Critical Illness Insurance

Critical Illness Insurance is a unique product which provides you with much needed funds upon surviving 30 days after the occurrence of a covered critical illness.  CI pays a onetime lump sum of money upon the diagnosis of heart attack, stroke, cancer and 20 other conditions.  This money can be used for treatment, to replace loss of income, repay your debts or whatever the beneficiary prefers.  One of our clients opted to go on a cruise with his wife before he died six months later.
 
Should you die while the policy is in effect and before you qualify to receive the lump sum payment, all the premium payments on regular related policies are returned to your beneficiary.
 
CI Insurance is designed for the living.  You may survive a CI condition but there is certainly going to be a financial loss which is why CI insurance provides you with the financial relief.  The coverage is paid out to your regardless of your ability to work, which is different from a disability policy.  The cost of CI Insurance will only rise in the future as claims experience catches up to reality…therefore it is in your best interest to purchase it now.
 
As a general tool to help you calculate how much CI Insurance you need go to InsureRight. 
 
For more information on the Manulife product, Life Cheque Basic CI please follow the links below.