• Critical Illness Insurance is a “Good news” story as more Canadians are surviving illness due to earlier detection and better treatment options.
   
• It was created by a doctor – not an insurance company
   
• As doctors help patients survive, recovery is often accompanied by financial strain, which created the need for critical illness insurance.
   
• Critical illness is random.  It can strike anyone; Michael J. Fox, Mario Lemieux, Sheryl Crow and of course the man everyone thought was in the best shape possible…Lance Armstrong.

Critical Illness insurance pays out a lump sum of tax-free money when a person is diagnosed with a covered illness and survives 30 days.  How you use the money is up to you!  If you stay healthy, you can get 100% of your money back!

• Avoid withdrawing money from an RRSP or other savings or investments
   
• Keep a business going during recovery (fire yourself first so your employees’ income does not suffer, hire replacement and play hide and seek with your banker while recovering)
   
• Let the stress of your mortgage payment or other debt go away during a serious illness
   
• Choose medicine and treatments not covered by group, personal or government plans
   
• Renovate your home or relocate
   
• Replace lost income so you have choices- your partner can take time off work to be with you or you may want to take an early retirement. 
   
• Spend the insurance company’s money on self comforts such as travel, hotel rooms the day of treatments, food, parking, etc.

Something to think about…

• Who do you know that has suffered from cancer, heart attack or stroke?
   
• Did they plan on becoming ill?
   
• Was there unplanned emotional or financial strain?
   
• Would cash have helped?  How would it have helped?