Shielding Futures: Critical Illness Insurance Coverage Explained

The saddest part of being an adult is that we understand how uncertain our life is! We spend so much time earning money or hard work to secure our future lives, but is there any security at all? We don’t know whether we will see the next morning or spend the next weekend with our loved ones; we really don’t! Our life is so uncertain that it will be stupidity if there is no backup plan for our family. 

For example, nowadays, many people suffer from life-threatening diseases, and the medical cost is so expensive. It’s almost impossible for us to cover the medical costs and maintain quality lifestyles. That’s why many are eager to know about the critical illness insurance cover in Alberta to safeguard their families during the time of emergency. Read this article to learn more about this amazing insurance coverage. 

What is Critical Illness Insurance?

If an individual is diagnosed with a critical illness, the insurance company will provide a non-taxable lump sum amount of money to manage the extra cost associated with the illness so the individual can maintain his/her lifestyle. You may use critical illness insurance to cover the following,

• Home renovations
• Debt elimination
• Out of Country health care
• hospital waiting lists
• Long term care
• Supplemental monthly income
• Non-insured health expenses
• Offset lost income

What Types of Illness Does It Cover?

This unique insurance policy covers several life-threatening diseases, including, 

• Stroke
• Parkinson’s Disease
• Life Threatening Cancer
• Paralysis
• Heart Attack
• Lou Gehrig’s Disease
• Coronary Artery Bypass Surgery
• Loss of Speech
• Multiple Sclerosis
• Blindness
• Major Organ Transplant
• Renal Failure
• Coma
• Major Burns
• Alzheimer’s Disease
• Deafness

But remember that everybody talks about what the policy covers, but they don’t mention what this policy excludes. If you have any particular pre-existing conditions, then critical illness insurance cover in Alberta is not right option for you. Therefore, it would be best to check the conditions on the documents before buying the policy from your insurer. 

Can Anyone Get Critical Illness Coverage?

If you don’t have particular pre-existing conditions and are under 66 years of age, then you are eligible for this policy. One thing to remember, you must be in good health. Critical illness coverage provides a tax-free lump sum for medical expenses and lost wages. It offers peace of mind during recovery, ensuring financial protection for unexpected health challenges. 

Get in touch with Us!

Secure your peace of mind today with critical illness coverage. Take a step towards financial protection during unexpected health challenges—get covered now. To learn more about critical illness insurance cover areas, call us at Hope Insurance Broker in Alberta!