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Posts from the ‘Living Benefits’ Category

21
Oct

1 in 3 Canadians Will Become Disabled Before the Age of 65

What You Need to Know About Your Group Long Term Disability

Having a source to replace your earned income in the event of an illness or accident is vital considering that on average 1 in 3 Canadians will become disabled for a period of more than 90 days at least once before the age of 65.  For those that are disabled for more than 90 days the average length of that disability is 2.9 years.

If you are one of the approximately 10 million Canadians covered under a group long term disability plan (LTD) it’s important to understand what your coverage provides. Don’t wait until after you’re disabled to read the employee handbook, because you could have a few surprises!

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 »

17
Dec

Recover Your Long Term Care Costs

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 »