Average age of Canadians looking online for critical illness health insurance quotes
Critical Illness Health Insurance
Kanetix (www.kanetix.ca), Canada's insurance marketplace, released the results of a study that show the average age of shoppers getting online critical illness insurance quotes was 42 in 2006 - coincidentally the same average age as individuals shopping online for life insurance.
"Like life insurance, critical illness insurance is usually something we only consider as we age, assume more responsibilities and acquire assets we want to protect," explains Gregory Ellis, Co-founder of kanetix. "By age 42, many Canadians have children, mortgages and plans for retirement. Unfortunately, this is also around the time when we start to witness first-hand our friends, family and colleagues afflicted with a critical illness. Thankfully, due to medical advances many survive, but the cost of recovery - like time away from work - can often be disastrous."
A unique product, critical illness insurance provides a lump sum payment to help with the cost of recovery should the insured become critically ill during the term of the policy. It is often used to help maintain a pre-illness lifestyle. The lump sum payment comes at a time when it's needed most, to be used in any way. This can mean covering extra health care bills, alternative medicines, business expenses, pay off debts or a mortgage, home renovations or treatment abroad