What Is It?
Critical illness insurance provides a lump sum cash payment when you suffer a life-altering illnesses. If you become sick and survive the insurance policy’s waiting period, you receive a lump sum cash payment.
Why do you need critical illness insurance?
Your best defense against health risk is a healthy lifestyle, however, a critical illness such as cancer, health disease or stroke can happen to anyone at any moment.
- One in three Canadians will develop a life-threatening cancer(1).
- One in two heart attack victims are under 65 years old(2).
- Each year, 50,000 Canadians suffer a stroke. Of all stroke victims, 75% will be left with a disability(2).
If you're ready to consider purchasing, our consultants will provide you with the advice to find the right type of coverage.
Provincial health insurance does not cover expenses such as private nursing or modifications to your home or vehicle to improve your mobility. Other challenges such as finding the best medical care, day-to-day needs like child care and managing the stress must be taking into account as well.
Consider long-term care.
If I suffered a critical illness, I would like to use the benefit to:
Personal Expense(?):Mortgage, debts, loans, etc.
Cover Business Expenses(?):Hire a replacement during recovery, meet other obligations, etc.
Top up Disabliity Coverage(?):The difference between pre-disability income and disability benefit x 12 months.
Medical Care(?):1. Pursue complementary or alternative medical care.
2. Purchase equipment or assistive devices.
3. Modify my home or vehicle so I can continue to live independently.
4. Purchase rehabilitation, home care, homemaking or childcare services.
Retirement Savings or Education Funds(?):Monthly contributions x 12.
Total Estimated Funds Needed: