Critical illness insurance: protection from the unexpected

#Exploring your options

Learn how critical illness insurance can help you manage a life-threatening illness

When it comes to cancer, heart attack or stroke, you may think: “That couldn’t happen to me.”

But the truth is, the risk of experiencing a life-threatening illness is very real. Did you know:

  • Two out of five Canadians will develop cancer in their lifetime?Footnote 1
  • Every four minutes, someone in Canada is diagnosed with cancer?Footnote 1
  • Your financial security plan can include protection for the unexpected?


Chances are you know someone who’s experienced cancer, a heart attack or stroke. Most of us have. A critical illness can affect almost anyone – including people who are in otherwise perfect health.

The risk of experiencing a life-threatening illness is very real.
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While it’s not fun to think about what might happen if you, your spouse or child experience a critical illness, it’s important to have a plan in case the unexpected occurs. This plan should help ensure you/your family can:

  • Pay important bills (mortgage, hydro, gas)
  • Cover medical expenses not covered by government or workplace health benefit plans
  • Afford alternative treatments to help with recovery
  • Avoid dipping into retirement funds or savings to cover expenses
  • Concentrate on recovery, rather than worry about finances

A Freedom 55 Financial security advisor can help you create a plan – including critical illness insurance – to help protect yourself and your family from any financial, or non-financial issues that might come up.

 

Canadian Cancer Society, "Cancer statistics at a glance"

The information provided is based on current laws, regulations and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature, and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax or other professional advisors.

 

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Freedom 55 Financial security advisors are with you every step of the way. Not only will they guide you through the financial security planning process by focusing on your personal needs and goals, they’ll help you understand your options so you can make smart choices. And as your needs change, your financial security plan can change, too. That’s true financial freedom.

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