Individuals needs life insurance for the following reason
Pay off Debts
Pay off mortgage
Pay off Car Loan
Pay estate taxes (Capital Gain Taxes)
Health Insurance :
Critical Illness Insurance provides financial protection, helping you to stay focused on getting well
The list of illnesses that we may face over our lifetime can be extensive, however statistics indicate that over 90% of critical illnesses come down to two. Cancer (Approximately 1 in 2 Canadians will be diagnosed with cancer in their lifetime) and Cardiac related (About 1 in 12 Canadians is living with diagnosed heart disease ). By our mid-forties the likelihood to be diagnosed with either of these sharply increases 3. While these facts may be sombre, it is heartening to know that today’s medical advances are rapidly raising life expectancies. However, what if you were facing a critical illness such as cancer, a heart attack or stroke, would you and your loved ones be financially protected? Dealing with a Critical Illness is difficult enough.
With a Critical Illness policy you receive a lump-sum payment that can be used to cover many costs — including medical care, travel expenses or wages of a family member leaving work to help. Like Life Insurance, Critical Illness Insurance can be an important element in your financial plan. By paying you cash benefits when you are diagnosed with a specified covered illness, this can help alleviate some of the stress that you are already facing.
Taking a look at the relationship between your life’s stages and life insurance needs.
Single: Few responsibilities need health insurance
Married Settle down: Buy a house, Have children .Post-secondary education, Dependents to support need protection. Needs life insurance and health insurance.
Post-secondary education ends Mortgage is paid
Children are independent
Retirement income for spouse
Leaving a legacy
What type of life insurance coverage comes to mind to protect your needs?
Get a quote online or Book an appointment by calling 647-861-9427.