You probably know someone who has faced a major life challenge. But still, it’s difficult to believe it could happen to us.
There are three types of major risks that have been assessed as the most likely to challenge us in life; death, contracting a criticall illness, or becoming disabled in someway. Unfortunately these risks are not thought of regularly, and sadly only 8% of Canadians have coverage for all three risks. To protect against these risks, insurers have come up with 3 different types of insurance; Life Insurance, Critical Illness insurance, and Disability Insurance.
Most people know what Life Insurance is all about, but I will quickly summarize anyways. Life Insurance is a contract that states the insurance company promises to pay a designated person a sum of money upon the death of the insured person.
Some people might not know about Criticall Illness insurance, so I will go over everything that it embodies. Critical Illness Insurance is an insurance product that stipulates the insurance company will make a lump sum payment if the insured person is diagnosed with a critical illness listed in the insurance policy. The illnesses always included are Cancer, Coranary Atery Bypass Surgery, Heart Attack, Stroke. The are 22 other illness that are usually included, but the above 4 should be included in every Critical Illness Insurance policy.
Everyone knows what a disability is, but in this case, Disability Insurance ensures that if an individual cannot work, for whatever reason, they will still have an income to draw from.
Feel free to call or email me to discuss how we can ensure that you and your loved ones will not endure any financial hardship.
Tyler Brown – Financial Security Advisor
CP: (519) 212-9859
FX: (519) 489-2740
244 Woolwich St. South, Unit #1 ~ P.O. Box 261 Breslau, ON ~ N0B 1M0