Why is critical illness insurance important?
Regardless of your age, income or family history, the unfortunate reality is that you or a family member may be affected by a serious illness within your life. Today more than ever, people are surviving illnesses that were once fatal. Your well-being and the well-being of your family depend on the strength of your financial plan. Adding critical illness insurance to your plan can help see you and your family through such a life-changing event.
Statistics
Despite improving survival rates, illnesses and accidents often change the way we live. According to projections, on average, Canadians are expected to live with at least one disability for almost ten years of their lives1 Recovering from or living with the effects of a life-altering illness or accident can impact your finances and your daily lifestyle.
Are you ready?
1 Statistics Canada, CANSIM tables 102-0018 and 102-0019, 1996
Critical illness insurance can be understood as an investment in protection against an uncertain future.
The following statistics speak for themselves:
Statistics Canada places our lifetime probability of developing some form of cancer at one in three. 1
In the last 30 years, the cancer survival rate has nearly doubled to 55 percent.3
In recent years, the death rate among patients hospitalized for heart attacks has been cut in half to eight percent.2
75 percent of stroke victims will survive the initial event.2
As a healthy individual, it is difficult to envision how a critical illness will impact your life and the lives of your loved ones.
Are you prepared?
Sources: 1 Statistics Canada, 1999; 2 Heart and Stroke Foundation, 2003; 3 Canadian Cancer Society, 2004.