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Services
> Critical Illness Insurance BC |
Critical Illness Insurance BC
Critical Illness Insurance is designed to provide assistance to an
insured who has been diagnosed with one of a predetermined number
of critical illnesses and in some cases survived 30 days.
Critical Illness cover a varied number of illnesses between three
(cancer, heart attack, stroke) and 22 (i.e. MS, Alzheimer's, Parkinson's,
ALS, blindness, deafness, loss of speech, coma, severe burns, late
onset diabetes, loss of independence.)
The benefit is typically payable 30 days after diagnosis according
to definitions in the contract. It is thus vital to analyze contracts
not only based on number of covered conditions but on the definitions
of those conditions.
The funds can be used for anything the insured chooses including accessing
US healthcare, paying off mortgage, hiring a nanny and help during
treatment etc.
Premium structures vary between 10 year increasing term to level premiums
to age 75 and level for life. Most contracts have a built-in provision
to refund all paid premiums to the insured's beneficiary in the event
of death by any cause.
The insured also often has the choice to pay an extra charge and receive
a full refund of all premiums paid at a predetermined point if no
claims have occurred.
Most Critical Illness products offer access to the Best Doctors service
on all their critical illness products. This service provides the
client with access to a service that directs them to the top North
American doctors based on their illness and books them in at reduced
cost for appropriate treatment
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