Critical Illness Insurance - An Idea Whose Time has Come!

Medical breakthroughs, and advances in patient care mean that most people have a greater chance of surviving a critical illness. In most cases life, health, and disability insurance do not cover all the income lost recovering from a critical illness, and cannot protect RRSPs, retirement and other savings, or your business.

If you develop a critical illness you may be faced with unexpected expenses like:

• private home nursing;
• home renovations; or
• medical care not covered by your provincial health care plan.

As well, your income may be reduced as a result of having to work fewer hours or making a career change due to your illness. Struggling to meet these additional expenses combined with meeting your everyday financial obligations could create a stressful situation and may even affect your recovery.

Critical illness insurance is designed to protect you from these financial risks. The proceeds from a critical illness policy are paid in a lump sum, usually 30 days after you have been diagnosed with a covered illness.

Proceeds from a critical illness policy can be used as you wish. Unlike traditional disability insurance, when you make a claim under a critical illness policy, your benefit is not based on a reduction in your income, but is paid in full according to the terms of the insurance policy.

For example, you may wish to use the proceeds to:

• pay off outstanding liabilities such as a mortgage or line of credit;
• provide an emergency fund for home care; or
• supplement your income while you are unable to work.

Empire Life, a leader in critical illness coverage, has two critical illness insurance products to choose from: VITAL LINK and Trilogy's Life Plus.

To determine the right product and the right amount of coverage for you and your individual situation, talk to your independent advisor.

Covered Illnesses
Disability Insurance
VITAL LINK
Why Use An Independent Advisor?