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
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
Will your family be affected by the costs of caring for an aging loved one?
Statistics Canada states over 350,000 Canadians 65 or older and 30% of those older than 85 will reside in long term care facilities. With increasing poor health and decreased return on investments, the fear of facing financial instability in your declining years is real.
How will this impact your family?
Caring for an aging parent or spouse takes its toll emotionally and financially. Adult children with families and job pressures of their own are often torn between their obligations to their parents, children and careers. This often results in three generations feeling the impact of this care. Read more