Critical Illness Insurance
Learn how critical illness insurance can help protect you and your family
Critical illness insurance
Critical illness insurance is a form of protection that can provide you with a lump sum payment if you suffer from a covered critical illness and the survival period is satisfied. The physical and emotional strain of a critical illness can be severe and when you combine that with the potentially damaging financial impact, the result can be devastating.
That’s where the critical illness benefit comes in. You are free to spend the money as you wish; such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It can help you where you need it most so you can focus all your energy on recovering.
A critical illness can happen to anyone:
- It is estimated there are over 70,000 heart attacks in Canada each year.
- There are between 40,000 and 50,000 strokes in Canada each year.
- An estimated 3,075 Canadians will be diagnosed with cancer every week.
Our critical illness insurance calculator can illustrate how critical illness insurance could help you if you were diagnosed with a critical illness.
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Critical Illness Insurance
Few people are prepared for the financial burden that can come with surviving a critical illness:
- Convalescence
- Private nursing costs
- Reduction or loss of income
- Child care
- Medical equipment
- Home refitting
There are many expenses that you may have to pay for if you are diagnosed with a critical illness.
Protecting you and your family
Critical illness insurance can help protect your finances against the high cost of dealing with a critical illness and rebuilding your lifestyle. It can help manage your expenses so you focus on getting better.
Protecting your business
You can use critical illness insurance to help protect your business.