What is Critical Illness Insurance?

What is it?

A New Product for Changing Times

Critical Illness insurance was created over 20 years ago in South Africa by Dr. Marius Barnard, the brother of heart transplant pioneer Dr. Christian Barnard.  The idea behind this "dread disease" protection was to help people finance their recovery from serious illness without having to deplete their financial resources, re-mortgage their homes, or borrow funds from family and friends.

Critical Illness insurance (CI) pays a lump sum benefit, tax free, upon diagnosis of a life threatening condition.  Most comprehensive plans now cover between 20 and 24 such conditions and some offer partial benefits for less threatening illnesses.  Claims experience from various Canadian insurers tells us that most claims are for one of the "big 3" - cancer, heart attack and stroke.  The proceeds are tax free and can be used in any way you wish - for recovery, rehabilitation, alternative treatments, modifications to your home or vehicle, to pay down debts or your mortgage, to provide your spouse the opportunity to take time away from work to help you recover and so on.

Take action now to protect yourself and your finances from the effects of a life threatening or life altering illness.

Insurance products and services are offered through Arca Financial Group Inc.

I trust the folks at Arca Financial, and have always found them very responsive to my needs. The friendly customer service and the flexibility of my advisor are two of the factors I appreciate most. My advisor takes the time to educate me about the choices and lets me make the decision without any pressure. Everything I need, Arca is able to do for me.