MANITOULIN FINANCIAL 

I the case of seriously ill, having to take funds out of an RRSP or other investments to cover medical bills, would greatly affect the totally that is available at the time of retirement. If you would have to use funds that are designated for retirement or a special financial goal, like buying a cottage, to pay for increased medical bills, then Critical Insurance may be a form of protection that would be of interest to you.

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A Critical Insurance policy is very similar to a Life Insurance policy, except that the insured receives the monetary benefit. After a 30 day waiting period, if the insured has been diagnosed with a covered illness, they will receive the amount insured for. This money can be used in any way that the insured wants; medical bills could be covered, the insured could travel to a special clinic, or the insured could use the funds for a vacation, it’s completely up to the insured!

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Illness that are generally covered include:

• Heart Attack

• Stroke

• Life Threatening Cancer

• Coronary Artery Bypass Surgery

• Multiple Sclerosis

• Kidney Failure

• Loss of Limb

• and many other conditions