Critical Illness Insurance
The Situation
Your greatest financial asset is your home and the mortgage payments are the largest expense. You currently have life insurance in place to pay off the mortgage in the event of death. You are surprised to learn that Canadians have a greater chance of having at least one occurrence of heart attack, stroke or being diagnosed with cancer than dying before the age of 75*. You realize you may not be able to survive the financial consequences if you were to suffer a critical illness such as a heart attack, stroke or cancer. You could lose your home in the event of a critical illness.
The Strategy
Purchasing a Critical Illness Insurance policy provides a lump-sum benefit which usually becomes payable 30 days after the diagnosis of one of the covered conditions. It is money that could help protect your lifestyle and home.
* Source: 1999/2000 Hospital Morbidity; Canadian Cancer Society 2001; Statistics Canada, Life Tables 1995-1997
Contact Us and find out more about Critical Illness Insurance and What The Banks Don’t Want You To Know About Critical Illness Mortgage Protection
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