Critical Illness Insurance / Income Protection for Canadian Residents
Have you ever wondered how to protect your financial well-being from a serious illness?
As unfortunate as this is, 1 in 3 Canadians will develop a life threatening cancer, while many drugs used in the treatment are considered “experimental” and are, therefore, not covered by provincial medical plans.
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.
- 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
- The average age of people who go on claim for Critical Illness Insurance is only 43 years old.
Despite rather depressing statistics, here are some good news! We would like you to know that we offer a comprehensive Critical Illness Insurance provided by one of the most reputable and well-known insurance companies in Canada – Manulife Financial!
- Be a resident of Canada
- Coverage enrollment is available to people under 65 years old
- Policy termination date is at 75th birthday
- Max Coverage for applicants 18-65: $25,000 / applicants 18-60: $50,000 / applicants 18-55: $75,000
Critical Illness Insurance Lifecheque Basic coverage is designed as an income protection tool to relieve you of a potential financial burden that may result from treating an unforeseen sickness or surgical procedure.
List of Insured Illnesses / Surgeries:
- Heart Attack
- Coronary Artery Bypass Surgery
- Aortic Surgery
If you want to be protected from financial burdens caused by a serious illness, Critical Illness insurance protection will be the cornerstone of your financial plan! Critical illness insurance provides you with a lump-sum payment just 30 days after a critical illness is diagnosed. This allows you to concentrate on recovery rather the financial aspect of treatment!
Choosing the right protection from covered critical illnesses does not require any medical tests and is entirely online. With Critical Illness Insurance plan you can concentrate on your recovery at an affordable rate of as low as $10 – $15 a month with an appealing option of returning 100 % of insurance premiums you have paid if you don’t get ill!
How to apply
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.
Know that your protection benefits are guaranteed up to the date of automatic insurance termination at the age of 75 years with an option of a full paid premium return! Premiums will increase for the first five years and you can also get the first month of coverage for free if you opt for the month-to-month payment basis!
Flexible protection options ranging from $25,000 to $75,000 dollars.
This plan fits every Canadian resident who would like to obtain specific medical treatments, or would like home nursing services to assist with their recovery or if you are a business owner / self-employed and need compensation for income lost.
Once the benefit has been paid to you, you can get the latest treatments and best services medical science has to offer and allow your partner to take time off during your recovery before returning to work. You can recover your financial footing after surviving a critical illness and spend time doing something you love! You can finance a private nursing care or begin an early retirement. You can also pay off the mortgage, pay for children’s education, hire domestic help or anything else you might want to do!
- One-time payment of insured amount 30 days after the first diagnosis of a covered illness or surgery
- No medical questionnaire and no family history is required
- Payable policy premiums are guaranteed not to change for 5 years
- 30-days coverage for FREE (with a monthly payment option)
- Full Premium Return Option (for applicants 18-55 at the time of initial application only)
Return of Premium Option: A safeguard against losing your policy and pouting the money down the drain! If you are lucky and do not have a serious illness at the time of your 75th birthday, you will get back every penny you have paid for your insurance policy in a single lump-sum payment! The only condition is to select the return of premium option at the time of initial application for a Critical Illness insurance.