Critical Illness Insurance
Recovery Without Financial Strain
Every year hundreds of thousands of Canadians from every walk of life suffer from serious illnesses. Thanks to progressive medical practices, many of these people survive and recover fully. But recovery takes time . . . and money.
Critical illness insurance helps survivors and their families manage the costs associated with treatment and recovery by providing a lump sum payment - when it's needed most and for whatever purpose. These funds might allow recovering survivors to take care of existing debt, provide for their children, and ease the financial burden that presents itself when a person requires a prolonged or permanent absence from their job.
Unlike life insurance, critical illness insurance is there for you while you're living. Chinook Credit Union provides members access to Credential Financial Strategies which offers insurance products that help you maintain financial balance so that, in the unfortunate event of a critical illness, you and your family can focus on recovery and the future.
Critical Illness Insurance Features:
- Provides a lump sum of tax-free funds after diagnosis of a critical illness.
- Is independent of a survivor's ability to work.
- In the event of death, premiums are refunded to the beneficiary.
- No approval is required for expenditures.
How this product benefits you:
Traditional life insurance provides for families in the event of death, but it falls short when you survive a medical crisis. Your financial security is most threatened when you are diagnosed with a critical illness because it usually means your income will be severely compromised during treatment and recovery. Critical Illness Insurance eases the financial pressure by providing a lump sum payment upon diagnosis of a covered condition.
Critical illness insurance provides you with freedom of choice during the most difficult time in your life. If you want to try alternative therapies, be treated outside of the country, hire someone to take care of you, enable your spouse to take leave from work, or hire a nanny to take care of your children, you choose how to spend the funds provided. You can protect your savings and assets and maintain your family's lifestyle.
Call a Credential Financial Strategies Representative today. Just click this link to find the Representative nearest you.
Your insurance contract will provide details of the coverage available under the plan you choose. Restrictions may apply. Credential Financial Strategies Inc. is a member company under Credential Financial Inc., offering financial planning, life insurance and investments to members of credit unions and their communities. ®Credential is a registered mark owned by Credential Financial Inc. and is used under licence.
