Critical Illness Insurance

Why have most Canadians overlooked this product which has been designed to meet the needs of : corporations and individuals ?

Critical Illness insurance in my estimation is the best product that I have seen in my 26 years of serving the insurance needs of corporate as well as professional clients ? Why ? It provides cash to those that need it the most . When ? After the insured survives a listed condition for 30 days  ,the policy pays out a lump sum of cash to the corporation or the insured individual.

With average waiting period to see a specialist in Ontario being over 16 weeks , it is easy to see the need for this product that provides cash to take you for treatment anywhere in the world . The payout can be used for whatever the recipient wants and it should   be customized to meet the specific need .

There are tax advantages that can be obtained in the corporate setting with this product and an experienced insurance adviser can explain the structure which must be followed to you .

All policies are not the same so be certain your adviser is a broker who is able to demonstrate different  policy designs as well contractual obligations under various insurers .

Critical Illness insurers protects your wealth and provides you with options if you are stricken with one of the condition that is covered under the contract . Three main payouts under this policy are for : heart attack , stroke and cancer . The payout that is most seen at claim time for men is heart attack and cancer . The policies pay out mostly for cancer and MS for females .

This year we delivered a $ 500,000 cheque to a client that has survived a critical illness and is now back to work . This product is not the same as the disability product which pays you if you are unable to work .

This is a excellent product that I feel is designed to be of exceptional value not only for individuals but also corporations .