Critical Illness Insurance

One in two Canadians will develop cancer in their lifetime. About 1.6 million Canadians currently have heart disease or are living with the effects of a stroke. These statistics from the Public Health Agency of Canada can be sobering, but a new poll found that Canadians aren’t preparing themselves to deal with these and other illnesses.

Critical Illness insurance lets you face illness without the financial worry. Upon diagnosis of a critical illness covered by your policy, you receive a lump sum payment that you can use as you see fit and thus focus on your recovery.

Critical Illness insurance does not replace your medical insurance and it is not a disability insurance policy. Rather it helps survivors manage the costs associated with recovery.

“The good news is that thanks to medical advancements, many people are surviving critical illnesses and living longer, fulfilling lives with their families. “But recovering from a serious illness can be expensive and other forms of insurance may leave a gap in your coverage. Critical illness insurance is designed to fill this gap and reduce the impact that an illness has on a family’s overall financial health.”

Depending on the plan, additional illnesses can be covered:

• Multiple Sclerosis
• Alzheimer Disease
• Paralysis
• Coronary Artery Bypass
• Kidney Failure
• Parkinson Disease
• Major Organ Transplant and Major Failure on Waiting List
• Motor Neuron Disease
• Bacterial Meningitis
• Aortic Surgery