It is a fact that one out of every three Canadians will contract a life-altering illness during his or her lifetime.
Few people are prepared for the financial burden that comes with surviving a critical illness: convalescence, private nursing costs, reduction or loss of income, child care, medical equipment, home refitting... the expenses can be overwhelming.
Critical Illness Insurance can protect your finances against the high cost of rebuilding your lifestyle following a critical illness.
Critical Illness insurance is a relatively new form of protection that provides money while you are still alive. It has tremendous flexibility if you become critically ill because there are no requirements for how you spend the lump-sum of money that you receive. You don't have to get approval for expenditures, you don't have to provide any receipts, you don't even have to spend the money on medical expenses.
Critical Illness insurance provides you with a lump-sum payment to be used however you see fit. If you want to try alternative therapies, you want to be treated outside of the country, you want to hire someone to take care of you, you want to hire a nanny to take care of your children...you choose how to spend your money.