Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Chances are you’ll recover Chances are your retirement plans won’t

Agenda  Getting better costs money  Planning for the unexpected  The impact on retirement savings

Getting better costs money

G E T T I N G B E T T E R C O S T S M O N E Y Likelihood of getting sick  Medical advances & healthy living  Longer life expectancy

It can happen to anyone G E T T I N G B E T T E R C O S T S M O N E Y The good news is that you will likely recover ! FACT The risk of being diagnosed with a critical Illness before the age of 75 is higher than your risk of dying in that time.

The costs of getting better G E T T I N G B E T T E R C O S T S M O N E Y  Unexpected and significant costs  Costs not covered by provincial or employee health plans

Critical illness insurance can help! G E T T I N G B E T T E R C O S T S M O N E Y  Provides cash benefit that can be used to:  Find the best health care available  Hire a nurse or caregiver  Pay off your mortgage  Provide income when you can’t work  Protect your retirement plans  Make sure your business survives  Take a vacation

Planning for the unexpected

P L A N N I N G F O R T H E U N E X P E C T E D Why get critical illness insurance?  Allows you to plan for the unexpected  Possible Return of Premium option – you’ve got nothing to lose!

How do I know which plan to choose? P L A N N I N G F O R T H E U N E X P E C T E D  Look for a plan that offers:  Best coverage for you  A partial benefit if your condition isn’t life threatening, but life altering  The ability to receive the benefit upfront  Return of premium options

The impact on retirement savings

What if you don’t have insurance? I M P A C T O N R E T I R E M E N T S A V I N G S  Required to work longer  Diminished lifestyle during retirement

Meet Joe & Mary I M P A C T O N R E T I R E M E N T S A V I N G S  Joe had a stroke at 45  Costs exceeded $100,000  Required to dip into RRSPs  Unrealistic to retire at age 65

Don’t let this happen to you I M P A C T O N R E T I R E M E N T S A V I N G S  Adding critical illness insurance to your financial plan makes sense  Get peace of mind knowing that if you get sick, you can focus on what really matters … getting better!