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.