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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.

Insurance products and services are offered by Michael Farrell,
an Independent Insurance Representative

Call 905-331-8458