No one plans to get sick, but when something unexpected happens you can help yourself and your family by being financially prepared. It’s more common than you think. A serious, life-altering illness affects one in three Canadians in their lifetime. Critical Illness insurance is designed to help ease the financial impact of a life-threatening illness. Maintain and protect what matters most. Then you can focus on your recovery.

A critical illness coverage plan for children affords quality protection to help provide families with the financial resources to support the recovery and care of a child in the event of a critical condition and help ensure the child’s future insurability.

Critical illness insurance can help reduce financial stresses at a critical time in your life, and can complement disability and life insurance protection needs. It offers you and your family – as well as your business – the financial resources to help pay for additional expenses often associated with a critical illness or condition.

The advantages of critical illness insurance include:

1. A tax-free¹, lump-sum² payment³ that you can use however you wish (e.g. to make mortgage payments, seek medical treatment outside Canada, help your business continue in your absence, home nursing care, etc.).
2. Coverage for over 25 critical illnesses or conditions. Your contract will define which conditions you’re covered for, but some examples include cancer, heart attack or stroke.
3. You may receive payment even if you’re not disabled from work.
4. Options are available that provide a return of premium benefit.
5. Individuals unable to obtain disability insurance for various reasons can, in some cases, still qualify for critical illness coverage (e.g. a non-income earning spouse).

Ask yourself this: Would you be able to keep your finances on track if you have to pay medical expenses or have reduced income? If you’re worried you can’t, then you may want to consider getting critical illness insurance to help protect yourself and your family.

We can help you determine if critical illness insurance fits into your financial security plan. Contact us today to find out more about critical illness insurance.