Critical Illness Insurance
Critical Illness Insurance Quotes
What is Critical Illness Insurance?
1 in 3 Canadians will develop a life threatening cancer. Many drugs used in the treatment of cancer are considered “experimental” and are therefore NOT covered by provincial medical plans. The average age of people who go on claim for Critical Illness Insurance is 43 years old.
While healthy lifestyle choices can be your best defense against some health risks, a critical illness such as cancer, stroke or heart disease can strike anyone at any time. Consider the following:
One in two heart attack victims are under 65 years old
Each year, 50,000 Canadians suffer a stroke. Of all stroke victims, 75% will be left with a disability
Critical illness insurance provides you with a lump-sum payment after a critical illness is diagnosed.
This allows you to concentrate on recovery without worrying about any financial losses due to the illness.
Features
You obtain a tax-free lump-sum payment 30 days* after diagnosis of a critical illness. This payment may be used in any way you wish, without restriction.
Your premiums and protections are guaranteed, renewable every 10 or 20 years or level up to the age of 75 years or for your lifetime.
Flexible protection options ranging from $10,000 to $2 million.
Additional benefits are available.
Waiver of premium: a safeguard against losing your policy. If you have an accident and become disabled, you may no longer earn a high enough income to pay your insurance premiums. With the Waiver of Premium option selected, after 6 months of disability, the insurance company will waive all of your premiums so you do not lose your policy. They also refund the premiums you paid over the last 6 months.
Basic plans
cover heart attack, stroke, and cancer.
Comprehensive plans
cover heart attack, stroke, and cancer, as well as up to 18 other illnesses (See list of insurable illnesses in next tab.).
List of Insurance Illness
List of Insurable Illnesses:
- Heart Attack
- Stroke
- Cancer
- Coronary Artery Bypass surgery
- Paralysis
- Multiple Sclerosis
- Major Organ transplant
- Major organ failure on waiting list
- Loss of independence
- Late onset diabetes
- HIV Infection
- Deafness
- Parkinson’s Disease
- Alzheimer’s Disease
- Loss of speech
- Kidney failure
- Motor Neuron Disease (ALS)
- Blindness
- Severe burns
- Benign brain tumor
Smart Choice Insurance Inc. is an independent insurance brokerage company. All insurance products can be obtained at competitive rates at Smart Choice Insurance Inc.
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