The answer is, most of us.
It’s not fun to think about how your life might change if you were diagnosed with a critical illness. Or even, if your partner or child was diagnosed with a critical illness. But it’s realistic and responsible to be prepared when you have people depending on you. You likely know at least one person in your immediate or extended family or circle of friends who’s had cancer, a heart attack or stroke, don’t you? It makes you think.
Health risks are real and random, no matter who you are. Every four minutes a Canadian is diagnosed with cancer and more than 400,000 Canadians are currently living with the long-term effects of a stroke.
Your most important asset isn’t your home or your car or any of the other things you may buy insurance for (extended warranty on your cell phone anyone??). Your most important asset is you and your ability to earn an income. Are you protecting that?
If you have family, loved ones, or a home or business to take care of, you should take a look at the benefits critical illness insurance can offer.
- Pay all of your bills and maintain your standard of living?
- Keep your long-term financial goals and plans in tact - your retirement, saving for a child's education, paying your mortgage or saving for a house?
- Ensure your loved ones are taken care of no matter what the future holds?
- Have options for youself or the people you care about, allowing time and financial help to make decisions that are right for you?
- Pay for medical costs not covered by the government or employee health plans?
- Be away from your business and keep things going?
- Provide one less thing to worry about during a difficult time?
With critical illness insurance, monthly or annual premiums can cover you if you get sick with a covered condition. You’ll receive a lump-sum payment that can help you pay for your bills and any other expenses that arise.
If someone showed up and said, “Here’s some cash, use it however you want to get through this,” how great would that be? That’s what critical illness insurance can do in a time of need. It can help take some of the worry away so you can concentrate on other things, like getting better, or your family. That’s powerful.
Talk to an expert
Not feeling confident in your finances? You can talk to one of our financial security advisors who will work with you to craft a financial plan tailored to your needs.