Critical Illness Insurance

Many Canadians are opting for critical injury insurance to bridge gaps in their health insurance coverage.

They are worried that some expensive drugs aren’t covered by medical plans and that with the insurance they will be also able to pay for additional expenses such as rehabilitation costs or a spouse having to leave work to provide care.

Critical illness insurance gives a lump sum for a diagnosis of the critical illnesses listed in the contract, things like cancer, coronary artery bypass surgery, heart attack, and stroke. Depending on the policy selected, up to two dozen other conditions may also be covered. The policy ends when the benefit is paid.

But if you buy the insurance, you really have to understand how it works or you could be in for a nasty shock when a claim is submitted says Glenn Cooke, a life insurance broker who runs Life Insurance Canada.com. The site has resources that help compare premiums, benefits, and contractual clauses.

Source:thestar.com

For any question regarding insurance, investment, for a no-obligation insurance quote, consultation & second opinion. Please feel free to reach out!

Swinder Jodhka

416-825-3091

Broker, SSJ Financial Services

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