Are you diagnosed with a severe medical condition? A Critical Illness plan gives you a tax-free benefit against dangerous diseases like cancer, stroke, or heart attack.
What is Critical Illness Insurance?
Are you diagnosed with a severe medical condition? A Critical Illness plan gives you a tax-free benefit against dangerous diseases like cancer, stroke, or heart attack. Your policy will define the requirements you are covered for. Contact the team at Canada Life for further details.
How does the policy work?
More than just a payout
This tax-free payment not only gives you financial support but also access to top-class medical treatments to aid your recovery, including emotional support from qualified individuals.
×
Call 1 844-542-4678 to speak to our advisors.
You can get access to the top 5% of specialists in their fields. They can:
Additional Support
You and your loved ones can get professional help to cope with the impact of your illness. They can provide:
Why do you require Critical Illness Insurance?
Call 1 844-542-4678 to speak to our advisors.
Depending on how critical your illness is, you may need to take some time off work. To determine how much policy coverage you need, let’s take a look at your income and expenses.
Let us take a look at your income first:
Let’s look at your current expenses:
Finally, keeping in mind, you may incur additional expenses like:
Those expenses mentioned above can estimate how much coverage you might need.
If you do not experience a severe illness as early as ten years, you can add a return-of-premium benefit to your Critical Illness plan. If you decide to get your money back, your policy will expire.
Is it vital to have Critical Illness or Disability Insurance?
Depending on your circumstance, you may need either Disability Insurance or critical insurance, but there are instances where you might need both these insurances to safeguard yourself.
Together, Critical Illness and Disability Insurance help minimize the impact of disability or a severe illness.
Critical Illness InsuranceDisability Insurance
Payment type?
One-time, tax-free payout
Monthly income replacement
When do you usually receive the payment?
Whe you are diagnosed with a condition that is covered
If you cannot work because of injury or illness
Is there a waiting period?
In someinstances, no waiting period
Usually, will have to wait
How long does your coverage last?
Coverage for life
Coverage ends at age 65
Coverage is ideal for?
A large amount that can be used for paying off your debt, medical expenses, and mortgage
It covers your monthly expenses
Call 1 844-542-4678 to speak to our advisors.
