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Posts from the ‘Critical Illness Insurance’ Category

24
Oct

Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

The Sandwich Generation was a term coined by Dorothy Miller in 1981 to describe adult children who were “sandwiched” between their aging parents and their own maturing children.  There is even a term for those of us who are in our 50’s or 60’s with elderly parents, adult children and grandchildren – the Club Sandwich.   More recently, the Boomerang Generation (the estimated 29% of adults ranging in ages 25 to 34, who live with their parents), are adding to the financial pressures as Boomers head into retirement. It is estimated that by 2026, 1 in 5 Canadians will be older than 65. This means fewer adults to both fund and provide for elder care.  Today, it is likely that the average married couple will have more living parents than they do children.

What are the challenges? Read more »

19
Oct

Juvenile Critical Illness with Return of Premium

Protection if you need it.  A refund if you don’t.

Critical Illness Insurance – Not Just for Adults

Most of us have experienced or known someone whose family has been greatly impacted by a parent being diagnosed with a life-threatening disease or condition.  But what about when it happens to children?  Sadly, all too often children are affected by childhood diseases such as:

  • Type 1 diabetes mellitus
  • Congenital heart disease
  • Cerebral palsy
  • Cystic fibrosis
  • Muscular dystrophy

Read more »

14
Jul

Critical Illness for Juveniles

Many people recognize the need for Critical Illness insurance to protect them from the financial risk that could result if diagnosed with a life threatening illness.  Although a difficult subject to think about, children should also be protected from this risk as well.  If our children were to become ill the emotional and financial toll it could have on the family may equal that of the parent.

Juvenile Critical Illness provides options:

  • To find and provide the best treatment and care for your child.  Often, treatment can be very expensive, especially if the best available is outside of Canada.  Most parents would not spare any expense of this nature when it comes to their children and having tax free funds for this purpose could be life-saving; Read more »
21
Apr

Critical Illness: Are You Protected?

We all face many risks – contracting a critical Illness is one of them. Being diagnosed with a life threatening illness is not something one wants to contemplate however you can purchase Critical Illness Insurance to protect against the financial impact.


The Back Story

Critical Illness insurance was invented by Dr. Marius Barnard. Marius assisted his brother Dr. Christiaan Barnard in performing the first successful heart transplant in 1967 in South Africa. Through his years of dealing with cardiac patients, Marius observed that those patients that were better able to deal with the financial stress of their illness recovered more often and at much faster rate than those for whom money was an issue. He came to the conclusion that he, as a physician, could heal people, but only insurance companies could provide the necessary funds to create the environment that best promoted healing. As a result, he worked with South African insurance companies to issue the first critical illness policy in 1983. Read more »