Are You Prepared For The Hard Times ?

In a world where the unexpected can swiftly become reality, living benefits stand as a vital shield, protecting you and your loved ones from the financial storms that serious health issues can bring. These are not just policies; they are lifelines, ensuring that during the most challenging times, financial worries are the least of your concerns !

Understanding

Living Benefits

Elderly woman resting in a hospital bed, serene, patient care

Critical Illness Insurance

Provides a lump-sum payment if you are diagnosed with a covered illness, helping cover medical costs and lost income. This protects you against cancer, heart attacks, strokes, and other life-altering illnesses.

Real Life Examples

Sarah, a 45-year-old teacher, was diagnosed with breast cancer. Her critical illness policy paid out a lump sum, which she used to cover her medical expenses, take time off work for recovery, and even fulfill her dream of visiting family overseas during her recovery period. Without the financial strain, Sarah could now focus on healing.

"Every year, tens of thousands of Canadians are diagnosed with critical illnesses. The Canadian Cancer Society reports that nearly 1 in 2 Canadians will be diagnosed with cancer in their lifetime" (Source: Canadian Cancer Society)

Understanding Living Benefits

Critical Illness Insurance

Provides a lump-sum payment if you are diagnosed with a covered illness, helping cover medical costs and lost income. This protects you against cancer, heart attacks, strokes, and other life-altering illnesses.

Real Life Examples

Sarah, a 45-year-old teacher, was diagnosed with breast cancer. Her critical illness policy paid out a lump sum, which she used to cover her medical expenses, take time off work for recovery, and even fulfill her dream of visiting family overseas during her recovery period. Without the financial strain, Sarah could now focus on healing.

"Every year, tens of thousands of Canadians are diagnosed with critical illnesses. The Canadian Cancer Society reports that nearly 1 in 2 Canadians will be diagnosed with cancer in their lifetime" (Source: Canadian Cancer Society)

Disability Insurance

Offers monthly benefits if you're unable to work due to illness or injury, replacing a portion of your income. This protects against injuries or illnesses that prevent you from working and earning an income.

Real Life Examples

Mark, a 37-year-old software developer, suffered a severe back injury in a biking accident, leaving him unable to work for six months. His disability insurance replaced a significant portion of his lost income, allowing him to pay his mortgage and support his family while he focused on rehabilitation and eventually returned to his job.

"Statistics Canada highlights that over 20% of Canadians aged 15 and over live with a disability that limits their daily activities" (Source: Statistics Canada)

Therapist assisting senior man with walking exercise, physical therapy

Disability Insurance

Offers monthly benefits if you're unable to work due to illness or injury, replacing a portion of your income. This protects against injuries or illnesses that prevent you from working and earning an income.

Real Life Examples

Mark, a 37-year-old software developer, suffered a severe back injury in a biking accident, leaving him unable to work for six months. His disability insurance replaced a significant portion of his lost income, allowing him to pay his mortgage and support his family while he focused on rehabilitation and eventually returned to his job.

"Statistics Canada highlights that over 20% of Canadians aged 15 and over live with a disability that limits their daily activities"

(Source: Statistics Canada)

Long Term Care Insurance

Covers the costs of long-term care services, whether at home or in a facility, when you can no longer perform everyday activities on your own. This protects against chronic illnesses or disabilities requiring long-term care services, either at home or in a facility.

Real Life Examples

After Grace, an 80-year-old retired nurse, suffered a stroke, she needed daily nursing care. Her long-term care insurance covered the cost of home care services, enabling her to recover in the comfort of her home, surrounded by family, without depleting her retirement savings.

"The Canadian Institute for Health Information notes that the number of seniors needing continuing health care will rise by over 70% in the next 30 years. Long-term care insurance ensures that you can receive the care you need without depleting your life savings" (Source: The Canadian Institute For Health Information)

Nurse with elderly woman in wheelchair and therapy dog, outdoor care

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Long Term Care Insurance

Covers the costs of long-term care services, whether at home or in a facility, when you can no longer perform everyday activities on your own. This protects against chronic illnesses or disabilities requiring long-term care services, either at home or in a facility.

Real Life Examples

After Grace, an 80-year-old retired nurse, suffered a stroke, she needed daily nursing care. Her long-term care insurance covered the cost of home care services, enabling her to recover in the comfort of her home, surrounded by family, without depleting her retirement savings

"The Canadian Institute for Health Information notes that the number of seniors needing continuing health care will rise by over 70% in the next 30 years. Long-term care insurance ensures that you can receive the care you need without depleting your life savings"

(Source: The Canadian Institute For Health Information)

Choosing the Right Living Benefits Plan

Choosing the Right

Living Benefits Plan

Evaluating personal and family health histories and current financial responsibilities

Understanding the specifics of each plan, including coverage limits and exclusions

Considering your overall financial plan to ensure seamless integration of living benefits

How We Can Help ?

Personalized Assessments

We evaluate your unique situation to recommend the most suitable coverage.

Expert Advice

Benefit from our expertise in comparing plans and navigating complex policy details.

Ongoing Support

We assist with the application process and advocate on your behalf during claims.

It Cost $0 To Speak With An Expert !

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FAQS

WHAT ARE LIVING BENEFITS ?

Living benefits are insurance products that provide financial protection in case you suffer from a serious illness, disability, or require long-term care. They are designed to offer financial support when you need it most, ensuring your lifestyle and financial obligations are maintained.

WHAT IS THE DIFFERENCE BETWEEN CRITICAL ILLNESS AND DISABILITY INSURANCE ?

Critical illness insurance provides a one-time payment following the diagnosis of a covered illness, regardless of your ability to work. Disability insurance provides ongoing payments to replace a portion of your income if you're unable to work due to illness or injury.

CAN YOU STILL GET BENEFITS IF YOU HAVE A PRE EXISTING CONDITION ?

Coverage options for individuals with pre-existing conditions may vary. While some policies might have exclusions based on your health history, others may offer coverage with adjusted terms. It's crucial to discuss your specific situation with an advisor.

WHAT ILLNESSES ARE COVERED UNDER CRITICAL ILLNESS INSURANCE ?

Commonly covered conditions include heart attack, stroke, cancer, and major organ transplants, among others. The exact list of covered illnesses varies by policy, so reviewing your policy details is important.

HOW DO YOU CHOOSE THE RIGHT AMOUNT OF COVERAGE ?

The right amount of coverage depends on your financial obligations, lifestyle, and any other sources of support you may have. Consider consulting with a financial advisor to assess your needs and recommend an appropriate coverage level.

HOW LONG DOES IT TAKE TO RECEIVE A CLAIM PAYOUT ?

The time frame can vary depending on the insurer and the complexity of the claim. However, most insurers aim to process claims quickly, often within several weeks of receiving all necessary documentation.

CAN YOU HAVE MULTIPLE POLICIES ?

Yes, you can hold multiple policies from different insurers. This can increase your coverage but also means managing and understanding the terms of each policy.

HOW CAN LIVING BENEFITS FIT INTO YOUR OVERALL FINANCIAL PLAN ?

Living benefits should be a key component of your financial plan, providing security against unexpected health issues that could impact your finances. They complement other financial planning elements, such as retirement savings and life insurance.