A critical illness can happen to anyone and it does happen to many. Canadians are more likely to experience a critical illness than they are to die before the age of 75.
Most policies cover from 20-25 serious illnesses. The major common illness with nearly all policies include; Heart Attack, Stroke, Cancer, Major Organ Failure.
As with Life insurance there are product options that include term and permanent insurance solutions. Dynamic Planning partners can explain the products and help you to determine which best suits your needs.
For most people, the diagnosis is just the beginning
If you become ill, your focus should be on recovery and regaining your health. Critical illness insurance pays a lump sum benefit following the diagnosis of one of the covered illnesses. It offers you choices and allows you to recover on your own terms.
Your benefit could allow you to:
- avoid withdrawing money from an RRSP or other savings or investments
- pay down debts such as your mortgage or loans
- choose medicine and treatments not covered by group, personal or government plans
- replace lost income so you have choices – for instance, your partner can take time off work to help you
- maintain your business by hiring a person to run it until you return to work>
Contact us to find out what Critical illness insurance product best suits your needs.