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Having critical illness insurance means not choosing between your finances and your health!

A failure of health isn't something any of us like to think about. But critical illnesses can happen! The good news is that thanks to improvements in healthy living and medical science, there is a good chance you can recover from your critical illness and get on with life but what about the impact on your finances? Recently, a family member of mine with a critical illness (CI) was given the option to try some relatively new drugs that were not covered by our healthcare system. After evaluating her financial situation, her husband and she declined as they did not have the money to pay for it as their finances would take a big hit. It was a tough decision since the new drugs seemed promising. In the end, the family decided to help fund the cost and she was able to proceed with the new treatment regime and improve her recovery odds. Unfortunately, not everyone has this option available to them. Deciding between money in the bank and treatment that could help save your life is not something anyone should have to do. Yet, many of us will experience a critical illness at some point in our lives. According to Manulife Insurance, here are some stats that may surprise you:

Greenfeld Financial | Critical Illness insurance stat

Benefits of Critical Illness Insurance

Luckily, by purchasing CI insurance, you would not be forced to choose. Having a CI policy allows you the flexibility to choose how you want to spend the money. For example, you can: • Find the best health care available – anywhere in the world • Hire a nurse or caregiver to help you at home • Make mortgage payments • Replace lost income • Pay for medication and treatment not covered by the government or employer plans • Cover travel for treatment/hospital stays • Complete home renovations to accommodate illness

What is Covered with Critical Illness Insurance?

Here is a list of some illnesses that may be covered with CI depending on your policy: Aortic surgery

Aplastic anemia

Bacterial meningitis

Benign brain tumor


Cancer (life-threatening) Coma

Coronary artery bypass surgery


Dementia, including Alzheimer’s disease

Heart attack

Heart valve replacement or repair

Kidney failure

Loss of limbs

Loss of speech

Major organ failure (on waiting list)

Major organ transplant

Motor neuron disease

Multiple sclerosis

Occupational HIV infection


Parkinson’s disease and specified atypical Parkinsonian disorders

Severe burns


Thanks to CI insurance, you no longer need to choose between health or financial security.

(Graphic sourced from Manulife Synergy Client Guide)

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