Protection if you need it, a refund if you don’t.
Most of us have experienced or known someone whose family has been greatly impacted by a parent being diagnosed with a life-threatening disease or condition. But what about when it happens to children? Sadly, all too often children are affected by childhood diseases such as:
The emotional and financial impact of these types of diagnoses can be devastating for a family.
o Workingo Extra childcare expenses for other children in the familyo Extra expenses incurred by the illness.
While most life insurance companies in Canada offer Critical Illness protection for adults, not all offer similar coverage for children. Of those that do, Sun Life provides a particularly unique policy when combined with a Return of PremiumOption.
Bob and Sally purchase a $200,000 Critical Illness Term to 75 with Return of Premium Rider on their 5-year-old son, Michael. The annual premium for the policy is $1,393 ($462 of this premium represents the Return of PremiumRider).
o Age 40 $ 27,860o Age 45 $ 34,825o Age 50 $ 41,790
Sun Life’s Critical Illness Insurance plan with the Return of Premium Option for juveniles is a very unique plan that provides peace of mind if you need the protection and a full refund of your premiums if you don’t.
If you would like to explore this exceptional plan in more detail please call me and I will be happy to assist. Also, feel free to share this article with anyone you feel would benefit from this information by using the share buttons.
*- assumes application is made for non-smoker rates at age 18
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