Many Canadians are opting for critical illness insurance to bridge gaps in their health insurance coverage.
They are worried that some expensive drugs aren’t covered by medical plans and they will will not be able to afford for additional expenses such as rehabilitation costs or a spouse having to leave work to provide care.
Critical illness insurance gives a lump sum for a diagnosis of the critical illnesses listed in the contract.
- heart attack
- multiple sclerosis
- organ transplants
- kidney failure
- and more
Depending on the policy selected, additional conditions may also be covered. The policy ends when the benefit is paid.
Coverage can also vary according to the degree of severity of, or conditions associated with, an illness or disease. For example, if you are diagnosed with a type of cancer that is treatable and that results in minimal "down time", you will be eligible to receive a partial claim.
Do I Need Critial Illness Insurance?
Interested in learning more about Critical Illness Insurance and how it can protect you and your family? Download our free ebook: The Beginner's Guide to Critical Illness Insurance.