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Critical Illness Insurance in Abbotsford

Written by Shelter Bay

Critical Illness Insurance in Abbotsford.

Critical Illness Insurance in AbbotsfordLocated in British Columbia’s beautiful Fraser Valley, and the biggest municipality in the Fraser Valley Regional District, the 141,000+ residents of Abbotsford never lack for things to do, see and experience.

From the airshow to the berry festival and Agrifair, life in the valley is good.

However, living in a beautiful region with a warm climate and diversified economy does not exempt Abbotsford residents from something that could dramatically change their standard of living:  a critical illness diagnosis.

Today, we will look at critical illness insurance in Abbotsford, and how you can use it to protect your way of life.

What is a critical illness and how does insurance help?

A critical illness is a serious disease or ailment that has the/critical-illness-insurance-employee-benefits-plan-cover-abbotsford/ potential to interrupt your income and take you out of the workplace for a prolonged period of time. When most people think of critical illnesses, they think: cancer. They are not wrong. Cancer is a very serious concern for many Canadians and make up nearly 70% of all critical illness insurance claims.

Treatment for a critical illness is usually intensive, and combined with the effects of the illness, most patients wind up taking a significant leave from work. This is very problematic financially when the time off eclipses vacation and paid sick days.

Depending on your illness, disability insurance may cover a portion of your income. However, for those with a critical illness, this is often not enough.

In addition to losing out on full time income, the family may have to come up with funds for copays on medication, out-of-province or experimental treatment, caregiver services, renovating the house to make it more accessible and easier to perform the acts of daily living (chair lifts, ramps, accessible bathtubs, etc.), flying in family members if the situation becomes dire, bucket list trips, or a family vacation to help with relaxation and recuperating.

There is also life insurance, but that pays your beneficiaries a sum of money when you pass away. Thanks to today’s modern medicine, your chances of surviving a critical illness can be quite good.

For many families, critical illness insurance in Abbotsford fills the gap between disability insurance and life insurance. This living benefit is paid out when the life insured develops a critical illness named in the policy, and it is a large tax free lump sum with no contingencies on its use.

Imagine your life without critical illness insurance

For a typical, busy family on the go in Abbotsford, a critical illness is financially devastating. Put yourself into these scenarios and ask yourself the following questions:

  • Your family’s main income-earner becomes critically ill and must take at least six months, possibly more, off work. Are there enough savings to support the family during this time?
  • Is there another partner working in the home? If so, is his or her income impacted because they must help care for the patient, and drive him or her to medical appointments?
  • Is money available for a nanny or caregiver if the other partner cannot take time off work? Is money available or a caregiver if there are children in the home and no other partner to help share the burden?
  • The family’s main caregiver develops a critical illness and is unable to adequately perform his or her usual tasks. Can the other partner reduce work hours to provide care?
  • A child becomes critically ill and requires frequent trips to medical professionals. If both partners work, will one take a leave of absence?  Will both?  How does this affect the family dynamic with the other children in the home?

The thought of a partner or child becoming critically ill is devastating. Not having the cash you need to carry you through this rough time compounds the problem.

The true value of critical illness insurance in Abbotsford

The true value of critical illness insurance in Abbotsford goes far beyond monetary. A large lump sum of cash means choices. It means the ability to take time off work to recover or to help care for the patient.

While disability insurance replaces a portion of your income, critical illness gives you the money you need to handle the many extra considerations that impact a family when a member becomes critically ill.

Protection for Abbotsford residents

As beautiful as Abbotsford is, living in a nice city with great people does not insulate you from life’s interruptions. Critical illness insurance is available to make your life easier during tough times.

With a broker that can work with you remotely, over the phone and using screen share software, you don’t even have to plan an office visit into your busy day. Contact us today to learn more about critical illness insurance in Abbotsford, and the protection it gives you and your family.

Shelter Bay Financial Corp
Shelter Bay Financial Corp

Life & Health Insurance brokers working for Canadians

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