Attention Parents and Grandparents:
You could give your son, daughter or grandchild a big advantage! Financial security for the family makes a difference. Unfortunately, critical illnesses like cancer can be financially devastating.
Recently, I have been struck with news of several clients and friends, both young and middle age, I know well, that have had heart attacks and cancer. Recently, I was told that over a person’s lifetime in Nova Scotia, one in two will get cancer. (Read the 2018 Nova Scotia Cancer Care Program Statistics Report.) A while ago, an oncologist client of mine, who was on call one day, was telling me, he had nine cancer patients in beds that day, four of which were under age 35! A critical illness, like cancer, is traumatic in different ways. We all have been affected with family and friends who have had it or have it. A big stressor is financial troubles that can arise due to loss of income, expensive medical expenses and other unforeseen expenses.
Enter critical illness insurance — it can make a huge difference financially. You have to be reasonably healthy to qualify. Plus, for young people, the cost is very low! In addition, it becomes a savings plan too since you can get all your money back after 15 years. I refer to this plan as the “best savings plan in Canada” for young people. Whether you are a parent or a grandparent, do them a favor — get them set up on a plan today. A young person can have a plan for as little as $25 monthly. It will provide future financial security in the near term for the family and if nothing goes wrong while they are dependent, it will give them great financial security when they are out on their own!