Everything About Critical Illness Insurance

1. Critical illness insurance will benefit you if you get any serious medical condition that can be life-threatening for you, like cancer, heart attack, stroke, etc., as it will provide a lump sum of tax-free cash at the time of the problem. Here in this article, we will improve our knowledge of Critical Illness Insurance. What is critical illness insurance?

2. Critical Illness Insurance comes to your rescue in case you are diagnosed with a severe health condition, as it provides you with tax-free cash payment. Which health conditions you will be covered for will be defined in your contract. What are the benefits of Critical Illness Insurance? Critical Illness Insurance can be a bit expensive, but its benefits make it a worthwhile investing option. Continue reading further to find out more about the benefits. Benefits of Critical Illness Insurance ● ● It helps cover expenses not handled by your provincial or territorial health plan. It makes a lump sum of money handy for you and your family during the hard times of your illness. It helps completely eliminates financial stress so that you only have to take care of your recovery. ● Critical Illness Insurance Working Process You get solid financial support during the hard times when you get diagnosed with your illness, as Critical Illness Insurance provides tax-free lump sum cash payment for the diseases covered in your policy. The medical costs for which Critical Insurance can help you in covering: ● ● ● ● Prescription medicines Advanced medical facilities Alternative options for treatment Deductibles and co-pays Critical illness insurance also gives support in the case of non-medical expenses like: ● ● ● ● ● Takes care of lost income for self or spouse. Homecare and modification of home Repayments of debt Cost of travel and transportation Child care while you are recovering Process Critical Illness Insurance Payout

3. In case you survive the waiting period after being diagnosed with an illness that your policy already covers, in that case, you’ll get a tax-free lump-sum payment immediately after your claim gets approved, Usually 30 Days must pass after the initial diagnosis. You can make use of this money in whichever way you want. For instance, this will help take care of your out-of-pocket expenses, which are generally not handled by your provincial or territorial health insurance. These include particular kinds of rent, prescription drugs, mortgages, short- or long-term care, etc. How much critical illness insurance will you require? Many personal variables go into figuring out how much critical illness insurance to go for, including the number of your earnings you may need to replace, the expenses on healthcare and the modification of your home, and whatever other requirements that arise in your recovery journey. Get well aware of all your current expenses to figure out how much insurance you will need. Note down your potential out-of-pocket medical expenses, mortgage payments, travel costs, etc. If you can manage to cover them in a short period of time, then, in that case, critical illness insurance might not be that valuable for you. But a lot of people in Canada do not have enough savings to deal with these expenses without a constant, safe, and secure job. The problem is most of the critical illnesses leave no option for you instead to stop working. What is the right time to buy Critical Illness Insurance? If you are still thinking of going for Critical Illness Insurance, then right now is the only perfect time to go for it. Same as the other types of insurance, Critical Insurance also costs less when you are healthy and young. As you age, Critical Insurance plans keep getting more and more expensive as the risk of a sudden illness like a heart attack, stroke, or cancer increases with age. Just like term life insurance, Critical Illness Insurance also covers you up to 75 years of age. Your rate gets locked in for the remaining term at the time you buy a Critical Illness Policy Depending on the Insurance coverage you purchase.

4. Canadian LIC provides the best Critical Illness Insurance in Canada. If you are confused about picking up a perfect option for yourself, contact Canadian LIC today, as their advisors will specifically look into your particular requirements to help you figure out the perfect option for you. Canadian LIC covers the following illnesses. You can choose from them what you want to be covered: ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Heart Attack Cancer Stroke Acquired Brain Injury Alzheimer's Disease Aortic Surgery Aplastic Anaemia Autism Bacterial Meningitis Benign Brain Tumour Blindness Cerebral Palsy Coma Congenital Heart Disease Coronary Angioplasty Coronary Artery Surgery Cystic Fibrosis Deafness Dismemberment Heart Surgery Heart Valve Replacement Kidney (Renal) Failure Loss of Independence Loss of Limbs Loss of Speech Major/Vital Organ Failure/Transplant Motor Neuron /Lou Gehrig's Disease Multiple Sclerosis Muscular Dystrophy Occupational HIV Paralysis Parkinson's Disease Rett Syndrome

5. ● ● Severe Burns Type 1 Diabetes Mellitus You can go with Canadian LIC with complete confidence, as their first priority is to ensure your satisfaction. For More Details on Insurance Plans Know Benefits Of Using An Insurance Broker | How to Apply For a Super Visa Insurance | Permanent Life Insurance Plan Information Contact Details: Office: 416 543 9000 E-mail: info@CanadianLIC.com