Why consider this insurance?

• The number one cause of death in Canada is cancer, accounting for nearly one-third of total deaths. Approximately 235,000 new cases of cancer will be diagnosed in Canada in 2024. Approximately 1.5 million Canadians are currently living with or beyond a cancer diagnosis. The disease mainly affects those aged 50 or older. However, it can occur at any age. Almost one in two Canadians can develop cancer during their lifetime.

• About 8% of Canadian adults over 20 live with a diagnosed heart disease. That’s approximately 2.4 million people. Cardiac arrest accounts for an estimated 35,000 deaths annually.

• Approximately 62,000 stroke cases occur in Canada annually. Stroke has a devastating impact on families. High blood pressure materially increases the risk of stroke. Almost 20% of Canadians have high blood pressure, which makes the risk of stroke even more likely. Approximately 16,000 deaths are attributed to stroke every year, making it the third leading cause of death.

• 54% of critical illness claims come from men aged 54 on average.

• Dementia is the most expensive illness in the country. In fact, the Alzheimer Society of Canada projects dementia to cost the economy $293 billion every year by 2040. Research conducted in 2011 concluded that 747,000 Canadians live with Alzheimer’s disease, the most common form of dementia.

Virtually all critical illness insurance policies in Canada include cancer, heart attack, stroke, and coronary artery bypass surgery. On average, critical illness policies cover some or all 26 illnesses common to Canadians.

Cardiac arrest and cancer patients account for 90% of critical illness claims. As patients with existing critical illness will not qualify for critical illness coverage, it is important that clients apply for coverage early.