Disability Insurance
Disability insurance is designed to replace a portion of your income if you become disabled and are unable to earn an income. A disability can result from a number of causes, including an injury, a serious illness or a mental health issue. And the duration of a disability can be either short- or long-term.
There are different kinds of disability insurance coverage, including individual insurance plans and group insurance plans, as well as government plans such as workers’ compensation and benefits provided under the Canada Pension Plan.
Critical Illness Insurance
Medical advances have dramatically improved survival rates of people suffering from critical illnesses such as cancer, stroke and heart disease. Recovery may come with a significant financial cost that impacts both you and the people close to you.
Critical illness insurance helps pay the costs associated with life-altering illnesses. If you become sick with an illness covered by your policy, you’ll receive a lump-sum cash payment. Unlike reimbursed health insurance, you decide how to spend the money
Long-term Care Insurance
Long term care insurance provides an income benefit if you become unable to care for yourself due to aging, an accident, illness or deteriorated mental abilities. The money is to be used as you wish, giving you more control and choice while helping to protect your savings and income.
Now, more then ever, the need for long-term care has been made apparent. Nursing homes were hit hard by the first Covid-19 wave, exposing their inadequate care, lack of proper staffing and hygiene.
Long-term care coverage could provide the possibility and choice of staying in the comfort of your own home and retaining the lifestyle you are accustomed to while receiving the care you require.