The relationship between your personal health and financial wellbeing go hand-in-hand. Life altering illnesses are costly. Paying for treatment and everything else in your life while losing your income can debilitate your finances. To put in perspective, 35% of cancer survivors continue to live with chronic pain that limits their day-to-day life or work activities[1], and in Canada, they earn 10% less than before their diagnosis[2]. And there are more serious illnesses than just cancer. Over 100,000 Canadians will have a stroke or heart attack this year[3][4]. However, there is a solution to manage your risk of a sudden change of health in the form of life insurance. The solution is called Critical Illness Insurance.

Critical Illness insurance is a lump sum of money delivered if you’re effected by a heart attack, a stroke, cancer, organ transplant, coronary bypass, and more. It’s one of the only forms of life insurance that directly benefits you while you are still alive, and arguably one of the most important.

Nobody plans to get cancer in their prime working years, yet over 220,000 Canadians are diagnosed each year[5]. Nobody plans to have a stroke on their way home from work. Yet 50,000 Canadians will have a stroke for the first time in 2024. When critical illnesses happen, it’s never expected, but failing to plan for the unexpected is a form of negligence.

You’re a high-value member of society. You take all the precautions and necessary steps to perform at the highest level for your family and your community. Don’t let a sudden and unforeseen sickness or disease derail and change you and your family’s lifetime goals. Get critical illness insurance to be sure that if you’re knocked down and at your lowest, you’re able to pick yourself up again and go right back to where you were headed…because you planned for it.

 

Sources:

  1. https://jamanetwork.com/journals/jamaoncology/article-abstract/2736363
  2. https://healthydebate.ca/2023/12/topic/financial-toxicity-cancer-poverty/#:~:text=This%20is%20at%20a%20time,pay%20health%2Dcare%20related%20expenses
  3. https://www.canada.ca/content/dam/phac-aspc/documents/services/publications/diseases-conditions/heart-disease-fact-sheet/heart-disease-factsheet-eng.pdf
  4. https://www.ontariostrokenetwork.ca/pdf/Final_Fact_Sheet_Stroke_Stats_3.pdf stroke
  5. https://www.canada.ca/en/public-health/services/reports-publications/health-promotion-chronic-disease-prevention-canada-research-policy-practice/vol-41-no-11-2021/canadian-cancer-statistics-2021.html