We have been receiving more and more inquiries regarding insurance covering the occurrence of a life threatening illness.  There is just such coverage called Critical Illness Insurance. This type of insurance is designed to pay a tax free lump sum of cash on the diagnosis of a life threatening illness such as heart attack, stroke or cancer.

Most people want to know the true financial effect of such an event and the linked article below gives a good viewpoint referring to studies done by the Canadaian Breast Cancer Institute. We usually propose coverage to replace a full years income, so if you are making $50,000.00 per year, female, non smoker, age 40, your premiums would only be about $30.00 per month (assuming “standard” health underwriting results).  Please review the article and contact us for more information.

Harvey

Economic impact ‘huge’ for breast cancer patients, report says – The Globe and Mail

“The economic impact of breast cancer is huge and, in many cases, devastating for patients and their families,” says the report, released Thursday.

The study, which CBCN says is the first to examine the financial and labour impacts of breast cancer, is based on a survey conducted last year of 446 Canadians with the disease.

TFSA or RRSP: How to choose? – The Globe and Mail

As Canadian savings rates rise, a BMO report says older and wealthier Canadians are among those who should look at parking their money in a TFSA.

Piggy bank with coins iStockphoto

Happy New Year from our family "Down Under"

Our industry has long talked about mental health in the workplace.  As such, the industry is now putting teeth in the help and support for determining and understanding all of the problems associated with mental health issues.  The Canadian Life and Health Association has developed a plan to assist the workplace and the general public to help all understand the issue.

“The life and health insurance industry’s mental health guiding principles are designed to provide a set of standards and best practices that contribute to health and productivity. It also encourages continuous improvements over time and lays the foundation for the industry to play an active role as part of the solution. “

Please review the full article and we hope to talk with you soon.