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Protect Your Savings - Critical Illness Insurance
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Creator of Critical Illness--Dr. Marius Barnard

Jake Jun Qiao, Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), Member of Million Dollar Round Table (MDRT). Please contact me for any financial planning inquires.


Position: Home - Health Insurance - WARTROZ FR
Protect Your Savings - Critical Illness Insurance

Because your investments should be for your future - not your medical bills.

You're probably a lot like Susan. You've worked hard, made it a priority to save for the future and worked with your advisor to develop a sound investment plan. When it comes to retirement, you'll want to enjoy it on your cwn terms. Susan has invested well and can look forward to a healthy retirement income.
Meet Susan
Through the years, Susan has built her nest egg and is looking forward to enjoying an active retirement.

The Challenge

Susan has no protection against her greatest financial vulnerability - changes to her health.
What would happen if Susan was diagnosed with a critical illness?
Things like out-of-pocket medical expenses and travel costs would have to come from her retirement savings.Early withdrawals could have tax consequences, and selling investments earlier than planned might not generate the returns she expects.
In this situation, Susan might also find it difficult to continue investing. Temporarily putting a hold on investing can have a long-term effect on portfolio growth.
If Susan is forced to change her retirement plan, her investments may never recover from lost returns - and her future retirement income could fall far short of what she is hoping for.
When people get sick, no matter how wealthy they are, the first priority is recovery.Financial concerns can add unnecessary and unwanted worry during an already stressful time.


Here’s What Can Happen 

■  Susan already has $200,000 accumulated, and invests $20,000 annually. The value of her investments, by age 71, could be $1,784,517 (assuming 5% growth),
■  If a critical illness happens at age 5B and $2S0f000 is required as she recovers, the investment value at age 71 could change to $1,211,S12. This is a difference of $573,005.

The Solution 

Have enough critical illness insurance to stop loss and protect assets.
Critical illness insurance helps protect you against prematurely withdrawing money from an RRSP or other investments. It provides a cash benefit that can be used however you choose, including:
■  fund private or alternative medical treatment,
■  cover mortgage or other debts, and
■  replace lost income for the insured or a loved one who takes time off work to provide care.

The Result 

Asset protection and peace of mind.
By directing a portion of the funds she planned to invest towards paying premiums on a critical illness insurance policy, Susan is protecting her assets against the possibility of a future critical illness.
Plus, if Susan elects one of the return of premium on cancellation or expiry (ROPC/E) options and chooses to cancel her policy she will have her premiums returned, provided no critical illness benefit has been paid.
5,167,67.50 of Susan’s $20,000 annual savings pays the premium of her critical illness insurance policy. $M,832.50 is invested as usual. ($5,16750 is based on Sun Critical Illness Term 75, with ROPC/E for a 45 year-old female non-smoker.)
■ If a critical illness happens, the policy pays out $250,000. No money is withdrawn from her savings.
■ If there is no critical illness she can choose to cancel her policy anytime after 15 years and receive her premiums back. If she cancels at age 71, and the returned premium is added to her investments, the total would be $1,641,S37. The impact of being insured all those years on her portfolio would be $142,980.
Note: The figures and interest rate in the example(s) shown above are hypothetical and are for information purposes only.
Without critical illness insurance, Susan’s investments are at risk.But with critical illness insurance protection, there should be no Advisor information need to withdraw funds from her investments and jeopardize her retirement plans.
Simply dial 416-835-8805 for details.


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