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Blue Weath Linkedin Group | Financial Advisor | Barrie
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Email: dsmith@synergylife.ca

 

Phone: (705) 434-0562

 

Address: 30 Quarry Ridge Road, Barrie, Ontario L4M 7G1

CRITICAL ILLNESS HEALTH INSURANCE

We all want to protect the ones we love, which is why including critical illness insurance in your coverage is so important. Life is unexpected, and critical illness insurance will help relieve the financial burden of illness, so you can focus on your health and recovery.


Critical illness insurance provides you with a one-time payment, paid as a lump sum, if you are diagnosed with any of the following critical and life-threatening illnesses:


• Cancer
• Stroke
• Heart Attack


Your critical illness insurance policy should also provide you with coverage upon diagnosis of a secondary critical illness. These diagnoses can include but are not limited to:


• Alzheimer’s
• Kidney failure
• Deafness
• Coronary bypass surgery
• And more

What are the benefits of

critical illness insurance?

Living with a critical illness can quickly become expensive without coverage in place to protect you. With the right policy, you can have peace of mind knowing:


• You will be able to substitute/augment your income during your recovery
• You can afford travel expenses related to your illness and treatment
• You can pay for experimental treatments not covered by your health insurance


With your lump sum payment, you can use the money at your discretion, in whatever manner best suits your recovery.

What should I look for in a Critical Illness Insurance policy?

When comparing policies, it’s important to choose a policy that suits you. Each provider will have variations in their policy, so a careful review is vital in order to determine if it’s the right choice. When reviewing policies, look for the following stipulations:


• What is the waiting period on payment?

• What specific illnesses are covered, and what are the waiting periods for each one?

• What happens to the premiums if no claim is made under the policy?

• If you are diagnosed with more than 1 critical illness, how does the policy cover you?


Life is unexpected, so you want to be sure you are financially safeguarded if you fall ill with a serious illness. Your policy is highly dependent on your age, health, amount of coverage you’d like and more. Speak with Darryl Smith for more information and let him help you find the right policy for you!

With the right plan, you can retire within 10 years.