How it Works
Critical Illness coverage provides a monetary payment if you get knocked off your feet by cancer, stroke, heart attack, etc. In addition to the possibility of a leave of absence from your job, a critical illness can sometimes leave you with recovery costs. When you set up your policy, you choose the amount of coverage you want, as not everyone’s recovery costs and expenses are the same.
Why You Need it
It’s more common than you think, a serious life-altering illness affects one in three Canadians in their lifespan. The additional payments can help cover daily expenses and safeguard your retirement savings. With the monthly payment, you won’t need to dip into those RRSP or other investments.
How Much do You Need
Look at your income; how much might you lose if you need to take a prolonged time off work? Examine your current expenses and what additional expenses might be incurred. This can be your mortgage payment, groceries, credit card payment or addition of child care.
Connect with an advisor and start a free no-obligation consultation or quote today!