Life Insurance Calgary

Critical Illness Insurance

Critical Illness Insurance

Critical illness insurance is a type of insurance that helps you if you become critically ill. There are many different conditions that might be covered under a critical illness policy but the most common are heart attack, stroke and cancer.

Typically, critical illness insurance provides a tax free lump sum of money when a specific condition is diagnosed. The money can be used for any purpose, but is really about helping you survive a critical illness. No one needs added financial stress while trying to recover.

Your Lump Sum of Money Can Pay For:

(1) Immediately access to top quality treatment.

(2) Finding alternative medical treatments anywhere in the world.

(3) Hiring a caregiver, hiring domestic help, or taking a leave of absence from work.

(4) Paying for the many hidden and unexpected costs that will not be covered under government health care.

(5) Mortgage or debts.

(6) Or you can use the payment any way you choose.

Before reaching age 75, Canadians are more likely to have a critical illness than they are to die.

1 in 3 people are struck by a serious life threatening illness

85% of critical illness claims paid out in 2009 in Canada were for cancer, heart attack and stroke.

Be Careful: When buying any type of insurance, use an insurance broker who can work for you and has access to the majority of insurance carriers. Most insurance agents (not brokers) only work for one insurance company and tend to push their own products.

TIP: Many critical illness insurance plans include Best Doctors support.

TIP: Consider early on whether you want critical illness insurance on your children, if they became critically ill, would you be available or able to leave work to look after them?