With the advances in medical science, we face the possibility that we will suffer a serious illness, survive the initial illness and live for many more years.
Consider these facts:
- 1 in 3 people will develop some form of cancer during their lifetime
- 2 in 19 women will develop breast cancer
- 1 in 9 men will develop prostate cancer
- 1/3rd of stroke victims are under age 65
- 80% of heart attack victims survive
However, on the way to recovery, the financial obligations can be very challenging. Critical Illness (CI) insurance is an innovative form of coverage which pays out a tax free lump sum benefit of up to $2 million after 30 days from the initial diagnosis. There are 21 different illnesses covered through CIincluding heart attack, cancer or stroke.
As well, most Critical Illness plans provide access to the services of Best Doctors© at no additional cost. Best Doctors© is one of the world's pre-eminent independent authorities of healthcare. Having access to their services will provide personalized medical evaluations by world-class specialists renowned as experts in the diagnosed condition. Best Doctors© can select and provide complete professional biographies of up to three leading specialists for the diagnosed condition either in the insured's hometown, across Canada or around the world. Best Doctors© can also arrange appointments with top medical experts and hospitals in the United States. By utilizing these services the insured may qualify for significant costs discounts of up to 70%.
There are a few different options for how to cover yourself and your employees with critical illness insurance. It can be a personal plan, a company plan, or can cover specific executives.