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Why Your Health Plan Should Include Critical Illness Insurance

February 20 2023


Most people consider health insurance to be the foundation of their financial security. After all, when it comes to protecting ourselves and our families from the costs associated with medical care, there is no better investment than health insurance. But what about critical illnesses? The reality is all too often. Individuals are unprepared for the financial burden that comes with an unexpected diagnosis. While health insurance will cover some of the associated costs, there is still a possibility that you could be left with huge medical expenses after your coverage runs out. That's why it's essential to supplement your healthcare plan with critical illness insurance. In this blog post, we'll explain why this type of coverage is essential and how it can help protect you and your family in the event of a serious illness. Visit InsLyf for any Critical Illnesses Insurance related queries in Ontario!

The Importance of Critical Illness Insurance

Critical illness insurance is a type of insurance that can help cover the costs associated with a serious illness. While most health insurance plans will cover some of the costs associated with a critical illness, they may not cover all of them. This is where critical illness insurance can help.

Critical illness insurance can help to cover the costs of treatment, as well as any lost income if you are unable to work. It can also help to cover the cost of long-term care if you need it. In some cases, it can even pay for experimental treatments that are not covered by your regular health insurance plan.

 While no one wants to think about getting sick, it's important to have a plan in place in case something does happen. Critical illness insurance can give you peace of mind and help make sure that you and your family are taken care of financially if something happens to you. Contact InsLyf Brokerage today!

What Does Critical Illness Insurance Cover?

Critical illness insurance is a type of supplemental health insurance that helps pay for out-of-pocket expenses associated with a serious covered illness, such as cancer, heart attack, or stroke. Benefits can be used to help cover costs such as deductibles, copayments, and coinsurance, as well as other expenses like travel and lodging for treatment. Critical illness insurance can be purchased as an individual policy or as part of a group health insurance plan.

How Much Does Critical Illness Insurance Cost?

Critical illness insurance policies vary in cost based on factors such as the age and health of the policyholder, the amount of coverage, and the deductible. However, most critical illness insurance policies have a monthly premium of around $10-$50.

 Age 36-40. ~$9.50/month

 Age 41-45. ~$12.50/month

 Age 46-50. ~$17.50/month

 Age 51-55. ~$26.50/month

How to Get Critical Illness Insurance in GTA

If you're like most people, you probably have some form of health insurance. But what happens if you get seriously ill and need expensive treatment? That's where critical illness insurance comes in.

Critical illness insurance is designed to help pay for the costs of treatment if you are diagnosed with a serious illness. It can help cover things like medical bills, lost income, and even childcare expenses.

Getting critical illness insurance in GTA is easy. There are a number of companies that offer this type of coverage, so you should be able to find a policy that fits your needs and budget.

When shopping for critical illness insurance, be sure to compare policies from different companies. You'll want to make sure that the policy covers the illnesses that are most likely to affect you and that it has a reasonable premium.

Once you've found a policy you're happy with, all you need to do is sign up and pay the premiums. Your coverage will then kick in if you ever need it.

How InsLyf Brokerage can help!

We can help you compare critical illness insurance policies from a variety of insurers and find the one that's right for you. We'll also be there to help you make claims if you ever need to use your policy. InsLyf Brokerage can help by providing a critical illness insurance policy that will pay out a lump sum if the policyholder is diagnosed with a covered condition. This money can be used to cover medical expenses, lost income, and other associated costs.

Critical illness insurance can be a vital safety net for yourself and your family. If you're not already covered, contact InsLyf Brokerage today to find out more about how we can help.