CRITICAL ILLNESS INSURANCE

Important news for Self-Employed Individuals Have you considered Critical Illness Insurance?  It is often an excellent choice for people who are self-employed.  Disability Insurance is also very valuable - in fact, ideally you would have both coverages - but Critical Illness Insurance offers additional benefits.

• Provable Income: Disability Insurance requires you to prove your income - you will usually be asked for two years' worth of returns.  Critical Illness Insurance does not require you to prove your income - to receive coverage you need only pay the premiums.
• Payout Limits: In the event of a claim, Disability Insurance providers will generally pay no more than two-thirds of your income.  With Critical Illness Insurance, however, you can choose the amount for which you're covered.
• Payout Promptness: There is often a waiting period of several months before a Disability Insurance claim is paid out.  With a Critical Illness policy, you receive a lump sum only thirty days after diagnosis.
• Premiums refunded: If you pay into a Disability Insurance policy for 25 years and never make a claim, the money you paid in the form of premiums is the provider's to keep. With a Critical Illness Insurance Policy, on the other hand, you have the unique option of getting all your premiums back at the end of the term if you don't make a claim.

In addition, this coverage offers a number of unique options that are available only in Canada. I personally use Critical Illness insurance, and in my opinion it's an excellent deal.  This product is currently underpriced - I recommend that all interested clients contact me as soon as possible to set up Critical Illness insurance before the companies providing it start raising the rates or eliminating some of the excellent options!

What Illnesses/Conditions Does it Cover? Critical Illness Insurance typically covers diseases and illnesses such as:

• Alzheimer's
• blindness
• cancer
• heart attack
• heart bypass surgery
• kidney failure
• multiple sclerosis
• organ transplants
• paralysis
• stroke

Please note that you cannot purchase coverage for a pre-existing condition.

Why Should I Buy This Coverage? Are you 100 per cent certain that your savings or other sources of income will fully provide for you and your family in the event that you suffer an unexpected serious illness?  If you are NOT 100 per certain, you should have Critical Illness Insurance.  Upon claim payout (which is usually only 30 days from diagnosis), you will receive a lump sum payment according to your coverage level, which can be used as you see fit.

You can apply this lump sum to any debts or financial obligations.  A few examples might be:

• mortgage payments
• your child's tuition
• home renovations
• other insurance premiums
• vehicle payments

Get Covered - At Virtually NO Cost It gets even better.  You can obtain coverage for next to nothing.  You may be skeptical, but I assure you that it is very possible.  This approach will work in most cases - we will examine your particular situation and determine the best course for you.

Simply contact me to find out how you can receive Critical Illness Insurance coverage at virtually no cost.  There is no charge for our initial consultation - in fact, I will draw up a FREE draft plan after our meeting.

Sincerely,


Brian Poncelet, CFP
(905) 338-7689 (24hrs)
brian@rightinsurance.ca

***Owing to limited resources and time commitment, only people with family incomes of $110,000 or more should call.  (OR $60,000 in RRSPs)