WHAT IS CRITICAL ILLNESS?

Whether it’s cancer, heart disease, multiple sclerosis or stroke, it is difficult to foresee who will be affected. However, statistics reveal that more and more Canadians, and especially more and more young people, will encounter a critical illness during their lifetime. In addition to having to face a serious illness, several important costs related to medical treatments remain not covered by provincial health insurance plans. Critical illness insurance plays a key role in the financial plan of families and businesses. As a result, you can devote 100% of your energy to your recovery process, without worrying about the financial implications of the illness.

HOW DOES IT WORK?

In the event of a serious medical condition, critical illness insurance allows you to do the following:

Finance the medical costs for any specialized treatments you may choose
Take care of your financial obligations (such as paying your mortgage or personal debts)
Fulfill your financial needs during recovery, while you are unable to work
Make home nursing care available for you
Allow your spouse to leave work for a time, to be with you and by your side
Pay for any child care expenses
Support a training program, should you decide a new career path

Additional Critical Insurance features:

Payment of a lump sum, ranging from $10,000 to $2,000,000 is paid 30 days following the diagnosis of a major medical condition
Does not affect disability insurance – all sums are paid on top of any existing medical or disability insurance plans
Amount paid is tax-free
You may choose to be covered for 10 years, 20 years, up to age 75, or for life
If you develop no critical illness during the duration of the policy, the option of a 100% refund of premiums is available in the event of death and maturity of the policy.