It’s a sad fact that one out of every three Canadians will experience a life-altering illness during his or her lifetime.

The good news however, is that with medical advances, people are surviving more of these illnesses. Indeed, the death rate due to stroke has declined 50% over the past 20 years and almost 90% of Canadians survive for at least 30 days following a heart attack.

In these instances though, people need insurance not because they are going to die, but because they are going to live!

The financial burden can be devastating to the individual and to his or her family.

With a Critical Illness Insurance policy, if you are diagnosed with a defined critical illness and survive, then the policy will provide you with a lump-sum of cash, 30 days after the diagnosis.

This cash can be used in any way you want, from re-fitting your house, to paying off your mortgage, to going to the United States for medical treatment, to taking some time off before returning to work.

With a 100% return of premium option, the “worst” thing that can happen with these policies is that you never suffer an illness, and you receive 100% of your money back at a stated date.