Critical Illness Insurance: Then You Were Diagnosed with Cancer

My name is Taivi Tayler, and I am a practicing Certified Financial Planner in the Province of Ontario. I help business owners grow their wealth, and plan to protect their financial legacy.

What happens if you are diagnosed with life threatening cancer?

I was speaking to a young business owner recently. We were doing some long term retirement planning and during our conversation she started to tell me about her best friend who is a lawyer running her own practice. The self-employed lawyer friend was 35, 2 little kids at home, a spouse and she was just diagnosed with life threatening cancer. 

Better hope you have critical illness insurance!

I hope the lawyer had a critical illness insurance policy. It would have taken the financial pressure off. She would be receiving a tax free payout for hundreds of thousands of dollars and she can use the money any way she wanted.

My client thought so too. We put a strategy together to ensure that if she were to be diagnosed with a critical illness, including heart attack and stroke, that her family, and she’s got 3 little boys, would be financially solvent. 

If you’re self-employed you need an exit strategy.

Reach out and find out how we can build yours. Tayler Insurance & Estate Planning Inc. We help business owners grow their wealth and plan to protect their finances.