Critical Illness Insurance
Critical Illness Insurance protects your lifestyle as you recover from serious illness or health risks such as cancer, heart disease, or stroke. Expenses such as private nursing or modifications to your home or a vehicle to improve your mobility are some of the benefits of Critical Illness coverage.
This coverage is unique to individual critical illness plans, as it is not available under provincial health plans nor most employer benefit plans. Critical illness insurance is designed to help financially support you before, during and after treatment by providing a lump-sum benefit when a critical illness is diagnosed.
Did you know?
- One in four Canadians has some form of heart disease
- 75,000 Canadians suffer heart attacks each year
- More than 134,000 cases of cancer are diagnosed every year in Canada
- 50,000 Canadians suffer a stroke each year
(Source: Heart & Stroke Foundation, Canadian Cancer)
Surviving a critical illness is greatly improved due to medical advancements. We must consider the overwhelming medical & financial impact recovery from a critical illness can have on you and your family.
We each have our own unique needs we want to protect. The funds provided from a critical illness insurance policy can help you in many ways. Some people cannot see the ways they would benefit from such an insurance plan, so here are a few scenarios where the benefits of Critical Illness Insurance can definitely be seen.
Are you a business owner or self employed? Critical Illness Insurance can help protect you and your business if you were to become critically ill, plans are designed to provide an income supplement during these times and some plans cover business expenses to keep your business open and operational (offering payment of utilities, rent, salaries and more). Payouts can also be used toward buyout insurance or key person insurance.
Stay-at-home parents will benefit from the financial help to supplement your family income so your spouse can stay at home with you during recovery or assist in funding child care support as you are not in a position to care for your children.
Full-time employees have used the Critical Illness Insurance coverage for their mortgage, as money to fund alternative or out-of-country medical treatment options, as well as contribute to maintaining family activities and routines. This provides minimal disruption to your life as you recover and receive care so you can return to a productive life.
Part-time or seasonal worker have seen the benefit as income supplement, additional funds for medical treatment expenses over and above other coverage limits or in the case where no health insurance policy is available. Part time and seasonal workers may not have other insurance benefits available to them so it is important for them to know how to protect themselves for the unexpected.
University student or recent graduate surviving a critical illness may have left you out of work and unable to reduce your student debt. Critical Illness Insurance coverage can be used the pay down that student debt.
These are all important considerations that need to be discussed with an expert risk management advisor. That is where we at Hubbard Insurance Group come in. We build a relationship with you to learn your needs, wants and goals so we can work with you in protecting the areas of your life and lifestyle. We make the best recommendation and find the best coverage, policy, provider and price for you giving you peace of mind.
Contact one of our Benefits Specialists today and let’s get working with you! Email us at better@hubbardinsurance.com or call 905.696.9090 where you’ll be “Well Advised. Well ProtectedTM.”
Alternatively fill out the Get a Quote form and we will contact you as soon as possible.
Other Insurance Coverage to Consider
Health & Dental Insurance
Significant unexpected healthcare and dental care expenses can be covered relieving the burden from you and your family.
Call Toll Free 1-800-900-2009