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Why Purchase Critical Illness Insurance Before Retiring

Critical illness insurance (CII) provides policyholders with a lump sum payment to help cover medical expenses when diagnosed with a specific medical condition like cancer, heart attack or stroke. To support you in a search for a critical illness insurance plan that works, the insurance solutions professionals at DFSIN TORONTO WEST encourage you to review the following advantages to purchasing critical illness insurance when retiring—and if you’d like to get a head start on getting a plan, get a free quote today.

3 Reasons to Get Critical Illness Insurance When Retiring

  1. Investment Protection

You’ve spent your entire life awaiting retirement—you’ve saved your money, you’ve supported your family, and you’ve probably made plans to spend the foreseeable future focusing on rest and relaxation. However, if you were to suffer a heart attack, or stroke, or become diagnosed with a life-threatening disease, you risk the possibility of needing to withdraw money from your retirement fund to cover exorbitant medical expenses. By investing in critical illness insurance before retiring, you protect your investments for you and your family, decreasing the risk of losing property or comfort.

  1. Customizable Plans

When you meet with an insurance provider about discovering options for your critical illness insurance plan, you’ll be pleasantly surprised to discover how flexible your policy can be. Plans can be renewed, extended from short-term policies to lifetime coverage, or even converted without providing additional medical evidence; permanent insurance can also be added, thus providing extended coverage for life. By purchasing critical illness insurance, you aren’t just protecting your investments, you’re receiving personalized support to ensure that you and your family are protected from the unpredictable effects of being diagnosed with a life-threatening medical problem.

  1. Flexible Benefits

Retirees choose critical illness insurance because the plans aren’t just customizable, they’re highly flexible as well. This means that when you need to access your benefits, you can simply notify your provider and receive a lump sum payment, allowing you to make the decision of how you will spend the money. The funds are available for specialized care, travel, medication, medical equipment, and a variety of other needs. Other insurance policies usually don’t provide you with this degree of flexibility, but critical illness insurance plans do.

Get Critical Illness Insurance Now

For critical illness insurance solutions in Ontario, contact DFSIN TORONTO WEST today.