Critical Illness Insurance In Maple Ridge & Pitt Meadows, BC
Critical illness insurance is a type of protection that provides you with a lump sum payment if you are diagnosed with a covered critical illness and survive a waiting period (which is usually 30 days). With the advancement of technology more people are surviving these conditions but are often unable to get back to their pre-condition ability.
What’s the difference between disability and critical illness insurance?
Unlike disability insurance (that pays out a percentage of income as a monthly benefit), critical illness insurance actually pays out the entire tax free lump sum immediately, giving you flexibility to use the money as best needed. That’s where the critical illness benefit comes in—you are free to spend the money as you wish—such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It helps you where you need it most so you can focus more of your energy on recovering.
IMPORTANT NOTE: We at Manion & Associates have seen the benefits of this coverage first hand when our partner Tom suffered a heart attack in 2007 and fortunately had this coverage in place.
Could A Critical Illness Really Happen To Me?
(not fun facts but definitely an eye opener):
- 80% of heart attack victims survive
- 2 in 5 Canadians will develop some form of heart disease during their life time
- Half of heart attack victims are under 65
- 153,000 new Cancer case in Canada in 2006
- 1 in 3 develop cancer in their life time
- There are 40,000-50,000 strokes each year in Canada
- One third of stroke victims are under 65
- 300,000 Canadians are living with the effects of stroke
- Approx. 75% of all Canadians that suffer a stroke will survive but will be left with some form of disability
Sources: Heart & Stroke Foundation (2006), Canadian Cancer Society, Canadian Cancer Statistics (2006), Veterans Affairs Canada (2006)
As an independent insurance brokerage Manion & Associates has contracts with all the top insurance carriers allowing us to shop the market to find the right critical illness insurance product for you at the best price.