Critical Illness insurance can be provided as a separate policy; however, many people prefer to have this benefit as an add-on to their life insurance plan. In turn the plan will offer a broader spectrum of coverage than life or critical care insurance can provide as standalone products.
This additional benefit will ensure that you are protected should you be diagnosed with a critical illness covered by your policy. You will be paid a lump cash sum following a 30 day waiting period. Some companies provide a 10% advance of the balance before the waiting period.
The types and number of conditions covered vary from insurer to insurer, however; typically cancer, heart attack and stroke are among the covered illnesses.
Here at BPS Financial Inc. we are able to offer a range of Life and Critical Illness Insurance products from leading Canadian insurance providers, thus providing an opportunity to choose the plan that is just right for you. Please CLICK HERE if you would like to receive a no obligation quote or further information about Life & Critical Illness Insurance. For a complete list of our insurance providers please CLICK HERE.