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Critical Illness of Non-Employed Spouses

A fact of life is that people do get sick.  While disability insurance is a financial product used to replace an income for a working spouse, a non-employed or stay at home mom or dad does not qualify for disability income protection. This is when a Critical Illness policy can add value.
 Aside from medical expenses, child care expenses or medical related travel costs, the working spouse often suffers an income loss when their spouse suffers an illness.

Critical Illness coverage can provide a tax-free lump sum payment to help the family financially, and premiums are more affordable than one might think. For example, a non-smoking 30 year-old stay at home mom or dad can purchase a $100,000 policy covering over 25 illnesses for about $30 per month.

In comparison, Halifax Metro Transit charges $78 per month for a bus pass, and cable TV and internet cost over $150 per month for a basic plan.

A Critical Illness policy offers peace of mind, so you can recover with family at your side.

If you are in Nova Scotia and would like some insurance advice, please contact Corry Collins:
corry@maritimewealth.com
902-444-7000

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Comments

  1. AWS Mortgages16 April 2021 at 04:41

    Suffering from serious illness, then critical illness cover will help you in paying a lump sum. There are various plans available according to your reach of paying a premium each month. AWS Financial Services will arrange and give you the best critical illness insurance advise for your needs Read more

    ReplyDelete

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