As a business owner, you understand that your business is key to supporting the lifestyle you enjoy today and your plans for the future. But these plans could be affected by a life-altering illness, such as cancer, heart attack or stroke.
Consider this: Research shows that one in 2.2 men and one in 2.4 women in Canada will develop cancer in their lifetime. How would your business respond if you or one of your top employees developed such a life-altering illness?
The good news is that, thanks to new developments in medicine, more people than ever before are surviving these critical illnesses. Nevertheless, it’s crucial that you and your business are prepared for the financial effects of a life-altering illness and that starts with critical illness insurance.
Critical illness insurance can help your business by allowing you to recover on your terms while your business continues to run.
Critical illness insurance can help your business by allowing you to recover on your terms while your business continues to run.
If you experience a covered critical illness, you’ll receive a tax-free lump sum payment. You can use that money any way you choose – you could use it to supplement your income while you recover; cover debt repayment obligations or pay employee salaries; access out-of-country medical treatment; cover travel costs or take some time with your family. It’s up to you.
As Canadians, we’re proud of the government-funded healthcare system. But provincial healthcare plans don’t always cover the cost of all medications, medical devices or treatments. Critical illness insurance can help with that.
Critical illness insurance can help you keep your retirement plans on track. Without it, you might have to take money from your investments to pay for medical expenses, maintain your family’s lifestyle and keep your business going. If that’s the case, you might have to delay or change your retirement plans.
