Critical Illness


While disability insurance provides the necessary protection of one's income against all types of accident and sickness, and life insurance protects those left behind from financial burden, critical illness plans (also known as living benefits) are designed to provide you with large amounts of additional monies to offset the cost of care for specific health conditions. Due at least in part to advances in medical knowledge and treatment, an increasing number of individuals survive and recover from many life threatening critical illness events, or could if the money was available to obtain the appropriate treatment.
Basic Features Of Life Insurance
With increasing government cutbacks on hospital care and treatment funding, the quick availability of substantial funds can also impact on the survival prospects of the individual. Those with funding can seek and obtain treatment (out of country or alternative drug therapy), private care (nursing or physiotherapy), and lifestyle improvements to enhance the quality of life (house modifications, homemaker, modified vehicle, etc). Those without funds will be impacted most as a critical illness will affect not only you, but your family as well through the financial burden it can bring.
There is no doubt that quality care and treatment is very expensive, with adequate funds often not available in large enough quantities when it's needed most. However, Critical Illness Programs are a cost effective solution. Several carriers now offer this unique program, and coverage is available for a number of conditions including (but not limited to):
  • Heart Attack
  • Stroke
  • Cancer
  • Alzheimer's
  • Coronary Artery Disease requiring surgery
  • Multiple Sclerosis
  • Parkinson's
  • Coma
  • Blindness
  • Major Organ Transplant Recipient
  • Major Organ Transplant Waiting List
  • Paralysis
  • Severe Burns
  • Aortic Surgery
  • Benign Brain Tumour
  • DeafnessHeart
  • Valve Replacement
  • Kidney Failure
  • Loss of Limbs
  • Loss of Speech
  • Motor Neuron Disease (ALS or Lou Gehrig's Disease)
  • Occupational HIV Injury
Benefits are payable upon onset or diagnosis of the covered condition, and are available from $10,000 to $2,000,000 (paid as a lump sum). Benefits are payable 30 days following diagnosis (plan provisions will prevail), available to anyone between 18 and 65 who qualifies.

Click on the links below to read some additional information/articles relating to this valuable coverage.
Canadian Stats – Covered Conditions
Claims Experience by Illness
Critical Illness Recovery Protection Overview
Just Say No to Bank Critical Illness
Risk of Critical Illness Compared to Death
What Really Matters
Why Purchase a Critical Illness Plan

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Kirkham and Jack is working in partnership with Continuum Financial Centres , a subsidiary of Financial Horizons Group