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Critical Illness Insurance
Critical Illness Insurance (CII) is a relatively new insurance product
designed to manage the risk associated with contracting a disease,
as specified in the contract.
If the insured is diagnosed with a disease covered under the plan
and still alive after 30 days, a lump sum payment will usually be
made to the insured.
This lump sum payment can be used to pay for expenses associated
with the disease such as the need to refit a home or automobile,
the cost of seeking life-saving treatment or surgery outside of
Canada, or simply as a replacement for lost income from work leave.
It should be noted that Critical Illness Insurance is not a replacement
to Life or Disability Insurance but rather a complement to increase
your protection and further minimize risk.
Critical Illness Insurance is a vital part of any complete insurance
package. Your W.P.G. representative can help you to select the correct
policy to meet your insurance planning goals.
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