Be prepared for the unexpected

Being prepared for the unexpectedIt’s important to have life insurance to make sure that your loved ones are taken care of in the event that something happens to you. However,  you have a very good chance of surviving that “something”, be it an accident or a diagnosed illness. And surviving can not only change your life, it will drastically change your lifestyle and your ability to earn an income in both the short and long term.

For many, this means dipping into their retirement savings or borrowing money to make ends meet. But there is a better way – insuring yourself with Living Benefits coverage. There are many options for living benefits insurance including Critical Illness insurance, Short and Long Term Disability Coverage and Long-Term Care insurance.

In Canada, one in seven will become disabled during their lifetime and one in three workers will lose their ability to work, becoming disabled for 90 days or more before the age of 65. Having disability coverage would ensure that you continue to receive an income and provide for yourself and your family, even when you are unable to work.

Critical illnesses such as cancer, heart attack or stroke can affect you and your family at any time and having Critical Illness Coverage can be a comfort both emotionally and financially. Considering one in 9 women is expected to develop breast cancer during her lifetime, one in 12 Canadians will develop lung cancer and there are about 40 – 50,000 strokes in Canada each year, having this type of coverage is a smart investment.

Critical illness insurance will provide a lump sum of money to ensure that you and your family are able to adapt and live with your new reality. This could mean allowing someone to stay home and be the caregiver; provide money for treatment or equipment, or reducing the worry of where you will get your next mortgage payment.

There are many benefits to having living benefits insurance, but most importantly, it will provide peace of mind that you and your family are protected in the event the unforeseen occurs.