The TK Advisor -TK Financial Group Ottawa Blog about Life Insurance, Critical Illness Insurance, Wealth Management and Estate Planning

Critical Illness Insurance is worth more then gold !

I have been in business for 31 years and settled life claims , disability claims as well as critical illness claims . Today I have delivered to a client a cheque for 500 k on a critical illness policy that was in place for 3 years . Between ages 30 and 65 there is a 1 in 4 chance of payout on a critical illness claim and in a lifetime a 80 percent chance of payout . Unfortunately only about 22 percent of people in the insurance industry provide this product to their clients and maybe 3 percent choose to be experts . Critical illness insurance is not a lottery but it is a source of stress relief from financial needs . Best doctors is also included for my clients in all our policies which gives them a valuable second opinion at time of potential medical procedure or claim . We have chosen to support 5 main line insurers because all policies are not the same and getting a policy issued can be sometimes tricky . Call us if you want to learn more and protect your financial well being !

Critical IIllness Insurance is a Living Benefit

Critical Illness insurance could be the best coverage you  ever get for you , your family and your business . We have delivered cheques to individuals who have survived prostate cancer , breast cancer and heart attack to name a few . Many people have a misconception created by some in the industry and outside that coverage is expensive as well as difficult to qualify for . Yes you have to have a good health history but that is no different from someone asking for fire insurance on a already burning building . You can chose a policy design that meets your budget . You do not need to be disabled or not be able to work to qualify for a benefit to me payable to you . You may survive a critical illness but will you survive the financial set back ?

Critical Illness Insurance ! Not just another product so stop and look at it .

You may have heard about this product but have you looked at what it can do for you ? So you say you can not afford it . Really . The accurate statement may be that you can not afford not to have it . In order to get this product you have to be in good health . The product pays if you contract any of the 22 conditions where heart attack , cancer and stroke are most common conditions where payout occurs . How do you get paid ? 30 days survival after being diagnosed and or a occurrence of a event . There is a 90 day moratorium on payout for cancer only after date of your policy has been placed with the insurer . This policy is valuable while you are building your wealth and throughout retirement . Policy should be designed to meet your specific needs and to meet your budget . You need to examine contracts carefully and chose the ones whose contractual definitions meet your needs . We represent over 10 leading insurers and we have chosen the ones we feel provide exceptional value with reasonable premiums . Often , if we feel there will be challenges posed due to clients health status we will present the file to over 3 insurers and surprisingly we sometimes get three different offers on same client !

Cancer , Heart Attack , Stroke , Loss of Independence etc.

Statistics tell us that incidence of critical illness conditions is on the rise and for the large part people are not seeking professional insurance adviceto protect their financial well being . I was at a fund raiser last night for Cancer center and the Ottawa Hospital Foundation and next week for Ottawa Heart Institute . It is clear that with aging population there is a huge need for facilities to provide funding for treatment centers . With sufficient financial backing you will not have to endure long waiting periods to see a specialist and Critical Illness Insurance will provide you cash when you need it most !

How would you survive a critical illness ?

What would you do if after you went to the emergency department complaining of indigestion and they told you you have to go to the Heart Institute because you are having a heart attack ? You have survived but can not go back to work at the same level you did before . Financial and emotional stress created by a critical illness and yet so few people are prepared . Yeah I know , your family history is good and a critical illness will never knock you down to your knees .

Surviving a Critical Illness , are you prepared ?

People shy away from insurance because it reminds them how vulnerable they are and they just do not want to think about the consequences . Last year was a memorable year for me as having a heart attack changed my life forever . I am on medication for the rest of my life . My income suffered as I was not able to have 6 appointments on some days and function at night . Memory loss due to medication is very real and FRUSTRATING . I am back at work and have re designed my activities thanks to my business consultant Ken Andrews and my staff . My memory is much better . I train now a minimum of 4 times a week with no restrictions . Due to my past medical condition I was only able to get 30 k of Critical Illness insurance through our group plan which did not require a medical . Today , we are able to provide up to 150 k of Critical Illness insurance even to people with pre existing conditions. Look at your own situation !