Why Critical Illness Insurance Plan ?

Why Critical Illness Insurance Plan ?….
– Changing demographics.
– Medical breakthroughs mean more people are
surviving and living longer.
– Increasing incidence rates.
– Government cutbacks.
– Employer cutbacks.
– Increasing awareness of financial burden.

Some Facts and Figures

Critical Illness Claims
People assume: “It won’t happen to me!”
… but you are never too young
The average person who submitted a claim for
critical illness insurance in the last three years
in Canada was 41 years old.
25% of all claims came from individuals under
age 35.

Incidence of Critical Illness
• Heart Attack … did you know …
– 1 in 4 Canadians currently suffer from heart
disease, disease of the blood vessels or is at risk
for stroke.
– 1 in 2 heart attack victims is under the age of 65.
– The Canadian per capita heart attack rate is one
of the highest in the world.
– An average of 95% of heart attack victims survive
the initial attack.

Incidence of Critical Illness
• Stroke … did you know …
– Risk of stroke before age 70: 1 in 20.
– For each death attributed to stroke THREE victims survive.
– 50,000 Canadians suffer a stroke each year.
– 300,000 Canadians are living with the effects of stroke.
– Hypertension is the #1 risk factor.
– Stroke remains the leading cause of adult disability related to
the nervous system.
• Cancer… did you know …
– 1 in 3 will develop some form of life threatening cancer.
– 3 out of every 4 families will be affected.
– Estimated 139,900 new cases of cancer will occur in 2003.
– 38% of women and 41% of men will develop cancer in their
lifetime.
– Since 1970 incidence rates have increased 1% per year.
– 1 in 9 women will develop breast cancer.
– 67% of costs related to treatment come from indirect
expenses not covered by Provincial Health Plans.
Who needs Critical Illness Plan? …YOU
• Self employed
• Contract workers.
• Business owner(s).
• Home-based businesses.
• Key employees.
• Families.
• Singles with/without dependents.
• Homemakers.
• Parents of Children with Special Needs.
• Part-Time and Seasonal workers.
• High income earners with substantial financial commitments.
Who is buying CI today in Canada?
•Average age is 43-45.
•75% of buyers are between ages 35 and 54.
•Approximately 60% male, 40% female.
•Average size Benefit Amount is $105,000

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