Although life insurance is much more common, a strong insurance plan includes protection for critical illnesses as well. Critical illness insurance (CI) provides a one-time, tax-free, cash payment to help you and your family meet your financial obligations. Our Hometown team of licensed professionals take pride in serving Hamilton and the surrounding area with their critical illness questions and needs. You can quickly and easily get a quote before applying, and our team is always here to assist you in protecting your loved ones. We can’t wait to chat with you about your life insurance!
When making the decision of which Hamilton company to work with to get critical illness insurance coverage, you want someone you can trust. Our Hometown team takes pride in providing tailored service for each of our clients, to help you better understand your needs. Fortunately for you, our approach of serving each individual doesn’t mean we have to spend hours in multiple meetings, just to determine the proper coverage. Our team of skilled and licensed professionals are here to provide support by identifying your critical illness insurance need and providing quotes quickly. Our current clients love the simplicity of our process, paired with the expertise of our team, and we think you will too. It truly is the best of both worlds, a digitally enabled experience with a team of experts here to support you.
Your critical illness needs will change many times over your life. Significant life events such as a career change, promotion, getting married, having a baby, purchasing a home, or even starting a business can all indicate a change of insurance need. Your lifestyle or responsibilities may change in each of these circumstances, and your CI policy should be able to preserve your goals for the future, if you are diagnosed with a critical illness. Let our Hometown Life Insurance team work with you to understand your evolving needs, to ensure you and your family remain secure and protected.
The monthly premiums for your critical illness insurance policy, will be level for the entire term of your policy. You will have the option to select the coverage term you require, from a 10-year term, to a policy that provides term coverage to 75, or permanent. Whatever policy you select, your premiums will not increase during that term. You also have the option to extend your coverage to a longer term, or permanent coverage, and lock in your premiums for your new term. This conversion option is available to you without any medical underwriting at time of conversion, so you can be confident that you have affordable, life-long coverage at your disposal when you need it.
If you are submitting a claim on your critical illness insurance policy, start by contacting our Hometown team. We work to ensure that our valuable clients, in Hamilton and surrounding area, get their insurance payout as quickly as possible. First, we gather the information for the claim and submit it to the insurance company on your behalf. Being diagnosed with a critical illness can be a difficult and stressful time, so we will deal with the insurance company’s correspondence wherever possible, so you can focus on your recovery.
No – you will not be charged anything to get a quote or apply for critical illness insurance. In fact, even if there are medical underwriting requirements, it is all covered by the insurance company. The only cost to you is the monthly premiums you will be paying for your policy once it is approved and you accept it.
Yes – your critical illness insurance policy can be cancelled without any further fees. If you added a “Return of Premium” rider that has reached the required expiration date, you will receive all or a portion of your premiums paid to date back. Before making the final decision to terminate the policy, you will want to give consideration to a few items. First, do you still require coverage or are you expecting to require coverage in the future? You could be leaving yourself exposed to risk, or significantly higher premiums if this is true and you cancel your coverage. If your health has changed, you may even be declined for insurance in the future. Our Hometown team strives to provide the great people of Hamilton with valuable advice for informed decisions, so give us a call before cancelling your policy, so you can do what’s best for you and your family.
The application for your critical illness policy contains the information that allows underwriters to assess your risk and price your policy. A combination of the policy selections you made (coverage term, coverage amount, riders, etc.) and your personal details (health, medical history, occupation, lifestyle and family history) determines the appropriate rating. Once underwriting is complete, you will receive your approved policy, with the updated premium, so you can decide whether or not you want to activate it and start paying premiums.
“Riders” can be added to your critical illness insurance coverage based on your individual needs. It is important to start the process by understanding what is most important to you about your coverage. If you are looking for premium protection, you may want to include a return of premium at expiry, return of premium at death, or even disability waiver of premium. You can start by finding more information in our FAQ section on our critical illness insurance pages or by contacting us at Hometown Hamilton to find out how we can help.