Protection beyond life insurance
Life insurance is where we start. Critical illness and disability insurance are options we can explore where they fit your life. Here's what each one is designed to do, in plain language.
Protection if a serious illness changes things
Critical illness insurance is designed to pay a lump-sum benefit if you're diagnosed with a covered critical illness, such as certain cancers, a heart attack, or a stroke, as defined in the policy.
It's meant to help with costs that can come up during treatment and recovery, things your other coverage may not address. Whether it makes sense depends on your situation.
- The benefit is paid as a lump sum, and you generally choose how to use it.
- Which illnesses are covered depends on the policy's definitions.
- Survival periods and waiting periods usually apply before a benefit is paid.
- Eligibility and pricing depend on factors such as age, health, and smoking status.
- Exclusions and limitations vary between policies and insurers.
Critical illness insurance doesn't replace life or disability insurance. It's designed to do something different. What's covered always depends on the specific policy and insurer.
Learn more about critical illness
Protecting your income if you can't work
Disability insurance is generally designed to replace a portion of your income if an eligible illness or injury prevents you from working, subject to the specific policy.
Your income is what makes everything else possible: your home, your family's routine, your plans. So protecting it can matter as much as protecting your life.
Workplace vs. personal coverage
Group disability through work can be valuable, but it may differ from personal coverage you own, in amounts, definitions, and portability.
Waiting periods
The time before benefits begin (the 'elimination period') can vary by policy and affects how the coverage works for you.
Benefit periods
How long benefits may be paid also varies. Some policies pay for a set period, others longer.
Definitions of disability
Policies define 'disability' differently. Some are based on your own occupation, others on any occupation. This matters a great deal.
Underwriting
As with life insurance, insurers may consider health, medical history, occupation, and income when deciding on coverage.
Policy differences
Coverage, exclusions, and benefits can differ significantly between policies. There is no single 'standard' policy.
What's covered always depends on the specific policy and insurer. I don't imply that disability insurance covers every situation.
Learn more about disability insurance
Accident-related coverage, in broad terms
Accident-related insurance can help provide financial support following certain accident-related events. The specifics, though, can vary a great deal from one policy to the next.
- Benefits vary by policy and insurer.
- Covered events vary. Not every accident is treated the same way.
- Definitions of 'accident' vary between policies.
- Exclusions vary. Some situations may not be covered.
- Eligibility varies depending on the product and the applicant.
Because so much depends on the specific contract, accident protection is something we'd look at together, carefully, if it's relevant to your situation.
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Wondering whether any of this fits your situation?
That's a great question to bring to a conversation. Life insurance is the focus, and these are options we explore only where they make sense for you.
No pressure, no sales script. Just a real conversation.