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CRITICAL ILLNESS INSURANCE More and more Canadians are suffering from critical illnesses each year. Thanks to advances in medical science, the majority of people will survive. However, the financial effects of surviving a critical illness can be devastating. The cost of recovery can have a serious impact on your current lifestyle as well as your retirement plans . |
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Critical Illness insurance is designed specifically to help with the financial needs associated with recovering from a serious illness. Plans provide a lump sum, tax-free benefit in the event that you are diagnosed with any of the covered conditions. The benefit is paid after a 30 day survival period, and can be used in any way you choose: • Replace lost income for self and spouse/caregiver • Repay your mortgage and other debts • Gain access to private medical services or treatment outside Canada • Private nursing, home care and childcare services • Take an extended vacation • Make modifications to your home and/or vehicle • Maintain your lifestyle and retirement planning You select the amount of tax-free benefit from between $25,000 and $2,000,000. While the terms and conditions of some plans may vary, most Critical Illness policies provide coverage for the following illnesses, surgical treatments and conditions: |
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| Cardiovascular
Aortic Surgery Coronary Bypass Heart Attack Stroke Heart Valve Replacement |
Accident and
Functional Loss Blindness Coma Deafness Loss of Limbs Loss of Speech Major Burns Paralysis |
| Neurological Alzheimer's Disease Motor Neuron Disease (ALS or Lou Gehrig's Disease) Parkinson's Disease Multiple Sclerosis Bacterial Meningitis |
Vital Organs
Major Organ Transplant Major Organ Transplant on waiting list Kidney Failure |
| Tumours
& Cancer Cancer Benign Brain Tumour |
Other Aplastic Anemia Occupational HIV Injury |
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