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Protect your family with Critical Illness Insurance

As Canadians, we are covered for medical emergencies under provincial health plans; hence, most of us do not think about the financial consequences related to illness because we feel protected by our government’s health program. However, in the event of a critical illness, substantial costs and dire circumstances can have a major impact on your life – critical illness insurance can at least give you some peace of mind in knowing that the financial repercussions of a serious illness would be handled.

It Could Happen to You
No one wants to think about it, but the truth is that a critical illness such as cancer or a heart attack can strike anyone regardless of their age, health or medical history. It is difficult to prepare yourself for the life-changing ramifications that accompany that type of diagnosis. Consider these few statistics:

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-40% of women and 45% of men in Canada will at some point in time face cancer.
-10,000 cases of cancer are diagnosed in adults aged 20-44 years annually.
-A Canadian has a heart attack approximately every seven minutes.
-A Canadian has a stroke approximately every ten minutes.

While you may not be able to prepare yourself mentally or emotionally, you can prepare yourself financially with a critical illness insurance policy.

What Can Critical Illness Insurance Do for You
Your medical bills, in the event of a critical illness, should be for the most part covered under your provincial health plan, but the program has limitations. What if you choose to seek treatment outside the country? Or require long-term in-home care or private nursing? These are just a few of the extra expenses that a critical illness insurance policy can cover.

A serious illness involves more than just medical bills. When it strikes, other worrisome issues arise, such as paying your bills when you are unable to earn income, and maintaining your family’s certain life style, which you have worked so hard to achieve. A critical illness insurance policy provides you with a lump sum of money that can be used however you choose. It will help you get through a difficult time as it can be applied to just about any costs including:

-medical bills
-mortgage payments or rent
-utilities
-tuition for your children
-outstanding debts

With bills out of the way, you can focus on recovering your health rather than worrying about financial issues.

Peace of Mind at Any Age
Every Canadian can benefit from carrying a critical illness insurance policy, no matter their age or health status. It is important to bear in mind that the younger and healthier you are, the lower your premiums will be for a policy of this nature. Just like life insurance, purchasing critical illness insurance is a choice best made long before it is needed. Having funds available to keep your life in order during difficult times can make a big difference.

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