Critical Illness Insurance Coverage and Policies

Critical Illness Insurance Coverage and Policies - Harpreet Puri

Safeguard yourself and your loved ones with Critical Illness Insurance

In recent times with the advancement of technology in medicine, we have seen survival rates significantly go up. But at the same time, these medical procedures can cost a fortune. Treatments related to major illnesses like cancer and other surgeries can be a financial strain on your loved ones as well. Harpreet Puri can help select the right critical illness insurance to ensure you and your family are financially secure in the event of an illness.

Why do I need Critical Illness insurance coverage?

  • Critical illness insurance provides additional coverage for major medical emergencies like a stroke, heart attack, or cancer.
  • Critical illnesses often incur higher medical costs, which a traditional health insurance policy may not cover. This coverage pays out cash to help cover those medical costs.
  • These policies are affordable. However, the illnesses or medical emergencies that they will cover is limited to a few.
  • The benefit received from this coverage is tax-free and is paid directly to you.
  • This insurance policy provides a security blanket that gives you the freedom to manage your condition rather than worry about the financial implications on yourself and your family.

How does Critical Illness Insurance differ from Medical Insurance?

  1. Critical illness insurance provides the insured with a lump sum amount if you suffer from any illness covered in the policy.
  2. It reduces the financial burden and gives you the freedom to spend the money how you see fit, as the lump sum amount will be received as a cash payment and not as a reimbursement.
  3. The money received can be used to pay for private nursing, any medical equipment, or even to pay off your mortgage.
  4. Under critical illness policy, you may have to survive 60 days after your illness has been diagnosed to claim the lump sum benefit.
  5. If you pass away while the policy is in effect, the premiums you paid so far will be refunded.

Give Harpreet Puri a Call Today!

Medical bills are the most common cause of bankruptcy in Canada. It is imperative that you protect yourself and your family against unforeseen medical circumstances, especially if you have a family history suffering from any critical illnesses mentioned above. In the unfortunate event you become sick to work, critical illness insurance coverage gives you the ability to use the money as you see fit to take care of a wide range of needs. As with all types of insurance, you must do your due diligence before making a well-informed decision. Contact Harpreet Puri today to find out more information or to discuss your specific needs and situation.