CRITICAL ILLNESS: WHAT IS CRITICAL ILLNESS INSURANCE?
Nearly three quarters of us know someone who has suffered from a critical illness or have suffered from one ourselves. Half of us have seen a family member suffer through a critical illness yet most Canadian's aren't prepared for a critical illness. Thanks to modern medicine, more people survive serious illness. Unfortunately, the costs associated with recovery can place a strain on the financial resources of you and your business.
Consider this sobering statistic: one in 2 men and one in 2.2 women living in Canada will develop cancer during their lifetime. However, 65% of Canadians diagnosed with cancer are expected to survive.
WHO IS IT FOR?
Critical illness insurance can be suitable for anyone seeking financial protection to help cover the costs associated with recovering from a life-altering illness. It is also ideal for business owners that may need help to cover operating costs while they are recovering.
HOW DOES IT WORK?
You receive the tax-free lump sum payment if you meet the survival period requirement (typically 30 days) for a covered critical illness and are free to spend the money as you choose — such as to help cover business expenses, lost income, medical equipment or even to pay for private nursing or out-of-country treatment. It can help you where you need it most so you can focus all your energy on recovering.
HOW DOES IT BENEFIT YOUR BUSINESS?
KEEP YOUR BUSINESS RUNNING SMOOTHLY WHILE YOU RECOVER
There are numerous ways you could use the money you receive from critical illness insurance to help with your recovery while allowing your company to operate normally.
Remain on-schedule with debt repayment and salary obligations to key employees.
Shore up your income while you spend time away from work to focus on your health.
Travel for alternative treatments available outside Canada.
Pay for prescription drugs, medical devices and other treatments that may not be covered by government or other benefit plans.
SAFEGUARD YOUR RETIREMENT
The sudden emergence of a life-changing illness could force you to withdraw money from your business investments, incurring taxes and affecting your retirement plans in the process. The safety net provided by critical illness insurance can help your business to continue to operate without altering your carefully planned retirement goals.
GET THE BEST DOCTORS
Many critical illness polices give you access to Best Doctor's services. This service cannot be purchased as a standalone. Best Doctors was founded on the ideal that a person’s location should not limit the quality of their care. As a result, our mission is to bring together the best medical minds in the world to get you the right diagnosis and treatment, no matter where you live. We are proud to offer a variety of services which focus on getting you the very best care—each available without the need to travel.
ADDITIONAL SERVICE OFFERINGS
INTERCONSULTATION®
Best Doctors’ InterConsultation service lets you get an expert medical review from one of the world’s most well-respected doctors. We match your case to the most appropriate medical expert, who reviews your diagnosis and treatment plan in great detail. You don’t visit a second doctor or need to leave home. Just give us permission to collect your medical records, and we can do the rest—in complete confidence and at no cost.
You’ll receive an in-depth, easy-to-understand report with our expert’s recommendations and, if necessary, recommended changes. Even if your medical condition doesn’t seem serious at the time, it’s worth calling Best Doctors just to be sure.
CRITICAL CARE SUPPORT
Our Critical Care Support service lets you call on a Best Doctors expert for guidance during medical events that require emergency treatment, such as accidents, intensive care or extended hospital stays. After you call Best Doctors, an expert will immediately get involved in your case, working with your local medical team to provide his or her recommendations. Like an InterConsultation®, with Critical Care you can be sure the right decisions are being made, especially when time is critical.
ASK THE EXPERT™
A brief doctor’s visit doesn’t give you enough time to get all your questions answered, and the internet can be confusing and scary. The next time you have questions about a medical condition or treatment, ask an expert. With the Best Doctors Ask the Expert™ service, you can discuss your questions and concerns with a clinician over the phone. The clinician will then share your questions with the most appropriate Best Doctors specialist. You’ll quickly receive the expert’s written answers in an easy-to-understand report. No needless worrying, wondering or wandering the web.
FIND THE BEST DOCTOR™
The Best Doctors network includes over 50,000 of the world’s top medical experts. Each has been designated as among the best by other doctors through an exclusive, Gallup®-certified process. If you need to visit a specialist, we will search to see if any of our doctors meet your criteria and practice within a distance that works for you.