There are many types of insurance coverages in the marketplace, and it can be overwhelming to decide which coverage is right for you. There’s Life, Health, Home, Auto, Dental & Liability insurance just to name a few. But, there are only a few specific types of coverage options that can pay yourself in the event of an illness. Critical Illness is the answer. Let’s take a deeper dive into this product.
What is a Critical Illness Insurance?
Critical Illness is designed to help you recover financially from an illness. If you survive 30 days after being diagnosed the one-time tax-free lump sum payment will be made directly to you to help with any treatment or missed time at work. How often do you hear stories about loved ones getting diagnosed with Cancer and having to miss time at work to recover or withdraw funds from their RRSP to help with the ongoing medical cost’s. Unfortunately, these stories are becoming far too common. This is where Critical Illness insurance can help. Let’s look at a few of the illnesses that are typically covered in a standard policy.
Common Covered Conditions
Cancer (Life Threatening)
Benign brain tumor
Stroke
Dementia, including Alzheimer’s disease
Heart attack
Multiple Sclerosis
Motor neuron disease
Acquired brain injury
Kidney failure
Heart valve replacement or repair
Loss of limbs
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Why you need Critical Illness Coverage
Proudly Serving all areas of NS and Atlantic Canada
Amherst / Antigonish / Bedford / Bridgewater / Chester / Coleharbor / Dartmouth / Digby / East Hants / Halifax / Liverpool / New Glasgow / New Minas / Port Hawkesbury / Sackville / Sydney / Truro / West Hants / Yarmouth