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Canada Life Critical Illness Insurance

Canada Life Health Insurance Plan

Canada Life Critical Illness Insurance – The Robust Critical Illness Plan You Need

About one in 2.2 men and one in 2.4 women in Canada could develop cancer in their lifetime and up to 63 percent is expected to survive, thanks to improved medical technology. However, with the improvement in medical technology comes an astronomical increase in medical costs. Critical illness can put you and your loved ones in serious financial stress if you don’t plan for it.

With Canada Life’s critical illness insurance, you can protect yourself and your loved ones in the event of such a life-threatening condition.

If you are looking for a financial protection that will help you to cover the costs associated with recovery from a life-threatening illness condition, you need this critical illness insurance plan. You also need this plan to protect your loved ones. The plan includes a lot of benefits such as support services, coverage for uncovered expenses, protection for your retirement and so forth.

How Canada Life’s Critical Illness Insurance Works

If diagnosed with a critical illness condition, you will receive a tax-free lump sum after surviving the survival period specified in the policy. In addition, you are free to spend the lump sum amount the way you want and as you deem fit such as covering lost income, paying off a mortgage, paying for private nursing and so forth. This helps you to focus on your recovery.

  • The critical illness insurance plan will pay you a tax-free lump sum if diagnosed with a critical illness. The amount can be used the way you want to help you focus on your recovery.
  • The tax-free lump sum is paid to the insured if he survives the waiting period specified in the insurance policy.
  • You can use the amount paid in this plan for several purposes such as paying for private nursing, covering lost income, paying off a mortgage, or for medical equipment.
  • The critical illness insurance offers a number of benefits such as support services that help you to survive or cope with difficult times. It provides coverage for uncovered expenses such as certain drug prescriptions, and other treatments out of pocket.
  • If you don’t experience a covered critical illness, you can opt for the return of premium option to get your money back 100%.
  • The critical illness plan will help you to protect your retirement. It prevents you from withdrawing from your retirement savings due to a critical illness condition.

Ask your Broker about Canada Life Critical Illness Insurance Quotes and Compare!

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