Importance of Critical Illness and Disability Insurance
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- Importance of Critical Illness and Disability Insurance
Consider the following facts in Canada
Critical illness
- The Canadian Cancer Society data indicates that cancer is diagnosed every three minutes in Canada.
- The Heart and Stroke Foundation reminds us that in Canada strokes occur every 10 minutes
- Heart attacks occur every 8 minutes.
- When you add up just these three serious conditions, Canadians experience up to 312,000 instances of critical illness diagnoses annually.
- Critical Illness coverage helps our family to cope with what can often by significant and unexpected financial repercussions.
- For example, the lump-sum payment can help us in renovating our home, to make it more accessible or cover the costs of childcare that arise because of our condition.
Disability Insurance
Disability insurance generally covers, only lost employment income due to an accident or illness until we are ready to return to work.
Most cases, our employer will take care of Disability insurance because they hired our skills , not us.