Critical Illness Insurance

What is this product all about?

The current and increasing popularity of Critical Illness Insurance has evolved significantly over the last 5-10 years.

Dr. Marius Barnard, the founder of critical illness insurance, is known as one of the world's most acclaimed heart surgeons. It was through his medical findings that he realized the need for insurance was not because people were going to die, but because they were going to live.

Critical Illness Insurance pays a tax free lump sum amount to help through a diagnosis and survival of a major illness/event. Most plans cover:

Cancer
Heart Attack
Stroke
Blindness
Coma
Brain Tumor
Deafness
Loss of Limbs or Speech
Motor Neuron Disease
Severe Burns
Parkinson disease
Paralysis
Multiple Sclerosis

Why are we talking about this product now?

The 3 main drivers of Critical Illness Insurance are: Incidence, Survival with Consequence, and Randomness.

Incidence: Unfortunately, it has become much too common the high and ever-increasing number of Canadians who are being diagnosed with a critical illness

Survival with Consequence: This has become the most important element of Critical Illness Insurance. With the developments of medical science, we are seeing an increasing volume of people suffering cancer, heart attack, and/or stroke AND surviving - in fact, 9/10 heart attack victims are surviving 30 days. We are hearing the good news survival stories every morning, but the reality is that critical illness survivors often suffer long term consequences from the disease and/or treatment.

Randomness: Mario Lemieux, Lance Armstrong, Patrick Swayze, Farrah Fawcett, Michael J. Fox, Saku Koivu. Everyone has a story because of the randomness of suffering a major illness or disease.

What can this product do for me?

There are many options and alternatives that critical illness funds can provide during a financially and emotionally difficult time. The money and the flexibility can help you and your family with: