Have you thought about what would happen if you were to suddenly become seriously ill? Do you have a plan for time away from work, lost income, and the need for medical care? Here’s your guide to critical illness insurance and how it can offer you protection in times of illness.

On a good day, we go about our regular activities without giving it much thought. However, becoming so ill that you are unable to care for yourself and your family can happen without warning or time to plan. It places a major financial strain on your household and many are unprepared for the expense of major illness.

Your health and ability to earn an income is a given until it isn’t. Due to advances in diagnosis and treatment options, people in Canada are recovering from illnesses that were life-threatening in the past.

Critical Illness Insurance is a means to provide for yourself and your family in the event of a major health concern. It bridges the gap income while you heal and it can:

  • Pay your mortgage and other bills
  • Allow you to focus on your recovery instead of your finances
  • Prevent you from becoming bankrupt during a long illness
  • Provide your family with the financial protection they need and deserve

Would you like to talk to someone about adding Critical Illness to your insurance? Contact us today and we will help you determine your best options for coverage!



What is Critical Illness Coverage?

1. Critical Illness Insurance can be added to your MLI and pays when you are ill to help support you and your family during a stressful time. It does not pay if you pass away. Life Insurance pays after you pass away to support your family after you are gone.

2. 20/20 Critical Illness Policy is a lump sum payment of $300,000 paid when you are diagnosed with a specific critical illness that is covered by your policy. This might include:

  • Heart attack
  • Acute stroke
  • Major organ transplant
  • Life-threatening cancer
  • HIV infection
  • Kidney failure


3. Whether you require financial assistance to cover your mortgage payments or other debts, or to purchase special equipment for your recovery, Critical Illness Coverage can be used in any way you see fit and can help:

  • Cover your lost income while you are ill and undergoing treatment
  • Cover the lost income of a spouse who stays home to care for you
  • Pay for in-home nursing care if required
  • Pay for expensive treatments not covered in Canada
  • Cover the cost of travel for treatment including flights, gas, parking fees and food
  • Lodging for yourself or family when you must be away from home
  • Pay to have someone maintain your business
  • Cover the cost of necessary home alterations

Call Today

To find out more about our mortgage life insurance policies and critical illness coverage, call one of our licensed agents today at 1-844-974-2020 or fill in our online contact form.


Share this Post:

Related Posts