Critical illness insurance is a sort of health insurance that helps alleviate the financial burden of significant illnesses by paying you a lump amount if you are terminally ill.
This insurance will allow you to secure your financial investment in retirement and your income, thereby reducing the financial stress of being sick and unable to work.
What Is Critical Illness Insurance Work?
The Critical Illness Insurance policy lists the various critical illnesses eligible for coverage. In the event of diagnosis, the policy provides a lump-sum tax-free payment that gets given out to get used in any way the person receiving the money feels appropriate. This money gets used to cover medical costs and household expenses, assisting in making up for lost income.
Although our provincial health insurance plans cover most medical expenses, how about traveling? Parking? Food and lodging, and the loss of income due to inability to work, or a family member becoming the primary caregiver? It is when Critical Illness Insurance comes in to reduce the financial burden.
Your Health and Recovery Are Among the Most Critical Aspects
Nobody knows when they will get unwell. Suppose an unexpected diagnosis occurs and you have the Critical Illness Insurance policy. In that case, you’ll feel secure knowing that your finances are safe, which means you can concentrate on improving your health.
Contact us to start the process of finding out more about this vital insurance option. Call Ottawa Life Insurance at (613) 454-1424 or email: info@ottawa-lifeinsurance.ca.
Recent Comments