CGL Financial

Critical Illness Insurance

Critical Illness Insurance

 

Critical Illness Insurance … because recovery will be your first priority

Getting sick isn’t something any of us like to think about. But it happens. If it does, thanks to improvements in healthy living and medical science, there is a good chance you will recover and get on with your life.

But getting better costs money. Treating and coping with illness can mean significant and often unexpected costs.

What’s the chance I’ll ever need Critical Illness Insurance?

Did you know that you have a greater chance of getting a critical illness before you’re 75, than you do of dying? That probably seems scary. But the good news is that the majority of people who are diagnosed with a critical illness before age 75 recover and get on with life.

Critical Illness Stats.

Of 10 Healthy male adults, 3 will have a critical illness before age 65

Of 10 healthy female adults, 2.7 will have a critical illness before age 65

Insure against Heart Attack  (From the Heart and Stroke Foundation)

  • 1 in 4 Canadians will contract some form of heart disease 
  • 75,000 Canadians suffer heart attacks each year
  • Heart disease costs the Canadian economy approximately $19 billion every year in medical services, hospitalization expenses, loss of income and loss of productivity
  • The rate of death among patients hospitalized for heart attacks has been decreased by half, from 16 per cent to 8 per cent
  • 1 in 2 heart attack victims are under the age of 65

Insure against Stroke   (From the Heart and Stroke Foundation)

  • 50,000 Canadians suffer a stroke each year 
  • 75% survive the initial event
  • strokes are the leading cause of neurological disability
  • 1/3 of stroke victims are under the age of 65
  • 60% of stroke victims will be left with a disability 

Insure against Cancer   (From the Canadian Cancer Society)

  • more than 130,000 Canadians will be diagnosed with cancer this year
  • over 60,000 people in Canada will die this year from the disease
  • 1 in 3 Canadians will develop cancer in their lifetime
  • 1 in 9 women will develop breast cancer
  • 1 in 3 women and 1 in 2.5 men will develop cancer in their lifetime.

Insure against Coronary Artery Bypass Surgery   (From the the Heart and Stroke Foundation of Ontario/Canada)

  • bypass surgery is performed more on men than women by a ratio of nearly 4 to 1
  • there are approximately 11,000 bypass surgeries performed in Canada each year
  • the rate at which bypass surgery is performed on people age 65 and older has increased

Insure against Multiple Sclerosis   (From the Multiple Sclerosis Society of Canada)

  • More than 50,000 Canadians have Multiple Sclerosis
  • MS is the most common neurological disease among young Canadians
  • Canadians have one of the highest rates of MS in the world.
  • Women are twice as likely to develop MS as men

Insure against Parkinsons Disease    (From the Parkinson’s Foundation of Canada)

  • 30% of all Parkinson’s patients are under 50
  • 20% of all Parkinson’s patients are under 40
  • there are approximately 80,000 - 100,000 Canadians suffering from Parkinson’s

Insure against Paralysis   (From the National Spinal Cord Injury Association of Canada)

  • There is an estimated 900 Canadians who sustain a spinal cord injury each year 
  • More than 30,000 Canadians suffer from paralysis of 2 or more limbs
  • Most persons who suffer spinal cord injury are between 16 and 30 years of age
  • The most common causes of spinal cord injury are car collisions and falls

Insure against Alzheimers Disease   (From the Canadian Alzheimer Society)

  • Alzheimer Disease is the fourth leading cause of death in Canada
  • Every year approximately 10,000 Canadians die from Alzheimer’s
  • Approximately 1 in 100 Canadians suffer from Alzheimer’s disease
  • There are approximately 22,000 people in Metro Toronto with Alzheimer’s
  • The disease occurs in 8% of the general population over 60

Insure against Kidney Failure   (From the Kidney Foundation of Canada)

  • Kidney disease ranks sixth among diseases causing death in Canada
  • Each day an average of 8 Canadians learn that their kidneys have failed
  • Approximately 2000 Canadians are on a waiting list for kidney transplant
  • 351 kidney transplants were performed in Ontario in 1995
  • 1 in 10 will develop kidney stones at some point in their lives

Insure against Deafness    (From the Canadian Hearing Society)

  • 280,000 Canadians are deaf
  • 1,120,000 Canadians are hard of hearing
  • 1,400,000 do not use amplification
  • There are more than 2,800,000 Canadians with hearing loss

Insure against Occupational HIV   (From the Canadian Aids Society)

  • Approximately 4.4 million health care workers suffer 800,000 needle sticks and other injuries from sharp objects annually
  • An estimated 16,000 of these objects are contaminated with HIV

 

What conditions are typically covered?

Depending on the plan you choose, if you’re diagnosed with any of the Covered Conditions defined in your contract and you survive the waiting period (30 days in most cases), you’ll receive a cash benefit to spend as you like. You choose the amount and type of coverage you need.

Covered Conditions

  • Cancer
  • Coronary Bypass
  • Heart Attack
  • Stroke
  • Alzheimer’s Disease
  • Aortic Surgery
  • Benign Brain Tumour
  • Blindness
  • Coma
  • Deafness
  • Heart Valve Replacement
  • Kidney Failure
  • Loss of Limbs
  • Loss of Speech
  • Major Organ Transplantation
  • Major Organ Transplantation Waiting List
  • Motor Neuron disease (ALS or Lou Gehrig’s disease)
  • Multiple Sclerosis
  • Occupational HIV Injury
  • Paralysis
  • Parkinson’s Disease
  • Severe Burns

Critical Illness Insurance is designed to provide you with financial peace of mind so that you can deal with the unexpected costs of a critical illness and get started on recovery as soon as possible. It provides a cash benefit if you’re diagnosed with one of the Covered Conditions defined in your contract.