Critical Illness Insurance
No one plans to be diagnosed with a critical illness, yet it's a reality many Canadians face.
According to the Canadian Cancer Society, nearly half of all Canadians will encounter cancer during their lifetime. In 2020, there were 225,800 new cases of cancer reported.
A critical illness diagnosis can have a profound impact on your life, not just emotionally and physically, but financially as well. That's why we offer critical illness insurance designed to provide you with the financial assistance you need to maintain your standard of living and focus on your recovery. Our insurance is created with you in mind, ensuring that you can concentrate on what truly matters—your health.
What is Critical Illness Insurance?
Critical illness insurance provides a tax-free lump sum payment if you are diagnosed with a critical illness covered by your policy. This financial cushion allows you to cover the costs associated with your illness, whether it’s medical bills, home care, specialized equipment, or simply to keep up with your mortgage payments. The best part is that you can use the money as you see fit without having to justify your expenses to anyone.
A Few Reasons to Consider Critical Illness Insurance:
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Focus on Your Health
A critical illness diagnosis can be overwhelming. With critical illness insurance, you can focus on your recovery without the added stress of financial burdens. Knowing that you have a financial safety net allows you to prioritize your health and well-being.
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Avoid Financial Strain
Medical expenses, home modifications, and other illness-related costs can quickly add up. Critical illness insurance provides you with the funds needed to cover these unexpected expenses, ensuring that your financial stability remains intact even if you’re unable to work.
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To Protect Your Kids
Critical illness insurance isn’t just for adults. It can also provide financial support if your child becomes ill or needs surgery. This means you can stay by their side without worrying about the financial implications, ensuring that they receive the best possible care.
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To Protect Your Business
If a business owner is diagnosed with a critical illness, the financial consequences can reach beyond their medical bills. The stability of maintaining business operations, retaining staff, and handling ongoing expenses could be at risk. Critical illness insurance provides a crucial safety net, delivering a lump sum payment that helps keep the business running smoothly during tough times.
Comprehensive Coverage Options
Our policies cover a wide range of critical illnesses that affect Canadians the most, including cancer, cardiovascular diseases, neurological disorders, and certain childhood diseases. Depending on your needs, you can choose a plan that offers a smaller or larger range of coverage. Our experienced advisors will work with you to determine the best option for your unique situation.
Get Started with M Bacal Today
Navigating the complexities of insurance can be daunting, but our dedicated team is here to help. We will conduct a thorough needs analysis, help you understand your options, and create a tailored insurance plan that meets your needs. Protect your future and secure your peace of mind with critical illness insurance.
Reach out to us today to find an advisor and start the conversation about how critical illness insurance can improve your financial security.