|
|
About Living Benefits/Critical Illness Insurance If you survived a critical illness or dread disease would your way of life survive too? An estimated 130,000 Canadians were diagnosed with cancer in 1997. 1 in 4 Canadians today are expected to contract some form of heart disease. 40,000 to 50,000 Canadians suffer a stroke each year and currently there are between 200,000 to 300,000 stroke survivors in Canada. Each day, an average of 8 Canadians learn their kidneys have failed and that their survival depends on dialysis treatment, or a kidney transplant. As the Canadian population ages, the rate at which Canadians require care for heart disease and stroke is expected to rise by as much as 35%. There are 35,000 men and women living in Canada today with spinal cord injuries. These statistics don't relate to strangers but to you, your family and friends, and the people you talk to every day. Advances in medical technology have resulted in decreases in death rates and have helped more people survive longer. While we are living longer, we are still getting ill. If you survived a critical illness would you have enough money to pay for:
Critical Illness coverage is offered by several Canadian Life Insurers. This is not life insurance. The benefit is only paid if you live. Issue is limited to individuals in good health between the ages of 18 and 65 for face amounts of between $25,000 and $1,000,000. Of the several companies offering this coverage, the qualification for benefit is that the insured must survive at least 30 days after diagnosis of the covered condition, however, some insurance companies have a longer waiting period for some illnesses. Qualification for benefit is not based on inability to work. Covered persons collect the full amount of coverage even if they make a full recovery. There is generally a full refund of premiums paid if a covered person dies and no benefit has been paid. The coverage is offered in different forms such as 10 year renewable or level coverage to a specific age. One insurance company offers this coverage in small amounts in the form of group insurance benefits for employees. Not all insurance companies cover the same illnesses. Following are generally the main illnesses covered:
Most insurance companies will tell you that if you have had any of the above illnesses, you are ineligible for critical illness coverage. If you fall into this category, ask me about guaranteed issue critical illness coverage. If you are a business owner, you may find value in critical illness coverage for the following reasons:
Get a Critical illness quote . 15310 Pacific Avenue White Rock, British Columbia, Canada V4B 1P9 Tel: (604) 535-2404 Toll Free Canada: 1-800-667-8818 Website: http://www.beaton-insurance.com E-mail: john@beaton-insurance.com All rights reserved. This web site designed & maintained by The Dogwood Mall  |
