Basic Critical Illness Insurance is designed for those that are aware that there is a strong chance that they could suffer cancer, heart attack or stroke in their lifetime and want a simple and affordable way to cover the financial risk of these illnesses.
Canadian statistics indicate that one in three people will suffer a critical illness in their lifetime. Survival rates are strong for heart attack, cancer and stroke, but there is often a financial cost. The financial cost includes lost income, expenses related to the medical treatments, certain drug costs, travel costs, and it all adds on to the regular household bills and increases stress.
If you were diagnosed with cancer or had a heart attack or stroke … would a lump sum of tax free money help you? What if your disability insurance told you to go back to work but your Doctor suggested that you work less? Basic Critical Illness Insurance could fill that gap. The other gaps it could fill include:
A basic critical illness insurance policy will pay $25,000 for you to spend however you wish. This tax free payment comes 30 days following a diagnosis of cancer, heart attack or stroke (some policies also cover coronary bypass or aortic surgery). This money will ensure that you have less to worry about financially so you can focus on your health.
Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.
Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.
Always speak with a licensed insurance representative about your specific situation.
This site is general in nature and there may be errors or ommissions