Critical Illness Insurance - What The Experts Own:

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Critical Illness Insurance Expert: Kelsey Blinkhorn

Kelsey Blinkhorn GBA, CHS, CPCA Blinkhorn Benefits Group 1. What Type of Critical Illness Insurance Do You Own? I own a non-cancellable, level premium to age 75 policy with a face amount of $100,000. My policy includes both return of premium on death and return of premium on surrender. 2. What Factors Did You Consider When Determining The Coverage Amount I purchased my policy at age 23. At the time, I determined the appropriate amount of coverage was between 1x and 2x my annual ...
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Kevin Cahill | Founder of Canadian Legacy Builder

Kevin Cahill Canadian Legacy Builder Kevin Cahill, B.Sc.(Hons), CFP, CHS, CLU, EPC Founder, Canadian Legacy Builder 1.What type of Critical Illness insurance do you own? I own $250,000 face amount of coverage to age 75. 2.What factors did you consider when determining the coverage amount? In November 2001, my soon to be father-in-law's mother passed away. She was in her 70's when she was diagnosed with a brain tumour. Three months later my father-in-law, who was a business owner, ...
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Sean Cooper | Pension Analyst and Financial Journalist

Sean Cooper Pension Analyst and Financial Journalist 1. What Type of Critical Insurance do you own? Like a lot of companies, my employer offers optional critical illness insurance. I’m able to take advantage of low group rates. I can apply for up to $200,000 in coverage. My plan covers 25 critical illnesses, including blindness, cancer, heart attack, kidney failure and stroke. 2. What factors did you consider when determining the coverage amount? I decided against buying ...
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Brian So | Insurance Advisor, Brian So Insurance

Brian So Insurance Advisor at Brian So Insurance 1. What type of critical illness insurance do you own? I own a term-10 policy with $100,000 of coverage. 2. What factors did you consider when determining the coverage amount? I first considered the cost of income replacement should I be away from work while receiving treatment. I also considered medical expenses not covered by Medical Services Plan (MSP). 3. Do you think people underestimate the importance of critical illness ...
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Mark Seed | Editor-in-chief of My Own Advisor

Mark Seed Editor-in-chief ofMy Own Advisor 1. What type of Critical Illness insurance do you own? My wife and I don’t own critical illness insurance. However, my employer provides coverage for, basic life insurance, long-term disability coverage and business accident travel insurance.I hope I never use any of these benefits through work. I recall that my disability insurance is 67% employer-paid and 33% employee-paid. 2. What factors did you consider when determining ...
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Barry Choi | Personal Finance & Budget Travel Expert at Money We Have

Barry Choi Budget Travel and Personal Finance Expert at Money We Have 1.What type of Critical Illness insurance do you own? I actually depend on my employer short and long term disability insurance plans. Both plans are quite generous and would cover me in the event I had a critical illness. 2.What factors did you consider when determining the coverage amount? Since it's my employer plan, I really have no say; I'm automatically enrolled as a full-time employee. That ...
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William Shung | Senior Insurance Advisor

William Shung Senior Insurance Advisor | LSM Insurance 1.What type of Critical Illness insurance do you own? I own a permanent level premium critical illness insurance policy. 2.What factors did you consider when determining the coverage amount? The purpose of critical illness insurance is to provide for unforeseen expenses. Most importantly, the insured amount should be sufficient to finance any treatment required if diagnosed with a critical illness. When deciding on the ...
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Chad Larmond | Principal at LRM Insurance

Chad Larmond Principal,LRM Insurance 1. What type of Critical Illness insurance do you own? The type of critical illness insurance that I own is a level premium to age 65. It has a 100% return of premium at age 65 if no claims are made. 2. What factors did you consider when determining the coverage amount? A good range to consider is one or two years worth of your gross or net income. I purchased my plan early in my career so I secured an amount that I am able to grow ...
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