Category: Critical Illness Insurance

In the late 1990s Canadians were introduced to a new form of insurance to protect against the financial impact of a major health-changing event, such as a diagnosis of cancer, heart attack, or stroke.

Statistics showed that with advances in medical technology and many new medications available, patients were surviving conditions that once had low survival rates. However, the problem patients faced post-treatment was the financial damage caused during their long road to full recovery.

Doesn’t a traditional disability policy cover my loss of income?

There are a number of obstacles that could potentially de-rail a comfortable retirement. These include marriage breakdown, a stock market crash, and being sued. Another huge obstacle would be the diagnosis of a life threatening critical illness affecting you or your spouse. While it might be difficult to insulate yourself against some of the threats to retirement security, Critical Illness insurance goes a long way to mitigate the financial disaster that could result from a change in health as we approach retirement.