Critical illness insurance helps cover the unexpected costs and potential loss of income associated with a serious illness. From the costs of medicine and treatment, to travel, specialist and home accommodations, treating and recovering from an illness can have a devastating financial impact. Plus, if you’re unable to work during your recovery, the impact is even greater.
You can use the funds as you wish:
- Medical expenses not covered under government plans
- Pay down or pay off mortgage debt, credit card debt or personal lines of credit
- Home renovations required to make living space suitable
- Replacing caregiver’s (e.g., spouse) lost income
- Having access to cash
Protecting your business
Critical illness insurance can provide a cash benefit to the corporation in the event a key employee or shareholder of a corporation is diagnosed with a critical illness covered in the contract.
The benefit can provide your corporation with the financial flexibility needed to:
- Meet the immediate cash needs of the company and to find replacement for a key employee
- Repay business debts
- Fund buy-sell obligations
- Maintain premium payments to existing corporate insurance plans
Synergy – offered by Manulife
Synergy offers one-of-a-kind insurance coverage, combining three policies in one affordable and easy-to-manage package. Synergy’s unique design provides protection against life’s everyday risks: disability, critical illness and early death.
Suitable for your personal and business needs, Synergy allows you to protect your family against the financial impact of the unpredictable, everyday risks we all face.