How Do You Plan For This?

Who will look after your family, pay your mortgage, or pay for the high cost of your drugs* when you are fighting for your life?

Critical illness is not something we would like to face at any point in our lives. The risk of becoming ill can never be eliminated completely. It's important that you take precautions so that you're able to make financial choices. Securing critical illness insurance now, while you're healthy, is one way to cover some of the unexpected expenses that will inevitably arise as a result of your illness.

Unfortunately, critical illness can affect any one of us, no matter what age or gender. It usually strikes when we least expect, and sadly, it does happen to many.

Critical illness insurance pays a lump sum benefit following the diagnosis of one of the covered illnesses. It gives you financial choices. It allows you to recover on your own terms by providing you with additional money to help cope with the many expenses associated with critical illness. This type of insurance helps you pay for medicine and treatments that are not covered by group, personal or government plans. This insurance helps you to replace lost income and maintain your lifestyle and/or your business.

*Cancer Society Releases Report on Cancer Drug Coverage
Josh Pringle – The Ottawa Citizen Monday, September 14, 2009

The Federal Government is being urged to take the lead in developing a catastrophic drug program. The Canadian Cancer Society has released a report today saying a patchwork system of coverage for cancer drugs across Canada mean patients are being denied equal access to life-saving treatments. The report says patients in some provinces will have cancer drugs covered under comprehensive insurance plans, while those in other jurisdictions must pay some or all of the cost. Director of National Public Issues Dan Demers says “it is increasingly becoming the fact that your ability to get the drugs you need is dependent upon where you live and how much money you have.” The report also says three-quarters of cancer drugs taken at home cost more than $20-thousand a year. It adds the average cost per course of treatment with newer cancer drugs is $65-thousand.