We have been receiving more and more inquiries regarding insurance covering the occurrence of a life threatening illness.  There is just such coverage called Critical Illness Insurance. This type of insurance is designed to pay a tax free lump sum of cash on the diagnosis of a life threatening illness such as heart attack, stroke or cancer.

Most people want to know the true financial effect of such an event and the linked article below gives a good viewpoint referring to studies done by the Canadaian Breast Cancer Institute. We usually propose coverage to replace a full years income, so if you are making $50,000.00 per year, female, non smoker, age 40, your premiums would only be about $30.00 per month (assuming “standard” health underwriting results).  Please review the article and contact us for more information.

Harvey

Economic impact ‘huge’ for breast cancer patients, report says – The Globe and Mail

“The economic impact of breast cancer is huge and, in many cases, devastating for patients and their families,” says the report, released Thursday.

The study, which CBCN says is the first to examine the financial and labour impacts of breast cancer, is based on a survey conducted last year of 446 Canadians with the disease.