Critical Illness Insurance

Critical illness insurance is a form of health insurance that pays a lump-sum amount if you are diagnosed with one of the listed illness. These usually include cancer, heart attack, bypass surgery, stroke, kidney failure and many more illnesses. Coverage cannot be purchased for a pre-existing condition or illness. The cost of the premium would vary depending on your age, medical condition, amount of coverage, number of illnesses covered by the policy, and the insurance company.

Statistics reveal that in every three Canadians one is prone to get cancer and in every four Canadians one is prone to get heart disease. In such an alarming situation, it is always advisable for every responsible person to be well prepared to face any contingency health conditions. Critical illness insurance would help you do that. The greatest advantage of this coverage is that the benefit is tax free and you can use that for any purpose. You are entitled to collect the entire benefit even if you recover from your illness completely. When your health is at its worst you can count on your Critical Illness plan to help with the recovery process.