Critical Illness

Critical Illness - An important Financial Safety Net to protect your Lifestyle

It is estimated that there are over 70,000 heart attacks in Canada each year
There are between 40,000 and 50,000 strokes in Canada each year
An estimated 3,075 Canadians will be diagnosed with Cancer every week – that is 159,900 Canadians in a year!
Approximately 67% of all critical illness insurance claims paid are for Cancer!
46% of critical illness claims are made by women with an average age of 49
54% of critical illness claims are made by men with an average age of 54

Why? Critical Illness Insurance Should be Purchased

The original reason that critical illness insurance was designed still holds true today – to assist individuals financially who have been recently diagnosed and survived a critical illness.

Critical illness is defined as a life-threatening illness like heart strokes, cancer, organ transplantation, organ failure, etc.

As you grow old, the risk of having critical illness increases.

People dealing with a critical illness have to bear a lot of mental as well as financial stress – You are concerned about the impact a critical illness could have on your family’s finances.
You or your family wishes to complement existing individual income protection plans.
You or your family wishes to complement existing group or association disability insurance plan.

Critical Illness

What is Critical Illness Insurance

$ 119.10

Critical illness insurance provides a financial cover in case of emergencies like heart attack, bypass surgery, or cancer.

All critical illness insurance plans will pay a lump sum benefit, even if you recover fully or do not suffer a loss of income or reduced ability to work.

The cost of life-threatening diseases is extensive and standard health insurance covers a fixed amount.

For most conditions, your benefit will be paid to you after a 30-day survival period.

Conditions covered can vary from one plan to another, but in general you can expect to see the following conditions covered:

Treatment of any type of critical illness can ruin the financial health of an individual or entire family.

The insurance covers a round-up amount, starting from $25,000 and more in case you get diagnosed with any critical disease or get severely ill.

Critical Illness is needed because

Paying off or reducing your mortgage, credit cards or other debts.
Help keep your business running.
Continue contributing towards your retirement as opposed to having to go into debt or withdraw money from your retirement savings that would lead to a diminished retirement plan.
Ensure that your families’ current standard of living is not interrupted.

Paying for the modification to your home or vehicle to improve your mobility.
Allowing you to hire domestic help or private nursing to assist you during your recovery.
Allowing you to pay for child care while you are recovering.

You may choose to delay return to work to spend more time with your family!

Perhaps that long family vacation will allow you to all build many happy memories while you focus on getting well!

It is a tax-free insurance.
No Financial burden resulting in lower stress levels.
Option of getting medical expert opinions and exploring different options for treatment.
Provide emotional support like counselling, diet consultations, legal and financial guidance, etc.
Policy provides lifetime coverage.

3 big advantages of having Critical Illness

If you suffer one of the covered critical conditions identified in your policy, you will receive the lump sum benefit you purchased. This provides you with a “living benefit” in a time that you require financial security.
If you pass away either due to any natural causes such as an accident or you do not survive the diagnosis of your Critical Illness for the 30 days, 100% of the premiums that you have paid into your policy will be paid to your beneficiary or your estate.
If your policy expiration date is near (usually age 65 or 75) and you have made no claim on your policy, then up to 100% of the premiums paid into your policy are returned to you & you can add it to your retirement nest.

Critical Illness

Critical Illness - An important Financial Safety Net to protect your Lifestyle

Why? Critical Illness Insurance Should be Purchased

Critical Illness

What is Critical Illness Insurance

$ 119.10

Critical Illness is needed because

3 big advantages of having Critical Illness

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