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TORONTO, ON, January 13, 2014 /24-7PressRelease/ -- Physicians understand the reality of critical illness. The following statistics are from their website https://www.oma.org/Benefits/Insurance/Pages/GroupCI.aspx
- 40% of Canadian women and 45% of men will develop cancer
- There are an estimated 70,000 heart attacks each year in Canada
- About 300,000 are living with the effects of stroke
Besides cancer, heart attacks and stoke, critical illness also covers you for Alzheimer's, kidney failure, Parkinson's and over 20 other critical illnesses.
You get paid a lump sum if you are diagnosed with a critical illness
A lump sum payment gives you the freedom and flexibility to use the funds as you see fit. For example, you can use the money for:
- Treatment out-of-country, including travel and expenses
- Experimental treatment
- Home modification and medical equipment
- Private nursing and/or personal support worker
- Replace spouse's reduced or lost income
- Pay off mortgage or other debts
- Convert cash payment to an annuity for ongoing income
Or any other purpose you see fit - you decide.
What are the odds of getting a critical illness?
You probably already know someone whose life has been affected by a critical illness. Each year, the chance of surviving a critical illness increases, and that's a blessing. But it makes it more important to make sure you're adequately protected financially.
What If You Have Disability Insurance at Work
- Disability Insurance pays you a monthly income
while you are 100% disabled
- Critical Illness Insurance pays you a lump sum cash
payment if you are diagnosed with a critical illness
Disability insurance is helpful, but it simply isn't enough. Given the high risk of suffering a Critical Illness and the likelihood of less than 100% recovery, you need better protection.
Option1 Mortgages & Financial Products has access to all the major insurers and we can tailor a critical insurance package which will pay you anywhere from $50,000 to $2 million if you are diagnosed with one of the more than 2 dozen covered critical illnesses.
Marianne Lalonde is a Mortgage Agent and the owner of Option1 Mortgages & Financial Products in Ontario, Canada. She's has been a licensed level II (independent) broker for 30 years.
Marianne enjoys working with and helping people find solutions to their financial goals. She can be reached at (800) 722-7172 or by using this 30 second form.
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