Critical Illness Insurance (CII) is a relatively new insurance product designed to manage the risk associated with contracting a disease, as specified in the contract.
If the insured is diagnosed with a disease covered under the plan and still alive after 30 days, a lump sum payment will usually be made to the insured.
This lump sum payment can be used to pay for expenses associated with the disease such as the need to refit a home or automobile, the cost of seeking life-saving treatment or surgery outside of Canada, or simply as a replacement for lost income from work leave.
It should be noted that Critical Illness Insurance is not a replacement to Life or Disability Insurance but rather a complement to increase your protection and further minimize risk.
Critical Illness Insurance is a vital part of any complete insurance package. Your WPG representative can help you to select the correct policy to meet your insurance planning goals.
A disability can be a source of great financial strain on an individual and their families. WPG believes disability insurance to be an integral part of meeting your insurance planning needs.
Without insurance protecting you from this unexpected and tragic event, the financial consequences can be drastic. When a disability occurs, people's income commonly decreases while expenses increase due to the many added costs of coping with the disability. Often people must resort to borrowing money or liquidating assets in order to meet these additional expenses.
By purchasing disability insurance you can protect yourself from these hardships by replacing lost employment income and providing extra funds to help cover any new expenses.
Make sure to include disability insurance as a part of your total insurance package with WPG.
Long-Term Care is a health and personal care service provided for individuals who are no longer able to care for themselves.
Long-Term Care Insurance (LTC) is a complement product to your other insurance, providing a source of funds to pay for access to private care facilities.
Without long-term care insurance, individuals are often faced with the unpleasant need to liquidate assets or rely on their children or the government for help in providing the necessary care.
With the increase in average life expectancy, the probability of requiring long-term care has increased, as has the cost for private facilities. WPG can ensure that with the proper coverage your needs will be met.
Individual Health Insurance plans are designed to provide insurance coverage commonly provided in a group plan to individuals who do not have such coverage.
The coverage may include dental, prescription drug, travel coverage needs, etc.
Individual Health Insurance is ideal for sole proprietor businesses, or for individuals whose employer does not provide insurance to cope with these financial risks.
Please contact WPG for further information on why Individual Health Insurance may be an important part of your insurance needs package.