While healthy lifestyle choices can be your best defence against some health risks, a critical illness such as cancer, stroke or heart disease can strike anyone at any time. Facing a critical illness can be one of the most difficult challenges in life. Critical Illness Insurance is a simple solution – giving you an easy and affordable way to protect yourself and your family. This form of insurance will provide a one-time, lump-sum benefit which is usually payable 30 days after the diagnosis of a covered critical illness or condition. The types of conditions and illnesses covered vary from insurer to insurer, but typically include four of the most common critical illnesses and conditions – cancer, heart attack, stroke and coronary bypass surgery. Some insurance companies offer more comprehensive critical illness insurance coverage – covering up to twenty five critical illnesses and conditions.
Critical Illness insurance may also include additional benefits, such as:
• Return of Premium upon Death: With this option if the Insured dies without having made a claim for a covered illness, all premiums paid for this coverage will automatically be returned.
• Return of Premium on Expiry: If at policy expiry, you have not claimed your critical illness benefit, and your Critical Illness Insurance policy is still in force, you will receive your premiums back.
• Return of Premium on Surrender: You can terminate the coverage and receive total or partial refund of premiums paid since the coverage was issued.
• Second Event: Provides you with an additional lump-sum payment in case of a second event on a covered condition.
• Best Doctors®: Offers medical referral services designed to help you and your treating physician, improving the chance of a successful outcome through access to additional information about your medical evaluation and treatment options.
You can use the benefit payment in any way you wish, making living with one of the life-altering conditions more comfortable:
• Pay for mortgage and loan payments if you are unable to continue working.
• Pay for child care so that you can concentrate on recovery.
• Subsidize additional necessary health care not covered by provincial plans.
• Cover housekeeping costs or other day to day expenses.
• Keep up contributions to RRSPs and RESPs.
Our company provides Critical Illness Insurance plans from over 20 Canadian providers. You can choose a contract from Canada's top insurance companies: Manulife Financial, Desjardins, Industrial Alliance, BMO Insurance, RBC Insurance, Canada Life and others.
With me you are guaranteed to find the lowest rate on your coverage.