The Plan by Investors Group^TM

Managing the forgotten hazards

It is easy to recognize the value of insuring your life, home and possessions, but more difficult to recognize the need for secure coverage in anticipation of disability or critical illness. We can help you ensure these events do not become the "forgotten hazards" of personal financial planning.

The hazards

Disability and critical illness insurance are not interchangeable. They require different solutions.

Disability insurance is designed to replace lost income from employment or a business should you become ill or injured and unable to earn an income for an extended length of time. It provides a regular stream of income for you and your family to meet ordinary expenses, such as housing and food.

Critical illness insurance pays out a lump-sum benefit should you be diagnosed with any number of specified illnesses (including cancer, heart attack, stroke, paralysis and so on). You can use this money however you like: to invest it to produce an income stream, meet unexpected expenses such as medical treatment not covered by provincial health care or private plans, make necessary renovations to your home, or pay down your mortgage. Critical illness insurance can also help to relieve a burden of business debt. This can take a weight off your shoulders and give you time to recuperate without having to return to work too soon.

Are you covered?

If you have group disability coverage through your employer, it may not be sufficient to meet your needs. If you leave the company, you leave the plan as well. Professionals and independent business people should seek out independent coverage. Individual policies may be more expensive than group coverage, but the potential cost of not having coverage when you need it is much higher. On the plus side, individual disability policies are more readily tailored to meet your unique needs and may provide benefits for a longer period of time.

Speak to your Investors Group Consultant to find out more about incorporating disability and critical illness insurance into your overall financial plan.

--------------------------
Written and published by Investors Group as a general source of information only. It is not intended as a solicitation to buy or sell specific investments, nor is it intended to provide tax, legal or investment advice. Readers should seek advice on their specific circumstances from an Investors Group Consultant.