Critical Illness Insurance


What is a Critical Illness Insurance

Critical illness insurance is a coverage that protects you in the event of a critical illness, 3 major one’s off the top of my head are life threatening cancer, heart attack or stroke. For those of you who have heard the terminology thrown around but never bothered to look into it further. As an experienced insurance advisor in Toronto for the last 8 years, now would be the time. With the average age of getting a critical illness being that of 40 years old, even shocking to me who is 36 years old. I think its time we all understood the definition of critical illness and what it means in terms of insurance protection. Critical illness has never been a topic not on my mind since both my parents contracted critical illness’s before the age of 55. If you have one of these critical illness on top of 21 others and survive the illness for 30 Days, the lump sum you agreed upon in the policy is paid out. There is no limitation as to what you can use the pay for, some ways to use this money come to mind. Medical Bills, Oversea Surgery, Extra Help or Care Giving, Personal Chef or Assistant, or a new car. Yes I threw in the new car to illustrate the fact that you can buy anything you want.

What happens if I die before the 30 Days

You can can purchase an option called return of premium on death and depending on your company of choice your family will get a payout which is either all the premiums you paid into the policy so far or for example Desjardins Insurance actually gives you a large sum back.

What happens is the policy expires

If the policy expires and you never had a critical illness, if you purchased the return of premium on expiry you will get all your premiums returned to you. in the above video you will get a quick summary of the above points.

Jack Bendahan 905-761-9986 discusses how Critical Illness is a growing reality in today’s day and time. People are getting sicker and sicker. The statistics for an individual getting a Critical Illness in there lifetime are becoming increasingly overwhelming. We learn how Critical Illness Insurance works, and why and how it can benefit your family. It pays out a lump sum that can be used for many different things. Its a hand and hand product that compliments disability insrance nicely. Watch Jack the Lifeman discuss the product of Critical Illness in a very clear and easy to understand way. Determine if you think the product is worthwhile and call Jack Bendahan for all your life and critical illness insurance quotes provided from various companies like Empire Life, RBC Insurance and BMO Insurance. The Lifeman knowing a tonne about the product will recommend the perks you get going with one company over some others.