Protection if you need it. A refund if you don’t.
Critical Illness Insurance – Not Just for Adults
Most of us have experienced or known someone whose family has been greatly impacted by a parent being diagnosed with a life-threatening disease or condition. But what about when it happens to children? Sadly, all too often children are affected by childhood diseases such as:
The emotional and financial impact of these types of diagnosis can be devastating for a family.
Why would juvenile critical illness coverage make a difference?
While most life insurance companies in Canada offer Critical Illness protection for adults, not all offer similar coverage for children. Of those that do, Sun Life provides a particularly unique policy when combined with a Return of Premium Option.
What makes Sun Life’s Juvenile Critical Illness Unique?
What happens when there is no claim?
Bob and Sally purchase $200,000 Critical Illness Term to 75 with Return of Premium Rider on their 5 year old son, Michael. The annual premium for the policy is $1,393 ($462 of this premium represents the Return of Premium Rider)
Additional Premium Refund at surrender:
Sun Life’s Critical Illness Insurance plan with the Return of Premium Option for juveniles is a very unique plan that provides peace of mind if you need the protection and a full refund of your premiums if you don’t.
If you would like to explore this exceptional plan in more detail please call me and I will be happy to assist. Also, feel free to share this article with anyone you feel would benefit from this information by using the share buttons below.
* – assumes application is made for non-smoker rates at age 18
Alex Chan, RHU, CHS, CFP, CPCA, EPC, CFSB, CLU - Certified Financial Planner & Chartered Life Underwriter
Mobile: (604) 649-3829
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