• In the last 12 months, Who Do You Know, had a Cancer Diagnosis; Heart Attack; Stroke; Coronary Artery Bypass Surgery?

• Would $25,000 Lump Sum have Helped their Financial Situation?

• Ask me about Affordable CI $25,000 Coverage from $6  up per month!

 

Critical illness: Cancer, Heart Attack, Stroke, Heart Bypass Surgery

[ A fate that could be worse than Death ]

 

Critical Illness an innovative insurance protection plan, which pays out a lump-sum benefit when the insured survives a serious illness for 30 days from the diagnosis of a covered illness, such as Cancer, Heart Attack, Stroke, Coronary Artery Bypass Surgery and many more.[ example shown in the table below]. As an insured and owner of a CI Plan, if diagnosed with one of the covered conditions, you will receive a lump-sum payment to spend as you need to or choose to. 

 

A variety of plans are available in Canada, the most common being a 10 Year Term Renewable and Convertible to Age 75, Level Term to Age 75 and Level Term to Age 100. Critical Illness Plans can be basic covering the 4 most common critical conditions hilighted above and can be more comprehensive covering up to about 25 Insured illness conditions, including Loss of Independent Existence by some companies but not all. Regardless of the type of plan, CI Policy contracts generally provide you with access to a network of qualified Doctors and Specialists such as Best Doctors.

 

Covered Condiditions Generally Are:
Cancer* (Life-Threatening)	Heart Attack*	Stroke*
Coronary Artery Bypass	Alzheimer's Disease	Aortic Surgery
Aplastic Anaemia	Bacterial Meningitis	Benign Brain Tumor
Blindness	Coma	Deafness
Heart Valve Replacement	Kidney Failure	Loss of Independence
Loss of Limbs	Loss of Speech	Major Organ Transplant
Motor Neuron Disease	Multiple Sclerosis	Occupational HIV Infection
Paralysis	Parkinson's Disease	Severe Burns

            * A look at claims by illness: Cancer = 63% | Heart Attack = 17% | Stroke = 4%

            A look at claims by age:  51+ = 47% | 41-50 = 38% | 31-40 = 11% | up to 30 = 4%

Financial Support - Provides Money when You Need it Most!

 

One company I represent provides great flexibility in their Critical Illness Plan offerings. CI protection with a Base plan covering 4 major illnesses, a Plus plan covering 18 illnesses, and the Enhanced plan covering 22 illnesses. This company also offers three premium scales for each of their Base, Plus and Enhanced Plans, giving consumers an opportunity of lower premiums to put CI protection in place.

 

This typically would be a Ten-year Renewable and Convertible CI plan which can be renewed up to Age 75. More importantly, once you own the Ten Year Term CI plan, you can convert it without medical evidence to a longer term solution - Level Premium to Age 75 OR a Permanent solution - Level Premium to Age 100. Another company I represent has a Second Event Rider optional benefit which makes their plan unique in a very real and good way. Some plans have have an Early Discovery Benefit which pays 10% to a maximum of $25,000 usually for Early Stage Prostate Cancer, Ductal Breast Cancer and Coronary Angioplasty.

 

CI coverage is always available as stand-alone plan (policy) and in some instances can be added as a rider to a Term or Permanent Life insurance policy contract. At least one company that I am aware of, offers a child Critical Illness policy where coverage and premiums are on a per child basis. Multiple children coverage is also available but only as a rider added to a parent's policy. You may also purchase Return of Premium as an additional Benefit which will return a portion or all of your premiums: 1) when your policy matures; or 2) If you decide to surrender your Critical Illness policy prior to maturity without having made a claim. This benefit in some instances do not apply to permanent plans such as the Term to 100 or when coverage is attached as a rider to a Life Insurance policy.

 

There are subtle differences from one company to the next and you are advised to always determine benefits available and verify the benefits included in your plan. If you die without having made a claim on your Critical Illness Insurance policy, all premiums paid (but not exceeding the amount of the sum insured) will be returned to your beneficiary. This refund of premium on death is included in some companies base plan, whereas other companies require the addition of an optiomal benefit. Generally the return of premium does not apply when Critical illness protection is provided through the addition of a CI Rider to a Life or Other Insurance policy. You are always advised to consult with a Financial Advisor for clarification and to get specific details.

 

Your protection and ultimately your lump-sum payment can be from $25,000 to $2,000,000 and it's yours to use as you see fit. Here are some uses you might want to consider providing for:

 

• Pay Down Your Mortgage
• Replace Your Lost Income
• Service Loan Commitmens, Credit Cards, Mortgage, Lease ...
• Provide Cash for Your Child Care & Housekeeping Expenses

• Provide Cash for Expensive Drugs, Treatments in US / Abroad
• Provide Cash to Pay-off Your Business Line of Credit Balance
• Fund a Buy-Sell Agreement for Your Business
• Fund Key Person Coverage for Your Business
• Provide Cash for Necessary Home Care for You
• Fund Illness-Related Home Alterations or Renovations
• Do Something You've Always Wanted to Do

 

Bear in mind that this web site is geared to providing you with basic general information. Certain conditions may apply and there are subtle differences from one company to the next, so it would be very difficult to cover in detail all the products offered by all the insurance companies. It is always a good idea to contact a Financial Advisor to review your personal situation. The table below shows some sample premiums by age.

Some Monthly Premiums: $250,000 Critical Illness Protection 10 Yr Term to 75

 

Male Non-Smoker	Female  Non-Smoker	Age	Male Smoker	Female  Smoker
$64  to  $77	$60  to  $82	30	$81  to  $108	$78  to  $103
$81  to  $95	$75  to  $104	35	$104  to  $156	$99  to  $143
$106  to  $132	$99  to  $137	40	$182  to  241	$163  to $220
$153  to  $214	$135  to  $196	45	Request Quote	Request Quote

 

Affordable Option  - $100,000 Special 10 Year Term with $50,000 (50%) advance payment for a Critical illness Diagnosis. Covered illnesses are: Cancer, Heart Attack, Stroke, Coronary Artery Bypass, Alzheimer's Disease, Benign Brain Tumor, Blindness, Coma, Deafness, Dismemberment, Kidney Failure, Loss of Speech, Major Burns, Major Organ Failure Requiring Transplant, Motor Neuron Disease, Multiple Sclerosis, Occupational HIV Infection, Parkinson's Disease and Paralysis.  Healthy Female Non-Smoker Rates: Age 30 $25 / Month ( 0.81 cents / Day); Age 35 $29 / Month ($0.94 cents / Day); Age 40 $34 / Month ($1.10 / Day); Age 45 $44 / Month ($1.42 / Day). 

 

$0.81cents - $1.42/day to provide $50,000 CI Benefits + $50,000 Life Insurance is great value.

 

Get a FREE Personal Consultation.

 

Ask me about Guaranteed Issue CI Plan contact us