Critical Illness Insurance
Facing a critical illness can be one of life’s most difficult challenges, with feelings of fear and uncertainty profoundly affecting your sense of being. As with any other illness, critical illness can occur at any time, whether you or your family are prepared for it or not.
While maintaining a healthy lifestyle can reduce your risk to certain conditions, the truth is, this does not provide a safeguard against critical illness.
If you are diagnosed with a critical illness, you may be faced with expenses that are currently uncovered by Quebec’s national health plan, or that have limited coverage through your employer-supplied group insurance. Meeting financial obligations during this time can be overwhelming and stressful.
The key benefit of Critical Illness Insurance is that it provides a lump sum benefit after diagnosis, allowing you to meet your day-to-day needs and focus on more important things such as managing your health.
Critical Illness Insurance enables you to prioritize the financial costs associated with overcoming your illness. Whether it’s modifying your home to facilitate movement or hiring a private nurse, it’s up to you decide where your money is needed most.
Critical Illness Insurance can be used to:
- Pay for the cost of treatment, private aids or special equipment
- Reduce debts
- Replace any lost income due to the inability to return to work
- Fund a change in lifestyle
With Critical Illness Insurance, you can protect your investments from loss of income, or the costs associated with rehabilitation or treatment.
Why Stand-Up Advisor?
Stand-Up Advisor simplifies the process by helping you gain a better understanding of available Critical Illness Insurance products. We will explain the fine print, bringing any policy exclusion clauses to your attention, so that you can make an informed decision when presented with product options.
Independently owned, Stand-Up Advisor is not bound by exclusivity contracts that limit access to products offered by specific insurance companies. This allows us to do two things: 1) Gain access to all available products 2) Compare and offer the most competitive rates based on our client’s needs. At Stand-Up Advisor, our first priority is to provide you with all the necessary information about the product(s) you are considering purchasing. By asking the right kinds of questions, and comparing insurance products, you can ensure you purchase the policy that’s right for you. We can guide you through the process. Give us a call to set up a consultation today.
At Stand-Up Advisor we:
- Ensure you know to what extent you are covered
- Practice full disclosure
- Provide an unbiased approach to consulting
- Compare quotes and offer the most competitive rates
- Have access to all available products
Disability Insurance and Critical Illness Insurance
While both Disability and Critical Illness Insurance provide a source of income when you are unable to work due to health problems, it is important to note that they are quite different. Critical Illness Insurance provides a lump sum and covers a handful of specified illnesses (these vary depending on the product), while Disability Insurance covers a vast array of conditions and illnesses and provides a monthly (or annual) income after a specified waiting period.
Key highlights of Critical Illness Insurance:
- Lump sum
- Complements government and employer group insurance benefits
- Provides great flexibility for prioritizing your expenses
To learn more about Disability and Critical Illness Insurance, contact Stand-Up Advisor today for a complete assessment.