Protecting Against Sudden Sickness or Illness

Q.1. What do I need to know about insurance?

There are a number of types of insurance policies that cover different needs and apply to different stages of your life. They protect such things as your income, your assets and your estate. Some insurance policies are “term” which cover a specific period of time and some are “permanent” which last as long as you live.

Q.2. Who should have supplementary health insurance and how will it help me?

Supplementary health insurance pays for health services such as prescription drugs and dental services that are not generally covered by provincial or territorial health plans.  If you have an employee plan check that plan to see what additional coverage it offers.

Q.3. How does critical illness insurance work?

Critical illness insurance pays you a lump sum if you develop a serious illness such as cancer or suffer a heart attack. This lump sum helps to address the financial impact of these developments.

Q.4. Why would credit or debt insurance be of value?

Credit or debt insurance is a type of insurance that you can get to cover most types of debt such as a mortgage, line of credit, or credit cards. It pays off whatever you owe if you get critically ill or injured or die.

Q.5. What is long-term care insurance?

Long-term care insurance covers the costs of nursing-home care, home-health care, personal or adult day care. This insurance is most often appropriate for those with a chronic or disabling condition that requires constant care.

Q.6. What is disability insurance and how does it work?

Disability insurance provides coverage if you cannot work temporarily or permanently as the result of an injury or illness such as a heart attack, operation or permanent disabling condition.

Q.7. I pay for employment insurance on each pay cheque so how will this help me?

Employment insurance is a government plan that helps unemployed Canadians while they look for work or upgrade their skills. It also helps Canadians who are sick, pregnant or caring for a newborn or adopted child, as well as those who are providing care for a seriously ill family member.

Q.8. How can I get a Health Card?

Since health is our most valuable investment, it is important to take care of it. In Canada, since Health Care is a right and is free, all Citizens or Health Card approved immigrants are eligible to take advantage of this right. To see if you meet the requirements for a Health Card please see here.

Q.9. What if I cannot afford prescription drugs?

The Trillium Drug Benefit Program is a platform designated to help Canadians with the prices of high prescription drugs. The program offers a one-time a year deductible (which varies based on household income), for the payment of all prescription medications for that calendar year. More information about this program can be found here. This program is designed for households of low income, students and candidates who do not have drug-based insurance.