This is often one of the most over-looked areas of one’s Financial Plan. You need to Fully Understand these options. By NOT protecting your number One Asset – "YOUR ability to Earn Income"; this can create devastating effects to your long-term financial health if you have a prolonged injury, disability or sickness.
Critical Illness: TAX FREE CASH in a HEALTH CRISIS! One in three Canadians will be diagnosed with Cancer at some point in their life. (Age does not seem to matter!). What is the cost of your emotional well being, your family and your financial picture if you were inflicted with a serious critical illness and needed long term treatment and care to recover?
Solution: Critical Illness pays cash within 30 days in most cases (providing you survive) with coverage ranging from $25,000 to 2 million and you can use it for whatever you want! Full Critical Illness covers 22 conditions, Cancer, Coronary Bypass, Heart Attack, Stroke, Blindness, Coma, Kidney Failure to name a few. Basic Critical Illness is also available which only covers the 5 most common conditions, Cancer, Heart Attacks and Heart related problems & Stroke. $25,000 Coverage only and very affordable.
Please contact me to identify the coverage that best meets your needs and your options.
Disability Insurance: The fact is that disability strikes working people far more often than premature death. A 20 year old man is about three times more likely to be disabled for at least 90 days than he is to die before the age of 65!
Source "Disability Insurance: Where will the money come from if you're disabled?" Canada Life and Health Insurance Association.
Are you adequately insured if you were disabled? The vast majority of Canadians are NOT! The number one reason people lose their homes is long-term disability and they are often short less than $1,000 per month... What a tragedy!
Please contact me to identify your need and the options that are available to you.
Long Term Care:
FACTS: 95% of Canadians will live in their own home until death, but by the age 70 50% will need some form of medical and home care assistance to make this a reality. So what are the costs? Typically at least $100 per day or $3,000 per month to bring in a daily home care worker! If you need to go into care or assisted living arrangements you are looking at $3,500 (very modest) to over $10,000 per month in a luxury setting. The average Canadian makes less than $3,000 a month income in their retirement. I guess our kids will be supporting us and sending us a couple of thousand a month to subsidize us... NOT LIKELY!!
Solution: Long Term Care Insurance: Issue age 18 to 80. Level Premium payable for life up in 20 years and covers you for the rest of your life. TAX FREE benefit from $1,000 to $8,500 per month income. 10% premium reduction if both spouses purchase at the same time. Cost of Living Adjustment Rider available. You do not need to be elderly or in a seniors home to claim the benefit! If you were in an accident at age 40 and could not perform 2 of the 6 Daily Living Activities (feed, cloth, get out of bed, toilet, bath or consentience issues) for more than 30 days you could qualify for the benefit. Call me or email me for a FREE Brochure or a Quote. It is necessary you are HEALTHY to obtain any insurance products.. So DON'T wait until it is too late to qualify!