For a lot of us, the idea of experiencing a critical illness such as a heart attack, stroke or cancer can seem unlikely, but almost 3 in 4 (73%) working Canadians know someone who experience a serious illness. Sadly, this can have serious consequences on you, your family and business, with Critical Illness insurance, it provides a lump sum payment so you can focus on your recovery.
Critical illness insurance varies from policy to policy but the typical conditions it covers are heart attack, stroke and cancer. Unlike other types of insurance that provide income replacement, critical illness insurance provides a lump sum benefit that can be used in any way you choose.
The benefits of critical illness insurance
By having critical illness insurance, you can:
- Focus on your recovery
- Replace any income lost if you or your spouse need to take time off work
- Reduce debt that may have built up while you are recovering
- Consider treatments that are not covered by provincial health
- Provide financial support if you need additional help at home
Does it make sense to get Critical Illness Insurance?
You will likely consider if your life, group or disability insurance is sufficient, the question is, will you be able to have enough to protect you and your family in case of a heart attack, stroke or cancer?
We can help you with this, please don’t hesitate to reach out to us.
