You worked hard to plan for the future and in the process we developed a sound investment plan moving forward. But what would happen to all your plans if you had a heart attack or stroke or were diagnosed with cancer today or a few years from now? How would your lifestyle be affected? What would happen to your savings? What would happen to your family and your future? Using your current investments could have a long-term impact on your portfolio, which may be difficult to recover from. Your retirement income goals could fall short of allowing you to retire on your terms.
Critical illness insurance is valuable protection that you need to know about. It can help protect your retirement savings and preserve your lifestyle while relieving the financial burden of suffering from a serious illness – including heart attack, stroke and cancer.
How does it work? With critical illness insurance, if you become ill and survive a waiting period, you will be paid a lump sum amount that you can use any way you choose, including:
– taking an extended leave from work,
– having a family member take time off to be with you,
– travelling for treatment, and
– covering everyday expenses like mortgage payments and retirement savings contributions.
The key feature of critical illness is the ability to receive your premiums back if you don’t make a claim. It is an option most clients choose when setting up their coverage.
Let me know if you would like to discuss how this important coverage may help protect you, your family and your future. In the meantime, I enclose an article for your review. The source is the Globe and Mail and it talks about this very topic.