What is Catastrophic Medical Insurance – Do you need it?

In Canada, the universal healthcare plan covers “medically necessary services” free of charge. Beyond that, many people have health benefits covered through an insurance plan at work, which leaves most feeling relieved that their health care needs are financially taken care of. But, have you ever considered what would happen if you were unable to perform at your job because of an illness or accident? It would be a hard bill to swallow if your benefits didn’t end up covering treatments like a speech therapist or a trip to the chiropractor.

With no income and minimal health benefits, an accident, disease or illness would be devastating to you and your family, whether physically, mentally or financially. Many people don’t plan for such events, or consider how they would support their family when faced with that kind of situation. That’s where catastrophic medical insurance comes in.

Designed with you in mind, it will take care of your financial needs during such times. Everyday medical expenses, with $25,000 per year, per person, per injury or sickness for related charges and services, as well as a $2,500 deductible per person is eligible for claim. With Catastrophic Medical Insurance, you know will be able to breath easier knowing that your financial woes will be covered if anything were to happen.