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Critical Illness / Disability Insurance

Allows you to take the time you need to recover by providing financial support to compensate for lost income.

The importance of critical illness and disability insurance

With Bank Mortgage Insurance…
  • Provides financial assistance following the diagnosis of a critical illness
  • Helps you honour your financial commitments while you recover
  • Help cover costs related to your critical illness or disability
  • Allows you to take the time you need to recover by providing financial support to compensate for lost income
  • Critical illness insurance helps protect you against the financial consequences of a critical illness such as cancer, heart attack or stroke. If you’re diagnosed with one of the conditions defined in the policy, you’ll qualify to receive a one-time, lump-sum cash benefit to spend however you wish.

If you’re diagnosed with a critical illness, focus on recovery with support from tax-free lumpsum critical illness insurance benefit…

COVERED CONDITIONS ON MOST POLICIES

  • Cancer
  • Heart Attack
  • Stroke
  • Coronary Artery Bypass Surgery
  • Alzheimer’s Disease
  • Aortic Surgery
  • Benign Brain Tumour
  • Blindness
  • Coma
  • Deafness
  • Heart Valve Replacement
  • Kidney Failure
  • Loss of Speech
  • Major Organ Transplant
  • Major Organ Failure (on waiting list)
  • Motor Neuron Disease
  • Multiple Sclerosis
  • Occupational HIV Infection
  • Paralysis
  • Parkinson’s Disease
  • Severe Burns
TERM CRITICAL ILLNESS

Term 10/20/25/Age 65/Age 75 plan options are available to protect you for your short-term liability, i.e., mortgage protection.

PERMANENT CRITICAL ILLNESS

Term 100/Whole life plan options provide permanent critical illness protection for life long.

RETURN OF PREMIUM

Offers all premiums paid into policy if you die or remain healthy till the expiry of the plan, as early surrender under permanent plan.

Why You Need Disability Insurance

You may think it will never happen to you, but at any time, an unexpected accident or illness could prevent you from working for months or even years. Are you prepared to deal with the temporary or long-term loss of income?

How would you maintain your standard of living?
How long would your savings last?
How would it impact your retirement planning?

Disability insurance provides you with a monthly income to compensate for the loss of earnings due to a disability. As a result, you can continue to meet your financial obligations as well as cover expenses related to your physical condition.

Reasons to Consider Disability Insurance

  • Worker’s compensation will only provide coverage for work-related injuries and accidents.
  • Unemployment insurance only provides short-term financial relief if you become sick or injured.
  • Group coverage plans do not always provide adequate benefits.
  • If you are self-employed, you will not have access to the protection you need from an employer.