Differences between these two types of insurance
Critical illness insurance
This coverage is designed to protect your interests if you need to take extended time off work to deal with a serious illness like cancer or a heart condition. You benefit from:
- Coverage for many different medical expenses
- Income protection insurance
- Home care
Disability insurance
To make up for lost earnings if you suffer a disability following an accident or illness, disability insurance will protect your financial security for a variable period of time. You benefit from:
- A choice of waiting periods
- Coverage for your financial obligations
- Income protection insurance
Coverage for your whole family
To prepare for the unexpected and protect your financial security, it’s a good idea to take out one of the following types of insurance:
- Personal coverage
- Family coverage
- Third party coverage
Among its many advantages, this type of insurance was designed to cover:
- Medications
- Treatment
- Emergency medical treatment
Protect your family’s interests
When you take out this coverage, you can even be reimbursed for rehabilitation services or medical equipment needed for recovery. This coverage is also highly beneficial as a complement to the group insurance provided by your employer. Whether it’s for you, your spouse or your children, this type of coverage lets you protect your financial security—or theirs—in the event of a serious illness or disability.
Another layer of protection
To make sure you benefit from the most comprehensive coverage possible, it is strongly recommended that you take out disability and/or critical illness insurance. Over the course of your life, a number of situations can leave you struggling with major expenses:
- Changing jobs
- Changes to your group insurance coverage
- Accidents
Add an extra buffer to your coverage
Taking out supplementary insurance to make up for gaps in your group insurance is a very wise strategy. This ensures that your assets and loans are covered, saving you from major debt if unfortunate circumstances arise. Let me make sure that the lifestyle you and your family enjoy is protected!
