Critical Illness Insurance by The EDGE Benefits
As an acupuncturist, you care for the health and well-being of your clients but, as a small business owner, you may not have the coverage needed to secure your physical or financial well-being in the case of a critical illness like cancer, stroke, heart disease etc.
Every day, Canadians receive the life-altering news that they have a critical illness. Besides the high cost of medical care, you face the loss of income if you’re no longer able to see clients. This can put you in an unfortunately hard financial position unless you have critical illness insurance.
In collaboration with The EDGE Benefits, SCORE Financial Services offers group plans to acupuncturists with critical illness options.
Why You Should Have Critical Illness (CI) Insurance
Critical illness insurance provides a lump-sum cash payout upon diagnosis by a physician. You can use this payment for whatever you need. Better yet, you won’t pay taxes on the critical illness payout. Your critical illness insurance can help cover treatment costs and travel and accommodation during treatment. It can also help you hire an in-home caregiver or make changes to your home to make it easier to get around.
As an acupuncturist who is a member of the Association of Acupuncturists of Quebec, you can seek an insurance plan that includes critical illness coverage. Critical illness insurance covers a lump sum payment that you can apply toward treatment, protecting you from risks associated with a serious health condition.
If you develop cancer, have a stroke, or suffer other medical emergencies, critical illness insurance can help make up the difference if your long-term care cost exceeds your health insurance maximum.
DID YOU KNOW?
- A cancer diagnosis will affect 1 in 2 Canadians in their lifetime and 1 in 4 Canadians will die from cancer.
- Stroke victims are more likely to be under age 65; almost 40% will suffer mild to moderate impairment, and almost 10% will be severely disabled, requiring long-term care.
- It is estimated that 1 of 4 Canadians will develop some form of heart disease during their lifetime.
How Does Edge Benefits’ Critical Illness Insurance work?
There are two tiers of coverage available to you through The EDGE Benefits. Anyone age 18 to 64 can purchase critical illness insurance coverage between $5,000 to $50,000 — the highest payout available in the industry. By answering a few questions, you can increase your coverage up to $100,000.
You spend your days alleviating the pain and discomfort of your acupuncture clients. Isn’t it time someone looks after you? You may worry that a pre-existing medical condition will result in disqualification. That couldn’t be further from the truth. You’ll still be eligible for affordable critical illness insurance from The EDGE Benefits.
The EDGE will pay your benefits again if you get sick with an unrelated illness. Most CI coverage begins and ends with a single illness. However, we know that’s just not how life works.
Finally, The EDGE Benefits will automatically increase your coverage limit 5% every five years you go without a claim. When you pay your premiums on time, you can accumulate a 25% increase in your benefit over the years, just by staying healthy!
What is Covered by The EDGE Benefits?
The only factor that impacts your premium is age. So, the sooner you sign up, the better deal we can give you. For a slightly higher fee, we’ll provide CI insurance for your children too.
Here is a list of adult critical illnesses covered by The EDGE Benefits:
- Aorta Surgery
- Benign Brain Tumor
- Alzheimer’s Disease
- Motor Neuron Disease, such as ALS
- Cancer Recurrence
- Coronary Artery Bypass Surgery
- Heart Attack
- Major Organ Transplant
- Loss of Independence
- Heart Valve Replacement
- Loss of Speech
- Severe Burns
- Major Organ Failure
- Multiple Sclerosis
- Occupational HIV Infection
- Parkinson’s Disease
Note: To receive the coverage payout, you must survive 30 days beyond the diagnosis date, and there are some exclusions, including self-harm, alcohol, or drug use disorders.
The EDGE offers child CI insurance of up to $10,000 for the conditions listed above, plus cerebral palsy, Down Syndrome, cystic fibrosis, and muscular dystrophy.
Purchase The EDGE critical illness coverage to protect your family if you are no longer able to perform your work as an acupuncturist. Additionally, we invite you to explore other products available through SCORE Financial Services, such as retirement plans and financial planning services designed to help small business owners and their employees accumulate and protect their wealth.
TAKE THE NEXT STEP
As an acupuncturist, it is important to protect your financial independence in the event of an accident or illness and to promote your physical well-being. In collaboration with The EDGE Benefits, SCORE Financial Services is happy to help you find the right insurance plan for you.