Insure Your Life with Best Critical Illness Insurance Provider
According to research, approx. 233,900 Canadians suffered from cancer in 2022, and nearly 14,000 Canadians die due to stroke every year. Though cancer is a highly life-threatening disease, it can be treated if diagnosed in the beginning. But the medical treatment is so expensive that individuals may be unable to bear the cost alone.
Here comes the importance of a critical illness insurance policy covering most expenses. Since there are so many insurance policies, it would be best to compare them first and choose the best critical illness provider in Mississauga.
What is Critical Illness Insurance?
Critical illnesses are those life-threatening illnesses that significantly affect our everyday lives. Thanks to advanced medical effort, most critical illnesses are now treatable but come with substantial costs that lower an individual’s lifestyle choices and financial security. To help you with that, there are various types of critical illness insurance by providing a lump sum payment. Remember that it is tax-free, and the receiver can use it as they wish.
What Does Critical Illness Cover?
Before purchasing the critical illness policy, you must know which conditions and illness the policy cover. With so many insurance policies, you should first research the coverage to contact the best critical illness provider in Mississauga. Though the coverage differs from policy to policy, usually, most policy covers the following illness,
- Heart attack
- Cancer
- Organ transplants
- Kidney failure
- Stroke
- Blindness
- Paralysis
- Dementia
- Multiple sclerosis
Before purchasing the policy, ask the insurer whether they provide coverage for some chronic conditions like asthma and pre-existing conditions related to drug use. In that case, some critical illness policies require a medical exam to decide.
What Factors to Consider During Buying Critical Illness Insurance Policy?
You should consider the following factors to get a better experience related to the illness insurance policy. You should check whether the policy is designed with simplified options. For example, the best critical illness provider provides online options to approve the policies easily and instantly.
Usually, most critical illness policies cover more than 25 illnesses, but some cover only 16 critical illnesses. Some policies even cover only one type of illness, like cancer. Therefore, you check which policy will fulfill your requirements and choose the best policy accordingly.
In addition, there are other factors like a survival period of 30 days that most insurance providers offer, partial coverage, coverage for children and most importantly, the coverage amount. The best critical illness provider offer coverage ranging from $10,000 to millions.
How Can You Get Benefit from Critical Illness Insurance Policy?
Unlike life insurance and disability insurance, critical illness insurance is not that popular in Canada, but research have shown that almost 33.7% or one in three Canadian adults suffer from any type of critical illness these days. You will get the following benefits if you purchase the policy from the best critical illness provider in Mississauga.
- You can save your hard-earned money.
- You will get peace of mind knowing the policy will cover all the medical expenses.
- You can save a lump sum amount for your retirement and future.
- Canadian citizens, permanent residents and immigrants who have stayed in Canada for more than 12 months can apply for this incredible policy.
What to Do If You Don’t Experience a Critical Illness?
You don’t have any life-threatening disease- that’s incredible news. In that case, you can include a return-of-premium benefit to your insurance policy. You can get your money back if you don’t experience any illness even after 10 years. When you choose the option, the policy will expire. To know more about it, contact the best critical illness provider.
Life is Priceless, Get Insured!
The coverage and limit of critical insurance policies vary for various reasons, including your age, income, etc. This policy does not just pay your medical expense but also give you peace of mind. If you want to get protected financially from medical costs, contact the best critical illness provider, ADI & ADI FINANCIAL in Mississauga.