tools on the RBC Insurance official company website.
Source note: This article includes information reported by Stratford Beacon Herald.
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Is now a good time to invest in critical illness insurance for your personal financial security?
