Critical Illness Insurance Canada, as the name suggests, is a type of coverage you shall need in the case of critical medical conditions. A standard medical care coverage does not normally cover critical conditions like heart attack, stroke, cancer, organ transplant, etc. And this is when critical health insurance comes handy.
Standard medical insurance fails to cover critical medical situations as your coverage amount is less, which can be a big strain on your savings. Therefore, insurance companies now offer critical health conditions insurance that gives you an extra back up against your normal policies.
Why is it important?
A critical illness plan will cover all medical services that are usually not available with other plans. This gives you an option for treatments without worrying about financial stress or using up all your savings.
The coverage pay is normally offered to you in a lump sum. This means you can use this money to pay your medical bills as well as for your daily expenses like groceries, utilities, transportation, etc.
The policy also covers all the expenses you will need for post-surgery care like staying in a peaceful place for recuperating or attending rehabilitation centers for gaining your physical strength.
Finally, in the case of terminally ill patients, they can also use the amount received for a vacation with family and friends to relax and rejuvenate.
Since medical bills have become a common concern for financial stress and bankruptcy, it is a safer option to get yourself insured. You just need to consult a professional insurance broker about the best policies that can help you with all kinds of future situations. In regards, to critical illness insurance broker Toronto, it is a wise option to invest some money today to avoid any heart-breaking expenses tomorrow. Stay safe, stay insured.