In today’s fast-paced world, unforeseen health challenges can disrupt our lives and jeopardize our financial stability. Yet very few people consider the financial repercussions of recovering from a serious accident or illness. Though no one likes to believe that a serious illness could happen to them, the truth is that it’s fairly common. Did you know that a majority of working Canadians (68%) have encountered instances of taking time off work due to disability1? Additionally, chronic diseases, which are on the rise in Canada2, pose significant concerns for individuals and families alike.
However, it’s not all doom and gloom. The good news is that you are more than likely to survive a major health event, and disability isn’t necessarily permanent. However, the financial implications of such situations can be burdensome.
Thinking about these two questions can help guide you in the protection you may need for your family and financial future.
What would happen if you were no longer able to work?
Could you cope with the loss of earnings?
Here’s what you can obtain now, to get peace of mind from the unpredictability of a health-related disruption to your daily life.
Critical Illness Insurance – If faced with a medical crisis, Critical Illness Insurance provides a lump sum cash benefit upon diagnosis.
Disability Insurance – Disability Insurance pays a monthly tax-free benefit to help cover loss of income for those under age 65.
Not everyone’s needs are the same when it comes to coverage, and we would be happy to chat with you about the right coverage for you. Connect with your advisor to set up a time.
