Despite medical advances, critical illness is still common. Because of these advances, more people survive critical illness. However, increased survival rates also often lead to increased financial burdens.
If you are unable to work due to a critical illness, you could quickly find yourself struggling financially.
How will you pay for homecare or therapy? Childcare or educations costs? Will you need treatment outside of Canada? Will your partner need to take time off work to care for you? Will you have to dip into your retirement savings? Sell your house?
With the CAA Critical Illness Plan, you may qualify to receive a one-time, lump sum benefit of $25,000 – paid directly to you, to spend however you wish – if you have been diagnosed with a covered condition. Click here to see what's covered
.The critical difference.
Unlike life insurance, the CAA Critical Illness benefit amount is paid directly to you rather than a beneficiary. Unlike disability insurance that will pay you monthly while disabled, the CAA Critical Illness Plan is paid out once in a lump sum. You can then use this benefit amount to replace lost income, help pay for treatment, meet living expenses or however else you wish.No medical questionnaire.
Best of all, completion of a medical questionnaire is not required. A declaration of your good health is all that’s needed. Once covered, you can keep the CAA Critical Illness coverage up to age 75, regardless of any changes in your health. Even if your health declines, your coverage will not be terminated, as long as your premiums are paid.For CAA Members.
You must be a CAA Member or the spouse of a CAA Member, resident in Canada, and at least age 18 but not over age 60 to apply.
Consider this Plan if you want to sustain your family’s quality of life in case of a serious illness. After all, you should be focusing on recovery, not on how long it might take to go through your life’s savings.
Next step: Why you should consider it