Insurance is about more than just premiums and payouts. It’s about peace of mind and protection for your future. As an insurance broker, I believe that our role is to educate and support our clients, not to aggressively sell a particular product.

This is why I always prioritize a complete understanding of your insurance needs, which often starts with looking into Disability Insurance. Why? Because it is more comprehensive and covers a valuable asset – your ability to earn an income. Disability Insurance pays out for any condition that prevents you from doing your job, unlike Critical Illness policy, which only covers certain conditions.

Data from RBC’s claims statistics supports this point, showing that 66% of Critical Illness claims are for Cancer, whereas 11% of Disability claims are for Cancer. Disability Insurance also pays out for conditions like Musculoskeletal or Mental Health Disorders, among many others.

But if you already have sufficient Disability coverage, then Critical Illness insurance could supplement that. The risk of cancer, heart attack, and stroke is high over your lifetime. Having extra financial support during a difficult time may help reduce stress and let you focus on recovery. Critical Illness insurance can help a loved one take time off work or pay for additional care not covered under government or group benefits.

Remember, it’s ultimately your choice to purchase. No one needs insurance when they are healthy, but everyone benefits from having it if they happen to fall ill.

Have you had a chance to review your insurance needs recently? Feel free to reach out – my job is to help you understand your options so you can make an informed decision.