Critical Illness (CI) is a living benefit insurance coverage which pays a tax free lump sum 30 days after diagnosis of a dreaded medical event like a heart attack, a heart bypass, life threatening cancer, or a stroke. These four (4) events account for 95% of the CI cost. There are many other events covered like multiple sclerosis, kidney failure, paralysis, blindness, deafness, rheumatoid arthritis, benign brain tumor, loss of limbs, major organ transplant, Alzheimer’s disease, Parkinson’s disease, coma, loss of speech, major head trauma, Occupational HIV, late onset insulin dependent diabetes, heart valve replacement, loss of independence.
Some important reasons why our clients purchase CI are:

· To alleviate the financial stress that can accompany a medical event. Coping with illness can result in significant and unexpected costs not covered by our provincial health plan.
· To protect retirement planning. Many of us have saved by investing in RRSP’s and other investments. A CI event could result in depletion of our pension savings. CI coverage protects us from using up our retirement capital. The chances of a critical illness attack are much higher than those of death, at least before retirement.
· To provide key person coverage for a business. A CI event could bankrupt or create financial pressure to a small business owner. CI coverage injects funds to finance a business while the key person is away or to activate a Buy/Sell agreement.
CI is part of some life insurance policy features. This remarkable feature allows the policy holder to withdraw cash values tax free in the event of a critical illness.

There is also a Premium Refund option which returns all premium paid tax free after a specified period of time.

Most policies offer access to the services of Best Doctors, a network of world-renowned physicians and medical facilities. Their service may include consultation with family and attending physician, identification of best experts worldwide for special situations, personalized assistance for medical appointments, travel and accommodation arrangements, and coordination of patient inquiries, 24/7.