Critical Illness Insurance and Catastrophic Coverage are a valuable protection duo Did you know you can offer added protection when your clients ask about critical illness coverage? When you get that request, Lifecheque® Basic Critical Illness Insurance is the obvious recommendation – and a very cost-effective solution. But for an affordable added premium, they can combine it with Flexcare® Catastrophic Stand-Alone Coverage. Here’s how the two plans can help, and work together: LIFECHEQUE® BASIC CRITICAL ILLNESS INSURANCE | FLEXCARE® CATASTROPHIC STAND-ALONE COVERAGE | - Pays a tax-free lump sum of $75,000, $50,000, or $25,000, depending on what was purchased.
- Benefits paid after survival period of 30 days following diagnosis of heart attack, stroke, life-threatening cancer, coronary bypass surgery or aortic surgery*
- Return of Premium Rider is available for individuals under the age of 56.
| - Covers all drug costs after your client has spent $4,500 or $10,200 (their choice) out-of-pocket.
- Also covers $20,000 per year towards homecare and nursing, prosthetic appliances, and durable medical equipment.
- Pays up to $100,000 over a lifetime for the costs listed above, after they’ve reached the annual maximums for any other health plans they have.
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The combination can be quite affordable. A 40-year-old female non-smoker would pay as little as $13.25 per month for Critical Illness Insurance, plus as little as $19.40 for Catastrophic Coverage. And when you consider many cancer patients spend over $20,000 on various costs throughout their treatment,** the premiums can be well worth it. Please contact us for more information on these valuable plans. * No benefit is payable within the first 90 days following the effective date of the policy if the insured has any signs, symptoms or investigations that lead to a diagnosis of cancer. ** TheRecord.com, “Cancer patients face high out of pocket expenses,” April 15th, 2017. |
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