Critical Illness

One in three Canadians will be diagnosed with a critical illness before the age of 75. How many people do you know who have suffered the tragedy of cancer and the effects on their loved ones? Was there a need for additional income?

Critical Illness Insurance provides a tax-free lump sum benefit payable to the insured upon diagnosis of a covered condition and survival of a waiting period that is usually 30 days.
 

What are the costs associated with a critical illness? Many health insurance plans provide caps on benefits and medical procedures for a critical illness. Consider the following benefits:

• Find the best health care available – anywhere
• Hire a nurse or caregiver to help you at home
• Make mortgage payments
• Subsidize your income
• Make sure your business survives!

Did you know that if you are a 45 year old and had to withdraw $50,000 from your RRSP you could lose $200,000-$300,000 of potential retirement earnings?

Click here to learn more. 

Contact us for a more comprehensive look at your Critical Insurance Needs. 

*** WealthStyles articles are provided courtesy of Manulife Investments.