Friday, May 20, 2016

Critical Illness Insurance

A survey of Canadians across the country shows a disconnect between the likelihood of a critical illness and planning for the financial implications such an illness could bring to the average Canadian family. 

According to the survey,

Based on the above, more than half of Canadians are concerned about what may happen financially in the event of a critical illness. Despite the concern, three out of four Canadians are not physically, financially and emotionally prepared for a critical illness in the family.

As your financial advisors we are here to help secure your financial well-being and help you to plan for your future. If you are looking for additional protection on top of life insurance, Critical Illness Insurance is one of the things we suggest.

What is Critical Illness Insurance? This form of insurance pays out a lump sum cash payment should the insured be diagnosed with a critical illness. The money could then be used to help cover the costs associated with a life-altering illness, or replace lost income or any number of things.

Why consider Critical Illness Insurance?
  • Can help to reduce the stress a serious illness can take on your mental, physical and financial well-being.
  • The lump sum payout could be used for costs of living expenses including paying your mortgage or day to day bills.
  • It could help you to maintain your independence by assisting in the payment of treatments or services not covered by your typical heath care plan.
What is covered? Critical Illness Insurance, although it differs from plan to plan, typically covers up to 24 various illnesses and conditions including;
  • Cancer
  • Heart Attack
  • Stroke
  • Blindness
  • Alzheimer's
  • Multiple Sclerosis
  • Organ Transplants
  • Kidney Failure
  • Paralysis
Note: Coverage may also vary according to the degree of severity of, or conditions associated with, your illness or disease.

If you have never considered Critical Illness Insurance before, the time is now. Don't fall into the same gap that 50% of your fellow Canadians have. 

We want to help. Contact us today for more information or a quote.

Visit and take the quiz to see how your readiness stacks up.

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