Critical Illness
Critical Illness Insurance was designed to provide financial assistance in the form of a lump sum, tax free payout to help you cope with the stress and difficulties associated with such an event. The benefit is paid on first diagnosis of one of a list of critical illnesses. Coverage can be issued from $25,000 up to $2,000,000. There are no stipulations on how the money is used. You can use it to:
- Pay off debts or mortgages
- Supplement income
- Pay for experimental medical treatments not offered in Canada
- Get quicker treatment outside of Canada
- Take an extended vacation to improve recovery
- Make alterations to your home that may be necessary because of your new condition
It covers all the following illnesses:
|
Cancer
Heart Attack Coronary Bypass Surgery Stroke Multiple Sclerosis Coronary Angioplasty Heart Valve Replacement Aorta Surgery Parkinson's Disease Alzheimer's Disease Motor Neuron Disease Benign Brain Tumour |
Coma
Blindness Deafness Kidney Failure Major Organ Transplant Major Organ Transplant Waiting List Paralysis Loss of Limbs Occupational HIV Injury Severe Burns Loss of Speech |
Some Statistics
- 1 in 3 Canadians will get cancer…1 in 9 females will get breast cancer…1 in 8 men will get prostate
- 75,000 Canadians have a heart attack each year…50% are under age 65
- 40,000 - 50,000 have a stroke each year…60% of those suffer a long-term disability
The good news is early detection is getting better and survival rates are increasing:
- 5 year survival rate for men with prostate cancer is 87% and for women with breast cancer is 82%
- 80% of heart attack victims survive