What expenses do you want to stop worrying about while you recover?
No one expects a Life Altering Illness… yet one can affect any of us, anytime. Often, it happens when we can least afford it. Critical Illness Insurance is a lifestyle protection product that gives you the time to recover without financial stress, the money to get the best possible medical care and the resources to protect your hard earned nest egg. It’s a personal financial security decision.
“You need this insurance not because you’re going to die,
but because you’re going to live”
Dr. Marius Barnard Brother to Heart Transplant Pioneer, Dr. Christian Barnard and Creator of Critical Illness Insurance.
So, if you were recovering from a serious illness that kept you away from your income and/or required you to change your life and lifestyle:
What expenses would you prefer not to pay out of savings or borrow to pay?
How long would you like to be insulated from that expense?
IMAGINE: Thirty days ago you were diagnosed with a not-so-common form of cancer. You are not working; the alternative treatment in the U.S. will cost $97,000; the mortgage payment is due again.
Then an insurance company hands you $250,000.
While your doctors say your chances of a cure are good, the weeks and months of treatment and recovery you’ll need can come at a high price. Not the surgery or the hospital stay. Not the radiation treatments. Not even the chemo (if they give it to you in the hospital). Those costs are generally covered by your provincial health insurance. But if your spouse has to take several months off work to look after you when you get home, or you’ve been prescribed expensive drugs that provincial health insurance doesn’t cover, or you need months of physiotherapy – you’re on your own.
Where will the money come from? You could raid your savings, run up your credit cards or even borrow against the value of your home – all of which have the potential to derail your plans for retirement. Or critical illness insurance coverage can help leave your retirement plans on track.
Will you suffer a critical illness?
You could. The Canadian Cancer Society says 40% of Canadian women and 45% of Canadian men will develop cancer during their lifetimes, and the Heart and Stroke Foundation estimates there are more than 70,000 heart attacks and 50,000 strokes in Canada each year.
There is good news, however. More Canadians than ever are surviving life-altering illnesses. Some more stats:
- There are close to 1 million cancer survivors in Canada today, according to the Princess Margaret Cancer Foundation.
- 80% of heart attack victims and 75% of stroke victims admitted to hospital survive, says the Heart and Stroke Foundation.
The odds are that you or someone in your family will experience a serious medical setback at some point – and survive. But while you’re dealing with your illness, your finances could be suffering, too. For example, research by the Canadian Breast Cancer Network found that 44% of Canadians surveyed with cancer depleted their savings and retirement funds to cover treatment costs and make up for lost income.
How does critical illness insurance work?
If you’re diagnosed with one of the conditions covered under your critical illness insurance policy, after the required waiting period you’ll receive a lump-sum, tax-free payment once your claim is approved. You can use that money for whatever you want.
Wise financial planning takes into consideration not only building your savings but also protecting it. I can help you to determine how critical illness insurance can support your overall financial plan.
Because Your Family Is Everything … I’m Norm Lang and for twenty-three years I have been helping breadwinners, business owners and professionals protect their families lifestyle from the ravages of “Financial Threats”.
Why not be confident, That you will have what you need financially when you need it most.
Let me help.
One Great Quote…
“The little difference is attitude – the big difference is whether it is positive or negative.”
John Kanary
Make it a GREAT DAY!
