tchavdar elenkov, ba econ, cfp insurance and financial advisor chances are you’ll recover chances...
TRANSCRIPT
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Tchavdar Elenkov, BA Econ, CFPInsurance and Financial Advisor
Chances are you’ll recoverChances are your retirement plans won’t
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Agenda
Getting better costs money
Planning for the unexpected
The impact on retirement savings
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Getting better costs money
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G E T T I N G B E T T E R C O S T S M O N E Y
Likelihood of getting sick
Medical advances & healthy living
Longer life expectancy
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It can happen to anyone
G E T T I N G B E T T E R C O S T S M O N E Y
The good news is that you will likely recover !
FACTThe risk of being diagnosed with a critical Illness before the age of 75 is higher than your risk of dying in that time.
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The costs of getting better
G E T T I N G B E T T E R C O S T S M O N E Y
Unexpected and significant costs
Costs not covered by provincial or employee health plans
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Critical illness insurance can help!
G E T T I N G B E T T E R C O S T S M O N E Y
Provides cash benefit that can be used to: Find the best health care available Hire a nurse or caregiver Pay off your mortgage Provide income when you can’t work Protect your retirement plans Make sure your business survives Take a vacation
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Planning for the unexpected
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P L A N N I N G F O R T H E U N E X P E C T E D
Why get critical illness insurance?
Allows you to plan for the unexpected
Possible Return of Premium option – you’ve got nothing to lose!
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How do I know which plan to choose?
P L A N N I N G F O R T H E U N E X P E C T E D
Look for a plan that offers: Best coverage for you
A partial benefit if your condition isn’t life threatening, but life altering
The ability to receive the benefit upfront
Return of premium options
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The impact on retirement savings
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What if you don’t have insurance?
I M P A C T O N R E T I R E M E N T S A V I N G S
Required to work longer
Diminished lifestyle during retirement
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Meet Joe & Mary
I M P A C T O N R E T I R E M E N T S A V I N G S
Joe had a stroke at 45
Costs exceeded $100,000
Required to dip into RRSPs
Unrealistic to retire at age 65
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Don’t let this happen to you
I M P A C T O N R E T I R E M E N T S A V I N G S
Adding critical illness insurance to your financial plan makes sense
Get peace of mind knowing that if you get sick, you can focus on what really matters … getting better!
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