Critical Illness for Families with Children

Financial Planning: Critical Illness for Families with Children

In the latest Street Smarts with Taayla video, I’m discussing the ways you can take preventative measures to protect your family in the instance that your child falls ill with a critical illness. Parents will do everything they can to protect their children from harm. But most times, that doesn’t include envisioning a future where their child falls critically ill. While this is an uncomfortable topic, it’s an important one, as the repercussions of a critical illness can significantly impact your family in many ways.  

The Impact of Critical Illness

It’s hard enough to imagine ourselves in this situation, so how can we even entertain the idea that it could happen to our children? When I talk to parents about critical illness insurance for their young ones, they don’t usually see the need for it. However, with over 900 new cases of children being diagnosed with cancer each year, I believe it is important to help families prepare for the worst case scenario.

Some of the challenges that can result in financial stress include:

  • Alternative medicines that can add up to hundreds of dollars each month.
  • The need to hire extra help to help around the home.
  • Loss of income revenue or the ability to work due to emotional or psychological distractions.
  • Having to take time of work to be with your child at home, or in the hospital.
  • Putting retirement or travel savings plans on hold to pay for medical expenses.

Consider Critical Illness Insurance for the Family

The emotional and financial strain for families with sick children can go beyond a few months into years of hardship. This is why I urge parents who have coverage for themselves to consider getting critical illness insurance for the rest of the family. Critical illness insurance for your children is valid for the rest of their lives, even as grown-ups. While it may not lessen the heartache of the situation, a critical illness insurance plan can help parents focus on what’s most important – the health of your child.

Thank you for trusting me to speak on this difficult subject and I hope that you are encouraged to make the best decision for your family; to cover all your bases and focus on living an excellent, secure life!

I’d love to hear your feedback, or if you have a similar story, please share with us in the comments below! I will do my best to help support you through it. Please like and share this video, and subscribe to our channel: Engrace Financial Solutions, financial success made simple.


What is critical illness insurance

What is Critical Illness Insurance?

What is Critical Illness Insurance? It is a policy that helps you prepare for the unexpected. It also protects you from income loss in the case that you should suddenly fall ill with a critical illness. Some of these illnesses include – but are not limited to – cancer, heart attacks, strokes, MS, and Parkinson’s. Often times, this policy is regarded as “the cancer policy”, as cancer patients account for two out of three claims. Watch our latest Street Smarts video to learn about the best way to financially prepare for critical illnesses.

When is the best time to apply for Critical Illness Insurance?

Create security for your financial future with Critical Illness Insurance. The best time to apply for this insurance policy is when you are healthy, because this ensures you will qualify for the best coverage. Our latest Street Smarts video outlines this policy in greater detail.

What does Critical Illness Insurance cover?

Over 25 different critical illnesses are covered by our policy, coming into effect 30 to 90 days after you are diagnosed with a qualifying illness. Once this period has passed, you will receive a lump sum cheque of your benefit amount to cover the period of time when you are unable to work. Think of it as a financial cushion to assist with paying bills, additional unexpected medical fees, or even the cost of a vacation. Ultimately, our policy ensures that you have more choices in the instance that you do fall sick with a critical illness.

How do I get started with Critical Illness Insurance? Contact us today for help.

Don’t hesitate! Consider the benefits of Critical Illness Insurance today. Watch the video to gain more clarity about the policy. Contact us here, give us a call at 604-428-8765, or send us an email at, and we will do our best to help you prepare for the unexpected.

Don’t forget to comment, like, subscribe, and share this video for more great content coming your way each month.