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As Canada’s population grows, the prevalence and risks of being diagnosed with severe illnesses like cancer, stroke, and heart disease will increase significantly. A critical illness diagnosis can be emotionally and financially devastating, but most Canadians are not prepared for the financial impact it can have. Many people cannot secure adequate coverage due to the cost and high rejection rates associated with traditional critical illness plans.
In addition to being affordable and accessible to all Canadians, popular insurance company, Critical Illness plans have several built-in features that allow your clients to boost their policy’s potential:
The policy remains in force after the first benefit is paid, and the client remains eligible to receive compensation for a second, unrelated critical condition.
In the event of recurrence of the same type of cancer, after a claim has been paid, the benefit amount can be paid again, after which the policy remains in force.
At no additional cost, the benefit amount will automatically increase by 5% of the original benefit value every (5) five years the coverage remains in force, up to a maximum of 25%.
Contact your agent to learn more about Critical Illness plans today.
The first insurance in the country is a medical policy coming to Canada - Visitors to Canada Insurance (Travel Insurance Canada).