What is Critical Illness insurance?
Our Critical Illness insurance is called Caring Options® and offers help paying costs associated with life-altering illnesses. If you become sick with an illness covered by your policy and survive the waiting period you receive a lump sum cash payment - you decide how to use it. It is not intended to replace your life insurance or other insurance coverage.
The Facts of Life
Unfortunately, Canadians have a high risk of contracting a critical illness during their lifetime.
- One of every two Canadian men -- and one of every three women -- will develop heart disease.
- Approximately 50,000 Canadians suffer a stroke each year.
- One of every three Canadians will contract cancer.
Caring Options® helps you cope with the financial challenges of surviving a serious illness.
What illnesses are covered?
We cover 19 different illnesses including the four major health risks, heart attack, stroke, cancer, and coronary artery bypass surgery:
|
Heart attack |
Coma |
|
Stroke |
Blindness |
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Cancer |
Deafness |
|
Coronary artery bypass surgery |
Loss of Speech |
|
Multiple Sclerosis |
Major Burns |
|
Alzheimer's disease |
Occupational HIV infection |
|
Parkinson's disease |
Motor neuron disease |
|
Major organ transplant |
Benign brain tumour |
|
Renal (kidney) failure |
Loss of Limbs |
|
Paralysis |
|
How can I use the Caring Options® payment?
It's up to you. There are no restrictions on how you can use the money. For example you could use it to:
- Pay off your mortgage or other debt
- Pay for day-to-day living expenses
- Hire someone to care for your children
- Hire a private nurse
- Buy additional medical treatment -- in another province or another country
- Modify your home
- Fund business needs, such as replacing a key employee
- Pay for your children's tuition
- Retire early
- Invest in your future
With coverage ranging from $10,000 to $1,000,000 and four types of policies/coverage available, there is an affordable plan for you.
We include Best Doctors®
With our Caring Options plan, you have the opportunity to use Best Doctors®, an independent authority of quality healthcare in the world, at no additional cost.
Ask your representative for more information on this unique benefit.