Critical Illness Insurance

What is critical illness insurance?

Critical illness can give you a tax-free payment if you’re diagnosed with a serious condition. Your contract will define which conditions you’re covered for, but some examples include cancer, heart attack or stroke.

How does it work?

• Choose the coverage amount you want.

• Pay your premium.

• File a claim if you’re diagnosed with a critical illness.

• Receive your payment. You may have to wait a set period of time depending on your condition.

Why do you need critical illness insurance?

• It’s more common than you think
  A serious, life-altering illness affects one in three Canadians in their lifetime.

• Cover daily costs
  Use your payout to help with your expenses while you recover.

• Protect your retirement savings
  Don’t dip into your RRSP or other investments to pay for additional medical costs.

• Focus on your recovery
  Concentrate on getting healthy knowing your benefit payment can help with your finances.

Have you thought about getting critical illness insurance? 

Now may be the time! Canada Life is offering a 5% reduction in premium on critical illness insurance.

Here’s what you need to know:

• The reduction in premium is applied to the total premium for the life of the policy, including renewals.

• Includes additional benefits, reissues (if original policy qualified for the discount) and rated premiums.

Understand the benefits of critical illness insurance

Critical illness can provide you the financial support you need during life’s most challenging moments. Focus on what matters most – getting better and being with family.

Some ways you could use a critical illness insurance payout include:

• Protect your family savings – manage everyday costs (mortgage, food, vehicle costs, etc.).

• Unexpected expenses – hospital parking, private or out-of-country medical treatment.

• Financial planning – helps give you financial control while you’re dealing with a life changing medical condition.
   

Learn more about critical illness insurance, how it works and why you may need it.
 

If you’re interested, I’d be happy to share more details with you and work together to determine which insurance products best fit your needs.

What happens if you don't experience a critical illness?

You can add a return-of-premium benefit to your critical illness insurance policy. If you don’t experience a serious illness after as early as 10 years, you can choose to get your money back. If you choose this option your policy expires.