CRITICAL ILLNESS INSURANCE
Contracting a serious illness or disease can be devastating to your health and to your finances. Should you be unable to work due to failing health, you may find yourself unable to pay for basic needs or necessary medical care, adding worries about money to worries about your health. Critical illness is designed to alleviate your financial concerns should you find yourself facing life-threatening health problems. It's no cure-all, but if you fall prey to a bout of very ill health, at least you'll be able to focus your attention on getting well, rather than on making ends meet.
Benefits of Critical Illness Insurance
With Critical Illness Insurance, you may receive an amount to pay for additional expenses associated with a critical illness such as:
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Obtain home care or get someone to help with domestic chores or childcare
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Make up for loss of salary in the event of long term disability or inability to contribute to a pension plan
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Enjoy the best available treatments
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Avoid to depend on help from your children or family
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Have work done to adapt your home or purchase adaptative equipment
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Keep your RRSP intact
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Continue paying off your debts (mortgage, loan,
credit card balance)