Critical Illness
A critical illness plan provides a lump-sum payment in the event of a specified critical illness, available as a stand-alone product or rider on disability or life insurance policies. The most common of the insured critical illnesses are cancer, heart attack, coronary artery bypass surgery, stroke, and kidney failure and major organ transplant. In addition there are a number of other illnesses that are covered.
Many who suffer from a critical illness are unprepared for the financial burden, which may not be covered by provincial medical funding or employer group benefits. You can use the lump sum benefit you receive from a critical illness plan to cover some of the extraordinary costs associated with a critical illness, to pay off debts, or fund a recuperation vacation. The choice is yours because you are in control.
To find out more about critical illness plans give us a call.
