Why Do I Need Critical Illness Insurance?
Just take a look at how often such critical illnesses occur. It might surprise you to learn that: One in four Canadians now suffer from stroke related illnesses. And this year alone, 134,100 new cases of cancer will occur. One in two men and one in three women aged 40 and under will develop coronary heart disease in their lifetime.
The good news is that the chances of survival these days are excellent. The problem with critical illnesses today is that the cost of your recovery could have a serious impact on your everyday and your long-term finances.
The solution for many of us may be an affordable Critical Illness Insurance Plan. Critical Illness Insurance helps you protect your savings and your assets. It pays out a tax-free lump sum if you are diagnosed with a serious illness, such as heart attack, cancer or stroke.
This money helps you put your recovery first. It can be used to replace lost income, pay off a mortgage, clear outstanding debt or keep a business going during your crucial recovery period. It can also provide you with the funds necessary to get alternative treatment options, if required. And, if you should die without making a claim, your premiums will be completely refunded.
Thanks to the advances of medical science, we can all be optimistic about living a longer, more comfortable life. It’s a fact. But we can’t ignore another fact: many of us will experience life-altering illnesses. |
