Critical Illness Can Be Financially Devastating
Serious physical illness occurs more often than most Canadians realize
. Anyone who desires to address the needs of life while dealing with severe illness should have sufficient health insurance in Toronto. An experienced insurance broker or agent can assemble the right types of insurance coverage that will provide funds for the monthly family needs while paying for medical expenses that arise. Medical science has advanced, and survival rates are higher than ever before. Financial burdens can be devastating if proper insurance coverage was not in place prior to the illness.Actual Canadian health statistics reveal the following facts about critical illness:
" Cardiovascular disease accounts for approximately 31 percent of all deaths in Canada.
" Of all Canadian women, 40 percent will develop some form of cancer at some point in life.
" Of all Canadian men, 45 percent will be diagnosed with cancer during their lifetime.
Survival rates are increasing, but those families will have significant financial burdens if the proper insurance in Ontario is not in force.
" Treatment costs have skyrocketed to an average of $65,000 when the newest cancer drugs are administered.
" Three-fourths of all cancer drugs that are taken at home will cost more than $20,000 per year.
Many Canadians will rely on their employee benefits in Ontario to provide sufficient insurance coverage. Every individual must understand the additional costs associated with critical illness. The best time to find out what is covered is before the illness arises and the insurance claim is made. Too many people wait until the bills arrive to determine the coverage details of the policy.
Insurance companies provide written documentation about the actual coverage offered by the insurance company. Legal terms are selected to limit the costs that must be paid by the insurer. Policyholders will not be able to change the terms of the policy.
Experienced insurance agents and brokers encourage health insurance policyholders to carry sufficient coverage. Family life must continue when the wage earners become ill. Other types of insurance can provide funds for monthly needs in addition to the health coverage. The expense associated with insurance premiums will be significantly less than the accumulated bills that will arise from critical illness. Insufficient insurance can cause the financial dreams to be lost. Wise Canadians will have detailed discussions about health insurance coverage before a significant illness is diagnosed.
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