Critical Illness
Critical Illness Insurance coverage provides a lump-sum payment should you become seriously ill with a specified illness. There are no restrictions on how you use your benefit.
Critical Illness Insurance is a relatively new form of protection that provides money while you are still alive. It has tremendous flexibility. Should you become critically ill, there are no stipulations as to how you must spend the lump-sum of money that you receive. You don't have to get approval for expenditures, you don't have to provide any receipts, you don't even have to spend the money on medical expenses.
Critical Illness Insurance provides you with a lump-sum payment to be used however you see fit. If you want to try alternative therapies, be treated outside of the country, hire someone to take care of you, hire a nanny to take care of your children ... you choose how to spend your money.
If you die while the policy is in force, your estate may receive a refund of 100% of the premiums that you paid into your critical illness policy. Some policies even provide for a full or partial refund of premiums (what you paid) at certain dates.
Critical illness insurance covers specific illnesses only.
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Click here to open a planning sheet to help you determine how much critical illness insurance protection you may wish to have. |
Did you know that the probability of developing cancer is 1 in 2.6 for women and 1 in 2.3 for men? Did you know that the probability of developing heart disease is 1 in 3 for women and 1 in 2 for men?* How would your life change if you were one of these people? Imagine how having $100,000 or $250,000 deposited into your bank account would help during this time.
* Based on Heart and Stroke Foundation, 2004 and National Cancer Institute of Canada: Canadian Cancer Statistics 2004.
Please contact us to review your personal circumstances and see if you qualify for this protection.
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