Critical Illness (CI) insurance and Disability (DI) insurance are both types of Living Benefits Insurance. Canadians are determined to protect themselves, their families and their financial assets in case of physical hardship. These two coverages are easy to confuse, but they address different needs and hardly overlap.

There are over 25 diseases belong to the category of Critical Illness (CI) that may lead to short term or long term disability of an individual who becomes unable to perform his/her job which is the main, or perhaps the only source of income.

Cancer, heart disease, multiple sclerosis and Alzheimer’s disease are the top causes of critical illness and disability cases among Canadians.

Some Statistics on Canadian Population showed that:

• Of 10 Healthy Males 3 will have a Critical Illness before Age 65.
• Of 10 Healthy Females 2.7 will have a Critical Illness before Age 65.

Some examples on Cancer illness among Canadians:

• Prostate Cancer – 1 in 7 men will develop prostate cancer.
• Breast Cancer – 1 in 9 women will develop breast cancer.
• Lung Cancer – 1 in 11 men and 1 in 16 women will develop lung cancer.
• Colorectal Cancer – 1 in 14 men and 1 in 15 women will develop colorectal cancer.

Disability Insurance is a product designed to offer you an alternative source of steady income (monthly benefits) at a time where you need it the most; i.e., if you become totally or partially disable and you are not able to perform your job.

Critical Illness insurance is a product that pays out a tax-free lump sum in the event that someone acquires a critical illness like cancer, heart attack or stroke, to name a few, and survives 30 days after the date of diagnosis. This coverage benefits can help you as follow:

• Consider new medical treatments and medications not covered by private or government health insurance plans.
• To travel abroad seeking a special and specific medical treatment, or to fund long term home care in the province.
• Reduce debt and other financial concerns while you cope with your illness.
• Replace any reduced or lost income for you and your spouse, who may wish to take time off work to care for you.