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CRITICAL ILLNESS INSURANCE

What is critical illness insurance?

Critical illness insurance coverage is a relative newcomer to the insurance industry and one of the fastest growing segments in the market.

It recognizes that, due to advances in medical care, people are surviving illnesses for a longer period of time, but it is a strain on their finances.

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STATISTICS FROM THE CANADIAN CANCER SOCIETY AND HEART & STROKE FOUNDATION SHOW:

50,000 Canadians suffer a stroke annually

  • Approximately 2,630 Canadians are diagnosed with Cancer weekly
  • 1 in 2 men develop a heart disease in their lifetime
  • 1 in 3 women develop a heart disease in their lifetime

Cancer, heart attacks and strokes are all much more survivable today than they were 10 years ago.

Why do I need cash after a critical illness?

To seek alternative medical care not covered by private or government health care plans

  • To cover the cost of treatment outside of Canada
  • To look after home-altering expenses (e.g.: wheelchair ramp)
  • To replace loss of income of the critical illness survivor
  • To repay an existing debt, such as a mortgage

Chances are that you will recover from a critical illness, but your finances may not.

Which critical illnesses are covered?

  • Alzheimer's disease
  • Angioplasty
  • Aortic surgery
  • Benign brain tumour
  • Blindness
  • Cancer
  • Coma
  • Coronary artery bypass surgery
  • Deafness
  • Ductal breast cancer
  • Early prostate cancer
  • Heart attack
  • Heart valve replacement
  • Heart transplant
  • Loss of independent existence
  • Loss of limbs
  • Loss of speech
  • Major organ transplant
  • Motor neuron disease (ALS)
  • Multiple sclerosis
  • Occupational HIV infection
  • Paralysis
  • Parkinson's disease
  • Renal failure
  • Severe burns
  • Stroke
  • Superficial malignant melanoma

All the above conditions are not covered by a single company. This is where I can guide you to make an appropriate choice.

How does the policy work?

A critical illness policy pays a lump-sum, tax-free benefit on the 30 th day of diagnosis of the covered illness.

Why should I have a critical illness policy if I have a disability insurance policy?

Disability insurance provides the insured with monthly payments to replace a portion of his income.

Critical illness insurance provides a one-time, lump sum, cash payment designed to meet uncovered expenses and to help you maintain your quality of life after a critical illness.

Why should I buy a critical illness policy today?

You should buy a critical illness policy today because:

  • A critical illness could occur unexpectedly at any time
  • The earlier you start, the lower your premium

What do I do to get a critical illness policy to suit my needs?

Contact me anytime.

Dinoo Pavri, C.L.U., Ch.F.C., C.F.P.
Phone: (416) 482-4040
Fax: (416) 492-6255

Email: dinoopavri@hotmail.com