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A new and very interesting policy called Critical Illness Insurance is recently available. Whereas life insurance has been readily available for literally hundreds of years, critical illness insurance is a relatively recent development. Canadians can now receive financial protection during the emotional time of a diagnosis of a life threatening illness, such as cancer, heart attack, stroke or permanent disability.

Critical Illness Insurance will pay a lump sum 30 days after you are diagnosed with a life threatening illness and are still alive, such as heart attack, stroke, or cancer. Many people recover from these critical illnesses but not until they have gone through considerable emotional and health problems that causes significant financial stress. The premiums are lower than for disability insurance and the amount you purchase is not as limited by your income as disability insurance.

The proceeds can be extremely useful for adapting to a new lifestyle caused by a critical illness, also once can begin helping support the family financially. You now may have the option to have treatment in the United States, reduce your financial concerns so a healthy spouse can devote more time to caring. Perhaps the money could go towards paying off a mortgage or towards extended recovery.

Who do you know who has had a:

Heart Attack	Other life threatening cancer
Stroke	Multiple Sclerosis
Coronary Bypass Surgery	Parkinson’s disease
Breast Cancer	Major Organ Transplant
Prostate Cancer	Other life threatening illnesses

What do you think, would a lump sum of money have done for their financial and emotional Peace of Mind?

Get A Lump Sum Tax Free Now, If You Get A Critical Illness.

Over the past 25 years, higher levels of stress in our daily lives have contributed to an increase of almost 55% in disability resulting from heart disease, hypertension, stroke and diabetes. However, due to advances in medical science, premature deaths have decreased significantly. What this means is that more people who suffer from major illnesses (such as heart attacks, strokes, and cancer) are able to survive the initial attack and continue to live for quite some time.

None of us like to think about the likelihood of ourselves or one of our loved ones suffering from a critical illness, but the statistics show that it is a possibility with which we must come to terms.

Almost everyone has a relative or friend who has suffered from a major, possibly fatal, illness. It is a sad truth. Protect yourself and your family. The numbers, speak for themselves:

Critical Illness Statistics

Insure against Heart Attack (From the Heart and Stroke Foundation)

• 1 in 4 Canadians will contract some form of heart disease.
• 75,000 Canadians suffer heart attacks each year.
• Heart disease costs the Canadian economy approximately $19 billion every year in medical services, hospitalization expenses, loss of income and loss of productivity.
• The rate of death among patients hospitalized for heart attacks has been decreased by half, from 16 per cent to 8 per cent.
• 1 in 2 heart attack victims are under the age of 65.

Insure against Stroke (From the Heart and Stroke Foundation)

• 50,000 Canadians suffer a stroke each year.
• 75% survive the initial event.
• Strokes are the leading cause of neurological disability.
• 1/3 of stroke victims are under the age of 65.
• 60% of stroke victims will be left with a disability.

Insure against Cancer (From the Canadian Cancer Society)

• More than 130,000 Canadians will be diagnosed with cancer this year.
• Over 60,000 people in Canada will die this year from the disease.
• 1 in 3 Canadians will develop cancer in their lifetime.
• 1 in 9 women will develop breast cancer.
• 1 in 3 women and 1 in 2.5 men will develop cancer in their lifetime.

Insure against Coronary Artery Bypass Surgery (From the Heart and Stroke Foundation of Ontario/Canada)

• Bypass surgery is performed more on men than women by a ratio of nearly 4 to 1
• There are approximately 11,000 bypass surgeries performed in Canada each year.
• The rate at which bypass surgery is performed on people age 65 and older has increased.

Insure against Multiple Sclerosis (From the Multiple Sclerosis Society of Canada)

• More than 50,000 Canadians have Multiple Sclerosis
• MS is the most common neurological disease among young Canadians
• Canadians have one of the highest rates of MS in the world.
• Women are twice as likely to develop MS as men

Insure against Parkinson’s Disease (From the Parkinson’s Foundation of Canada)

• 30% of all Parkinson’s patients are under 50
• 20% of all Parkinson’s patients are under 40
• there are approximately 80,000 – 100,000 Canadians suffering from Parkinson’s

Insure against Paralysis (From the National Spinal Cord Injury Association of Canada)

• There is an estimated 900 Canadians who sustain a spinal cord injury each year
• More than 30,000 Canadians suffer from paralysis of 2 or more limbs
• Most persons who suffer spinal cord injury are between 16 and 30 years of age
• The most common causes of spinal cord injury are car collisions and falls

Insure against Alzheimer’s Disease (From the Canadian Alzheimer Society)

• Alzheimer Disease is the fourth leading cause of death in Canada
• Every year approximately 10,000 Canadians die from Alzheimer’s
• Approximately 1 in 100 Canadians suffer from Alzheimer’s disease
• There are approximately 22,000 people in Metro Toronto with Alzheimer’s
• The disease occurs in 8% of the general population over 60

Insure against Kidney Failure (From the Kidney Foundation of Canada)

• Kidney disease ranks sixth among diseases causing death in Canada
• Each day an average of 8 Canadians learn that their kidneys have failed
• Approximately 2000 Canadians are on a waiting list for kidney transplant
• 351 kidney transplants were performed in Ontario in 1995
• 1 in 10 will develop kidney stones at some point in their lives

Insure against Deafness (From the Canadian Hearing Society)

• 280,000 Canadians are deaf
• 1,120,000 Canadians are hard of hearing
• 1,400,000 do not use amplification
• There are more than 2,800,000 Canadians with hearing loss

Insure against Occupational HIV (From the Canadian Aids Society)

• Approximately 4.4 million health care workers suffer 800,000 needle sticks and other injuries from sharp objects annually
• An estimated 16,000 of these objects are contaminated with HIV

The Missing Piece

Will this happen to you? Probably not, but you should at least make an informed decision about how to financially protect yourself. Consequently, one requirement of a complete financial plan that many do not consider is to protect you against an unexpected illness. Disability Insurance is one solution but many people do not have adequate disability insurance. Critical Illness Insurance is available to most people who can qualify for life insurance but may not qualify for sufficient disability insurance. It will help you get on with the business of living.

Depending on your unique financial situation and health concerns, amounts ranging from $25,000 and up can be purchased. It covers you for stroke, heart attack, paralysis, kidney failure, blindness, major organ transplant, coronary bypass, multiple sclerosis, life threatening cancer and deafness. The benefits are paid in a tax-free lump sum payment upon the first occurrence of any of the above listed covered events, as outlined in the policy.

It has been found that this product appeals even more to two types of people. First, single people who do not have any need for life insurance but want to ensure their independence. Second, those who want to have extra funds to enable them to take advantage of medical services outside the province or have additional funds for living should the need arise.

Many business owners will return to work within three months from most injuries or simple illnesses and would not collect much on a disability insurance policy. It is the critical illnesses that keep them off the job for more than three months and all the money is paid out after 30 days.

As the business grows and increases in value, you may want to consider either disability buyout insurance or critical illness insurance on each partner/shareholder so that if one becomes disabled and can not contribute to the company for a year or more there will be funds available to buy out their interest in the company.

Few companies can carry an ill partner for an extended period of time – you need an exit strategy. Ensure that the conditions are set out in a shareholder or partnership agreement and that the funds to make it happen will be there through insurance. It is an excellent way to get the company to pay for some critical illness insurance.

Finally, ensure that if you have insurance owned and paid for by your company, you have checked the tax implications with your accountant. When seeking advice on insurance, consult a well recognized insurance professional by contacting the Delsan Group.

Supplement Your Health Insurance Plan with Critical Illness Insurance

You have health insurance to take care of hospital bills, dental insurance to care for your teeth and possibly disability insurance to pay a monthly benefit if you are unable to work.

Critical Illness Insurance supplements your health insurance by paying you a lump sum if you contract and survive a serious illness. You can imagine the financial impact of contacting a serious illness and being unable to work for a long period of time. There could be lost income, hospital bills, medications and more bills. Critical Illness insurance minimizes or eliminates the financial impact of a serious illness. You can use the payment any way you wish as it is your tax free money.

Having Health Insurance and Critical Illness Insurance is vital to protect yourself from unexpected financial loss due to illness. There are a wide range of Canadian insurance companies who offer a critical illness policy . The terms and conditions will vary from company to company, but the following ailments are insurable by almost all insurers (Base Coverage):

Heart Attack	Stroke
Coronary Bypass Surgery	Breast Cancer
Prostate Cancer	Other life threatening cancer

In Addition, the following conditions are insured, (With Enhanced Coverage) depending on which insurance company is chosen:

Multiple Sclerosis	Parkinson’s Disease
Kidney Failure	Paralysis/Paraplegia
Major Organ Transplant	Severe Burns
Aorta Graft Surgery	Balloon Angioplasty
Benign Brain Tumor	Blindness in both eyes
Coma	Coronary Artery Disease
Heart Valve Surgery	HIV through Blood Transfusion
Pre Senile Dementia (Alzheimer’s)	HIV Medical Profession
HIV Assault with Needle	Loss of Hearing
Loss of Independent Existence	Loss of Limb
Loss of Speech	Motor Neuron Disease

Types of Policies

There are Three Basic Types of Critical Illness Insurance

• Lump Sum Payment: This is the traditional type of critical illness insurance where one typically gets a lump sum payment 30 days after the diagnosis of a covered illness. These funds can then be used to pay for treatment outside the country or any other purpose you choose

• Medical Treatment Only: One company now offers $1 million to cover the cost of medical treatment anywhere in the world. Once a critical illness is diagnosed, you get in touch with “Best Doctors Inc.” and they will provide you and your doctor with their recommendation on what medical treatment would be best for your illness wherever that is offered in the world. The policy will pay for the “best doctors Inc.” opinion and then up to $1million for this treatment wherever in the world it is offered. There is also an allowance for family travel and expenses. If you choose to stay in Canada for the treatment, it pays out $25.000. The premiums are very reasonable (family of four with parents in their early 40’s) would be about $125 to $150 per month. However, there are some limitations to this policy and you need to review it carefully before deciding which would be best. I can help you with this review.

• Lump Sum Payment and $1 million for Medical Treatment: Companies now offers the traditional Critical Illness coverage at competitive rates plus a rider you can purchase which covers the $1 million if you and the doctors feel you would benefit by going outside the country for treatment.

Options and Riders

• Return of Premium: Upon death, most policies will return all premiums to your beneficiary as part of the policy – no additional charge

• Pay Back of Premium Rider: Many policies offer this option on the policies that have a level premium to age 65, 70 or 75. For an extra premium, if you do not have a claim, you will get all your premiums back at the policy ending age 65, 70 or 75, depending on the insurance company and policy purchased.

• Children’s Rider: Coverage is offered to children ages 2-17 and, in some cases for children that you have in the future starting at birth. It will pay a lump sum, usually $25,000 on the diagnosis of a critical illness and the one premium frequently covers all children in the family.

Basic Policy Time Frames

• Ten Year Renewable Term: Similar to ten year renewable term life insurance. Rates are guaranteed in the policy but they do go up every ten years until the policy ends at age 65, 70 or 75. Generally useful if the need is limited to 15 years or less. One use is to provide cash to complete retirement plan should the insured become ill.

• Level to Age 65 – 70 – 75: The policy lasts to the age given and the premiums remain the same throughout this time period. Take in consideration. Clearly the greatest likelihood of claim is between age 65 and 75 so policies with the longer term, will cost a little more, but could be worth the extra cost. This is an important area

• Permanent or To Age 100: These ones are designed to last a life time so the chances of collecting are high as so is the premium. Also, be careful that at age 100 the policy is still in place. While this has some benefits, if money is short, one should look at getting the coverage to age 75.

As not all critical illness policies are the same, it is important to seek out professional advice and guidance in choosing your policy. Contact the Delsan Group for a free consultation.

Our associate specialists in critical illness coverage can work with you to arrange an appropriate plan with the lowest premiums in the country. We have direct contact with most of the top insurance companies in Canada. As independent insurance brokers, we can shop all available insurance providers. Let them compete for your business, and in the process get the best quality at the lowest price.

If you are in Quebec, email us at broker@delsangroup.com with your date of birth, sex, smoker or non, and amount you would like us to quote on and we will get back to you.

Introducing Manulife Financial Lifecheque Basic

Brief Overview

• Pays $25,000 to $2,000,000 depending on the plan you choose, in a lump sum 30 days following a diagnosis of cancer, heart attack or stroke, or coronary bypass or aortic surgery.
• Spend the money however you wish. It is your money.
• Return of Premium Option. Purchase the plan with the option (between the ages of 18 and 55) and reach your 75th birthday without a claim and Manulife Financial will reimburse all your premiums (some conditions apply).
• You are eligible if you are a Canadian between the ages of 18 and 60 years. You are covered until you reach age 75.
• Inexpensive. For example, a 25 year old male non-smoker can begin the plan for $25,000 of coverage at $6.00 per month. With a return of premium option the rate increases to $6.50. One of the lowest premiums you can find for individuals under age 50.
• Includes Best Doctors Solutions Services
• No medical questionnaire required, only a declaration of good health
• Premiums are based on age, gender, and smoking status. Premiums will not increase within your first five years.
• Non-smokers’ premiums can be up to 50% lower than smoker premiums.

Manulife’s Lifecheque Critical Illness Insurance

The basic plan covers five common life changing illnesses and conditions:

• Cancer
• Heart Attack
• Stroke
• Coronary bypass surgery
• Aortic surgery

Or you can choose the enhanced Critical Illness Insurance which covers around 24 illnesses, contact the Delsan Group for a full consultation on Critical Illness insurance

Standard Life’s Protecta Critical Illness InsuranceThe basic plan covers four common life changing illnesses and conditions:

• Cancer
• Heart Attack
• Stroke
• Coronary bypass surgery

Or you can choose the enhanced Critical Illness Insurance which covers around 24 illnesses, contact the Delsan Group for a full consultation on Critical Illness insurance.

Both of the above-mentioned offer on top of the lump sum also the services of best doctors inc. for advice and help in finding a good doctor and good facility etc. and to answer your questions etc., Standard life also offers Sigma Assist, which will also get you help and info, on legal assistance, Psychological assistance, Convalescence assistance etc.

If you are in Quebec, email us at broker@delsangroup.com with your date of birth, sex, smoker or non, and amount you would like us to quote on and we will get back to you.

Delsan Group is there for you, to serve your needs in financial services, financial security and advice.

For more information, contact the Delsan Group.