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Critical Illness Insurance

Critical Illness insurance has become quite a popular insurance and it is still relatively new to the insurance industry. The growing demand for this insurance has been overwhelming because it is a form of protection that provides money while you are still alive. You are able to use the money to help pay for things like doctors expenses, drugs, and travel. Like many people, we often take our good health and physical condition for granted. However, a sudden critical illness can seriously jeopordize our quality of life, as well as that of our spouse, children and even our business partners.

Building and preserving oneís financial independence takes time and effort. Thatís why protecting yourself against a critical illness makes a lot of sense and should be an essential part of your financial planning. When diagnosed with a critical illness, it is often required that you leave your job during recovery stage. However, this is difficult and will result in a loss of income. Even though your working days stop, expenses and payments still come, especially medical expenses (medication, specialized equipment and treatments, modifications to the home, etc) will quickly add up during this time. The financial burden can be overwhelming, especially if you donít have any other source of income to provide for your needs and those of your family during your recovery.

When you own a Critical Illness insurance plan, you have the comfort in protection with:

  • Lump Sum cash benefit, TAX FREE, with no restriction of how to spend the money
  • The freedom to choose your medical treatment, care and recovery
  • The freedom to choose where to go for medical treatment
  • The freedom to go on vacation to help relieve stress
  • Financial independence through difficult times
  • Preserve your investments (i.e. house)

You can also add riders to your Critical Illness insurance to customize the plan for your needs. Insurance rider options can include:

  • Premium refund guaranteed at death
  • Premium refund guaranteed at age 65 to 75 from 75% to 100%
  • Coverage ranging from $10,000 to $2,000,000 for insureds between the age of 0 and 65
  • Protection up to age 75
  • Guaranteed premiums and coverage, renewable every 10 years or level to age 75
  • Child rider covertible at age 25

You can use your benefit however you wish. A Critical Illness plan minimizes the disruptions that you and your loved ones may encounter during this crucial period in your life and can be used in whichever way you wish with no restictions to:

  • Pay medical costs for specialized treatments abroad
  • Provide you with home nursing care
  • Make changes to your home to accomodate your medical condition
  • Reduce your financial obligations (pay down the mortgage or personal debts)
  • Enable your spouse to take a leave without pay to be by your side
  • Pay for a vacation to help relieve stress and accelerate recovery
  • Pay for childcare expenses
  • Fund a training program for a new career, etc.









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