Critical illness insurance provides a lump sum non taxable cash benefit to the insured in the event of a diagnosis of a covered condition after satisfying a waiting period.
Statistics tell us that 1 in 3 Canadians will be diagnosed with a critical illness before age 75. Of those illnesses, Cancer, Coronary Bypass, Heart Attack and Stroke comprise that vast majority of cases. If this were to happen to you, your retirement plan could be destroyed.
If you are interested in reallocating a small portion of your investment to cover this risk and to have it refunded to you in the event a claim, then critical illness insurance may be an effective strategy for you. We can help by designing a cost effective solution to cover this risk and incorporate it into your overall financial plan.