You are Your Most Important Asset

The financial burdens one experiences as a result of a critical illness could be devastating. The impact can range from loss of income, medical bills not covered by plans or treatments, and even modifications to your home. All these challenges can put a halt to retirement plans. When faced with this situation, people tend to withdraw or close out their savings accounts, max out their credit cards, re-mortgage their homes, or take out loans to support their family. However, doing so delays retirement, changes your retirement dreams, or even worse, forces you to sell your property. Critical illness insurance provides a ‘tax-free’ lump sum of money when you need it most, allowing you to pay off bills, protect your savings and focus on your recovery.

Critical illness is much more than a one-time ‘tax-free’ lump sum payout. There are features and benefits built into the plans that can give you even more peace of mind. One such feature is the ‘Best Doctors,’ which provides access to confidential services and medical information that can help you make informed health care decisions. Such services include a second opinion from a top international specialist, providing the locations of top specialists in your area, and access to articles specifically tailor to your condition.

Critical illness insurance is available for both adults and children. Plans can cover up to 26 conditions, including cancer, heart attack, stroke, blindness, loss of limbs, Multiple Sclerosis, burns, Parkinson’s disease and even Dementia including Alzheimer’s.  The coverage for children covers 5 additional conditions, such as cerebral palsy, cystic fibrosis, and type 1 diabetes. Critical illness coverage can take effect from 60 days after birth till age 25, at which time you can convert the child policy to an adult policy without completing a medical questionnaire. If you are never diagnosed with a critical illness, what happens with the coverage? A feature you can add is a return of premium at death and expiry. With this feature, all of your premiums are paid back if you do not make a claim or pass away. This is a win-win!

Having this protection is a key component of any financial plan. Knowing that you and your loved ones are protected financially can bring you great peace of mind. Call or email us today to learn more.

Aaron Buchner

Financial Advisor