Before we get into the reasons why you should have Critical Illness Insurance, let’s explain what it is. Critical Illness Insurance is designed to help with costs associated with Life altering illnesses such as Cancer, Heart Attack or Stroke.
Critical illness coverage provides a lump sum payment, tax-free, if you are diagnosed with a covered condition*. This payment can help you pay for the treatment you need and cover expenses if you are unable to work.
The most important point in this post about Critical Illness Insurance is don’t wait until it is too late! You can’t purchase Critical Illness Insurance after the fact.
Here are some reasons why you should look into Critical Illness Insurance:
- Chances of developing a critical illness before you are 65: 35%
- Chances of developing a critical illness before you are 81: 65-70%
- It will cover home care costs, medication or household bills
- You won’t have to use your personal savings our eat into your child’s RESP
- It allows you to focus on LIVING
- It allows you to focus on recovery
If you have any questions about this please don’t hesitate to contact us: