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What is critical illness insurance?

Critical illness insurance provides a lump sum payment if you are diagnosed with a serious illness that is covered in the policy. This allows you to protect your family’s finances and lifestyle, even if you are unable to earn an income.

Critical illness insurance can be a sound investment at any point but you may want to consider it most during your key earning years because that is the time when a temporary or permanent loss of income would potentially have the greatest impact on your lifestyle.

If you are diagnosed with a covered critical illness, you can use the cash benefit to:

  • Cover immediate living expenses
  • Replace lost income
  • Pay for medical treatments or other expenses related to your recovery
  • Save for the future

 

More than 50,000 strokes and 70,000 heart attacks occur in Canada every year.1

Product overview

LifeCare critical illness insurance

Lifecare2 is a critical illness product that will protect you, your family or your business from the financial impact of an unexpected critical illness.

LifeCare will pay a lump sum, tax-free benefit to you to help you recover from your critical illness without any unnecessary financial worries.

There are two LifeCare plans available:

  1. LifeCare T10: Provides critical illness protection for terms of 10 years and is renewable to age 75.
  2. LifeCare T75: Offers ongoing critical illness protection and level premiums up to age 75.

If your life unexpectedly changes due to a critical illness, you’ll have a lot to think about. But LifeCare will help ease your worries about the financial impact of your condition so that you and your family can focus on your recovery.

1 Source: Heart and Stroke Foundation of Canada, heartandstroke.com, February 2015.
2 Underwritten by Foresters Life Insurance Company.
3 This program is provided exclusively by Advance Medical, Inc. subject to eligibility requirements and limitations and may be changed or cancelled at any time without notice. This program is not part of the LifeCare policy.

412598 CAN (10/16)

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