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Plan for the unexpected with critical illness insurance

Written By: Coast Capital Financial Management

We know you don’t want to think about it, but how prepared would you be if you were suddenly diagnosed with a serious illness or condition? If your answer is not really then there are some things you can do to prepare so you are protecting yourself, your family and your finances.

What are some options to protect yourself?

Critical illness insurance is a helpful way to protect yourself from unforeseen expenses that can come with a serious illness.

Our team will work with you to find solutions based on your budget and individual needs. We’ll also shop and compare with multiple top insurers to make sure the solution is right for you.

How does critical illness insurance work exactly?

If you have it in place, you’ll get paid a lump sum after your initial diagnosis. You can use this to pay your mortgage, other bills, or additional medical treatments.

Think about the financial impact of your recovery.

It takes time to get better and back on your feet – you don’t need the additional stress of rushing to get back to work when you’re not ready. By having this coverage in place, you’ll also protect your long-term savings such as investments in RRSPs, RESPs and TFSAs.  This coverage can also prevent you from having to take on additional debt during your recovery by providing you a lump sum benefit.

Get the protection in place so you don’t have to worry.

Many of us aren’t prepared, so learn about these kinds of insurance options and make a plan. Critical care insurance will protect you from the loss of income and high expenses that come with going through a serious health issue, like cancer or a heart attack, so your family is taken care of and you don’t have to worry about your money when you need to focus on getting better.

 

The stuff we have to say.
Coast Capital Savings Federal Credit Union provides advice and service related to deposit, loan and mortgage products. Coast Capital Wealth Management Ltd provides investment and financial planning services. Coast Capital Financial Management Ltd. provides advice and service related to segregated funds, annuities and life insurance products. Worldsource Financial Management Inc. provides advice and service relating to mutual funds. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses may all be related with mutual fund investments. Important information about mutual funds is contained in the relevant fund facts and simplified prospectus. Please read the fund facts carefully before investing. Only deposits held in Canadian currency, having a term of five years or less and payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.
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