What's your Critical Illness Recovery Plan?

Cancer, Heart Attack, Stroke; becoming critically ill is something none of us want to think about; but we all know people whose lives have been dramatically affected.

Recently, a number of my clients have been asking questions about Critical Illness or CI Insurance.  I think a lot of people are unclear on the benefits of this type of insurance and how it works.  This week I’d like you give you a quick overview of CI insurance and highlight some great features that you might not be aware of.

Critical illness insurance pays policy holders a lump sum (tax free) payment should they be diagnosed with a critical illness, to spend however they wish.  You can choose to be covered for the five most common illnesses; cancer, heart attack, stroke, coronary artery bypass surgery and aortic surgery; or choose full coverage which includes up to 22 different conditions.  The money can pay for non-covered medical expenses, keep a business running, or perhaps afford to have a spouse take time away from work to help during the recovery period.   The policy is designed to eliminate financial stress during a very stressful time.

Beyond the lump sum payment insurers have added other benefits into critical illness plans that policyholders have found helpful, for example:

·         Best Doctors - a service that provides access to the best medical care by connecting you to world renowned specialists to confirm the right diagnosis and right treatment plan option without you having to leave home.

·         Daily Living Assistance – If you’re having trouble managing day-to-day activities, in one simple phone call, you can get information on the local services available to you.  These services can help you manage daily activities that can become challenging during an illness.

·         Healing the Whole Person – This program provides emotional support for you and your family and helps deal with the feelings often associated with a critical illness

·         Return of Premium – an option whereby if you stay healthy and never make a claim; the insurance provider will return all of your premiums.

If you have any questions on this type of insurance or would like to review your current coverage; please do not hesitate to contact me.

Yours in good health,

Tracey 

Please note: Insurance is not a business of Security Financial Services but is placed through an AGA, Capital Insurance Services via Hub Financial.