Rolling the dice
It’s difficult to begin an article about the need for Critical Illness (CI) without showing an alarming statistic about the incidence of serious or life-threatening illness among Canadians. The reason? Statistics tend to be accepted as FACT and, at least to some degree, resistant to emotional arguments. In the case of Critical Illness or other kinds of insurance coverage, statistics should help to rebalance our personal opinions about whether or not we’ll face a serious illness in our lifetime or require insurance protection.
But, here’s the interesting part…despite the common use of statistics or FACTS, surprisingly, most of us will resolve to roll the dice. Basically, we tell ourselves that if faced with something catastrophic like a diagnosis of cancer or suffer a stroke, we’ll somehow get by…we’ll make it work. After all, it’s just not that likely to happen to us.
Pesky statistics about critical illness
OK, here’s that pesky statistic. One in three Canadians* will suffer a serious, life-threatening illness in their lifetime. What’s more, if you are among the almost 35% who will suffer a stroke or heart attack or diagnosis of cancer, you’re likely to survive it. And, that’s truer today than ever before.
Visit critical uncovered and discover how ready you are to face a critical illness versus other Canadians.
Critical Illness protection provides a lump-sum payment upon diagnosis of one of 25 covered conditions. Payments can supplement or replace lost income, pay for alternative treatments or a much needed vacation upon recovery, or fly family members to assist with care.
Critical Illness: Return of Premium Options
Critical Illness premiums are determined based upon age, gender, and smoking status, so the younger you are at time of application, the lower your monthly premiums. And, with return of premium options available with certain Critical Illness products, you are most likely out of excuses to roll the dice. Explore options here.
*Source: Munich Re,Individual Insurance Survey, 2013