Critical Illness Insurance

What is Critical Illness Insurance all about?

If you are diagnosed with a serious illness or are not able to perform the tasks of daily living you are eligible to receive a tax-free lump sum of money. Unlike life insurance, you don't have to die to receive payment and you may use the money in any way you choose.

Critical illness Insurance provides a financial benefit designed to ease the stress caused by monetary concerns at a time when your life is endangered by a critical illness. It provides money when it is needed most. It allows the insured to focus on the physical and emotional task of getting well.

Under the program an insured can receive up to 2 Million dollars tax-free.

If the program is not used the insured can receive a refund of their premiums.

The program covers the following illnesses:

• Alzheimer Disease
• Loss of Independent Existence
• Aortic surgery
• Loss of Limbs
• Aplastic Anemia
• Loss of Speech
• Bacterial Meningitis
• Major Organ Transplant
• Benign Brain Tumor
• Major Organ Transplant on Waiting List
• Blindness
• Motor Neuron Disease
• Cancer (Life-threatening)
• Multiple Sclerosis
• Coma
• Occupational HIV
• Coronary Artery Bypass Surgery
• Paralysis
• Deafness
• Parkinson’s Disease
• Heart attack
• Severe Burns
• Heart Valve Replacement
• Stroke
• Kidney failure

Why you might consider it:

Critical access to cash when you need it most. Cash to pay costs related to illness that are not covered by group or government plans.

This protection is particularly important for people who want to maintain their independent lifestyle.

Statistics from Canadian Cancer Society, Heart & Stroke Foundation of Canada and National MS Society:

• Heart Diseases
  One in 4 Canadians will develop some form of heart disease during their lives
  One in 2 heart attack victims is less than age 65
  82% of victims survive their first heart attack
• Cancer
  One in three people will develop cancer during their lives
  3 out of 4 families will be affected
• Multiple Sclerosis
  50,000 Canadians suffer from multiple sclerosis, one of the highest rates in the world
  Multiple sclerosis is twice as prominent among women than men
  The cause of the illness is unknown, and can strike anyone
• Stroke
  One in 20 people are at risk for having a stroke
  50,000 Canadians suffer from strokes each year
  75% of victims survive their first stroke