Critical Illness Insurance pays a lump sum on initial diagnosis of a serious medical problem.You are permitted to keep the money even if you make a full recovery. It can be incorporated into another life insurance policy on a level term or whole of life basis, or as a stand alone policy. Once you have made a critical illness claim it is unlikely that you will be able to get further cover elsewhere in the future.
Who Should Consider Critical Illness Insurance?
Anyone who wishes to be protected against financial concerns resulting from a critical illness:
- Persons who would like to obtain specific medical treatments;
- Parents who would have to temporarily leave their jobs to devote themselves to the recovery of their child;
- Persons who would like to have home nursing care or to go on a trip to assist in their recovery;
- Business owners or self-employed workers who would have to compensate for the loss of productivity or clients after an illness.
Features and Advantages of Critical Illness Insurance:
Protect yourself financially against the critical illnesses with a policy that pays you a lump sum of up to $2 Million, tax- free, upon diagnosis. Use the money as you wish: pay off debts, stop working, take a long vacation, early retirement – it’s up to you. Critical Illness policies are guaranteed by the largest insurance companies in Canada.
Here’s the best part:
If you stay healthy, you can get back every dollar of premium paid, in full.
Critical Illness Insurance provides a payment if you experience a critical illness that is covered under the policy contract. You don’t have to be disabled to collect the benefits. Some illnesses which are covered under this are:
- Heart Attack
- Kidney Failure
- Organ Transplant
- Alzheimer’s disease
- Blindness & Deafness
- Multiple Sclerosis Coma
- Coronary artery bypass graft HIV (medical personnel only)
- Aortic Surgery
- Heart valve surgery
- Loss of sight/speech/hearing
- Severe burns
- Cancers that have spread
- Cancers that have not spread
Offering Critical Illness Insurance as part of a benefits plan can help employees protect themselves and their families if they should face a serious illness. Please contact us today for your no-obligation consultation.