604 628 1794

Critical Illness Insurance

A Critical Illness Insurance plan is insurance protection that guarantees the payment of a tax-free lump-sum benefit when a critical illness is diagnosed. Although certain illness-related expenses may be covered by provincial and/or private health plans, these programmes do not cover many medical costs.Unlike other forms of insurance, Critical Illness Insurance can provide a lump sum payment and allows people to use the funds in many ways, such as: 

Enabling your spouse to take a leave of absence without pay 
Allowing you to hire a caregiver 
Helping you pay for specialized medical treatments 
Helping you towards paying for the best possible care 
Helping you reduce family obligations, helping towards your mortgage payments Helping to pay for child care 
Funding a trip to assist recovery.

Plans that are commonly available
10-year term protection (renewable and convertible) 
20-year term protection (renewable and convertible)
Term protectio to age 65 
Term protection to age 75 
Term protection to age 100

Many plans come with a return of premium option that acts as a forced savings policy. If you do not claim on the policy you will receive a portion or all of your premiums back.