Critical Illness Insurance
Critical illness insurance is a form of protection that can provide you with a lump sum payment if you suffer from a covered critical illness and the survival period is satisfied. The physical and emotional strain of a critical illness can be severe and when you combine that with the potentially damaging financial impact, the result can be devastating.
That’s where the critical illness benefit comes in—you are free to spend the money as you wish—such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It can help you where you need it most so you can focus all your energy on recovering.
A critical illness can happen to anyone:
It is estimated there are over 70,000 heart attacks in Canada each year.
There are between 40,000 and 50,000 strokes in Canada each year.
An estimated 3,075 Canadians will be diagnosed with cancer every week.