Living Benefits protect your greatest asset – your ability to earn an income.

Living Benefits include:

• Critical Illness Insurance
• Income Replacement/Disability Insurance
• Long Term Care

Critical Illness Insurance

Nobody expects to get sick, but we all know people who have been diagnosed with a serious illness. With the advancement of technology and medicine, most people survive a critical illness and continue on with their lives. However, there is a real cost to getting sick, one that is not covered by OHIP. For every person who gets sick there is another person who has to take time from their job to go to appointments, play healthcare provider and still run a household. Critical Illness Insurance provides a lump sum tax free 30 days after being diagnosed with one of 25 conditions, including:

• Life Threatening Cancer
• Kidney Failure
• Heart Attack
• Coronary Bypass Surgery
• Stroke
• Benign Brain Tumor
• Multiple Sclerosis
• Major Organ Transplant
• Alzheimer’s disease
• Occupational HIV
• Parkinson’s disease
• Loss of Independent Existence

There is also an option to receive 100% of your premium back if you don’t make a claim.

Income Replacement/Disability Insurance

Disability insurance or income replacement insurance is an essential part of a financial plan. By protecting your ability to earn an income, you provide security in case you are unable to work due to an illness or injury.

Disability insurance pays you a monthly income if you are not able to do your regular occupation as a result of an illness or injury. After a waiting period of 30, 60, 90 days or more your benefit will begin to be paid out tax free and continue as long as you are disabled to age 65. The monthly benefit is directly proportionate to your income. The premium is guaranteed never to change. Once a policy is issued, the insurance company can’t make changes to the contract or ask any additional medical questions.

These policies contain benefits for total disability, residual disability, and recurrent disability along with options to receive money back if you remain healthy.

Long Term Care

The good news is that people are living longer. The bad news is that many of these people will need some sort of long term care assistance and the cost of this care could be substantial.

The solution is a Long Term Care insurance policy that provides a tax free daily benefit if you lose the ability to care for yourself. Whether you are entering into a long term care facility or choose to receive private nursing care in your home, you can continue to live with dignity and not worry about being a financial burden to your family.