Sun Life Financial Canada has introduced a new critical illness insurance product that covers 24 illnesses in full, plus four additional illnesses at a partial payout level.

The new Sun Critical Illness Insurance was unveiled Thursday at the Third Annual World Critical Illness Insurance Conference in Toronto.

The company said that unlike disability insurance, Sun CII is not based on a person’s inability to work—the payment is made even if the insured makes a full recovery.

“Sun CII is one of the only products in Canada that features a stand-alone child plan,” the company said. “The child plan covers the same illnesses as the adult plan, plus five childhood illnesses: cerebral palsy, congenital heart disease, cystic fibrosis, muscular dystrophy, and type 1 diabetes. “

Sun CII will be available through both the Clarica and Wholesale distribution channels. Sun CII is targeted to the affluent and business market and complements Clarica CII, which is aimed at the needs of the mid-market.