Why do you need critical illness insurance?

OHIP, your health benefits are not enough

You will probably be surprised to know that up to two thirds of the costs to cancer patients are not directly related to their treatment. Instead these expenses are related to nursing care, medical care, day to day living expenses, travel to receive treatment, home health care, child care and other expenses not covered by Ontario health insurance. 

Additionally, medical issues and illnesses are still the third leading cause of bankruptcy in Canada, behind job loss and divorce, despite the public health care system. 

The situation is much worse if the cancer patient needs to pay the drug treatment from their own pocket: According to a 2009 report released by the Canadian Cancer Society, The average cost of a single course of cancer drugs is $65,000, which is nearly as high as the average Canadian’s annual income.  

This is where critical illness insurance is a good solution. With this affordable and relatively cheap insurance, you will have the security of knowing that 30 days following a diagnosis of a critical illness including cancer, heart attack, stroke, coronary bypass, or aortic surgery, you will receive a one-time, lump sum benefit – paid directly to you. With critical illness insurance in place you will have fewer financial worries and be able to focus on what’s really important – making a full and speedy recovery.

For more information, please contact us.