Critical Illness Coverage
A serious illness or disease can have a devastating affect on you, your family and your financial situation. It is impossible to predict when and where a critical illness will strike but it is possible to plan for this type of situation. Critical Illness provides you with financial protection during this emotional period and ensures you piece of mind for your loved ones as well as yourself.
What is Critical Illness Insurance?
Critical Illness will pay you a specific lump sum if you have been diagnosed with a severe illness and survive for 30 days. This payment can be extremely important to you. Your finances are the last thing you want to think about during this time. The money is to be used at your discretion, whether it is for better treatment, removing financial burdens while unable to work or to take that “dream” vacation.
What are some people using critical illness payouts for?
The benefit paid can give you the financial freedom to focus on what really matters… getting better. The money is yours to use any way you want. For example, you can:
• Find the best health care available – anywhere
• Hire a nurse or caregiver to help you at home
• Pay off your mortgage
• Replace lost income
• Take a vacation or reduce your workload to help you recover
• Funding a retirement plan (think of the cost of having to cash in your RRSP’s)
Critical Illness Covers the Following
· Heart Attack
· Stroke
· Coronary Bypass Surgery
· Prostate Cancer
· Other life threatening cancer
In Addition, the following conditions are insured, depending on which insurance company is chosen (Enhanced Coverage):
· Multiple Sclerosis
· Parkinson's Disease
· Kidney Failure
· Paralysis/Paraplegia
· Major Organ
· Transplant Severe Burns
· Aorta Graft Surgery
· Balloon Angioplasty
· Benign Brain Tumour
· Blindness in both eyes
· Coma
· Coronary Artery Disease
· Heart Valve Surgery
· HIV through Blood Transfusion
· Pre Senile Dementia (Alzheimer's)
· HIV Medical Profession
· HIV Assault with Needle
· Loss of Hearing
· Loss of Independent Existence
· Loss of Limb
· Loss of Speech
· Motor Neurone Disease
Expense to You
Premiums are based on:
· Age
· Amount of Coverage
· Gender
· Smoking Status
· Renewability of the Policy
· Definitions Within the Policy
Why Add Critical Illness To A Group Benefits Plan?
If you are managing your group benefits consider the benefits of Critical Illness insurance:
· Increase loyalty as it is a benefit that addresses a sensitive situation
· The policies are flexible and can vary inexpensive depending on what illness are insured
· An affordable employee benefit
· Decrease pressure of supporting critical ill employees
· Experiencing a critical illness can result in considerable debt, this benefit elevates some of the burden associated with experiencing a critical illness
Contact us today to set up an appointment and we can work together to determine the most suitable Critical Illness policy that reflects your needs and balances security and cost. Whether you are an individual looking for peace of mind or a business concerned with protecting your employees please contact us with any questions and we will be happy address them.
Help bring you piece of mind knowing that your family is being taken care of properly.
