Critical Illness Insurance - St. Catharines

Critical illness insurance (CI) provides you and your family with a financial security blanket in case you are diagnosed with a critical condition. Hometown not only offers life insurance, but also CI coverage for the residents of St. Catharines and the surrounding area. Our team of well-informed, licensed professionals can assist you in understanding the CI coverage options that will best serve you and your family. You can then, quickly and easily, get a quote and submit your application to protect your family. Our Hometown team is making it easier than ever to protect your family, so contact us to get started today!

Finding the right company to provide quality critical illness insurance coverage in St. Catharines is easier than you think! At Hometown Life Insurance, we pride ourselves on educating and assisting you – our valued clients – in protecting your family with proper critical illness insurance. Gone are the days where you have to spend hours in scheduled meetings with an advisor. Now with the help of our team of dedicated representatives, you can easily navigate our digital interface to obtain a quote and apply for coverage. We think you will love this modern experience, and look forward to your feedback so we can continue to provide you with the highest quality service for your insurance needs!

Once you find a trusted company to work with, finding your ideal product becomes much easier. We have a process that allows us to get to know you and what is important to you. That allows us to evaluate the critical illness marketplace and the coverages available, on your behalf. When you find your perfect coverage, we will continue to support you through the application process and beyond, by answering any questions you may have. Critical illness insurance provides you with a one-time, lump-sum, cash payment that you can use to protect the physical, financial, and mental health of you and your family. More information can be found on our critical illness insurance page, or contact our St. Catharines Hometown team to get started!

Critical illness insurance is an important component of an effective insurance plan for you and your family. Without CI, a critical illness may force you to withdraw funds from your investments or retirement savings, just to meet your financial needs. This could result in you sacrificing your retirement aspirations, even if your income is lost for a short period of time. Whether you are a primary income earner in your family or you are a caregiver, your contribution is valuable and spending time at appointments or treatments will cause financial strain without proper insurance coverage. CI ensures that your retirement savings can stay intact, and allows you the flexibility to take time off of work to focus on your health. It is also common to see families with young children insure their kids, so they would have the financial freedom to take time away from work for appointments and care for their child. You may have questions or an interest in learning more about critical illness insurance, our Hometown Life Insurance team servicing St. Catharines and the surrounding area is here to assist you in protecting your family.

Just like life insurance, your critical illness insurance needs will likely change over your life. Since critical illness is used to provide financial relief in the case of a poor health diagnosis, it is common for your needs to change if your income changes. Receiving a promotion, raise, or changing jobs may affect your coverage needs. In addition, getting married, having a child, purchasing a house, or many other significant life milestones also impact your coverage calculations. You should review your coverage regularly to ensure you have adequate protection. You may decide to start with a shorter-term coverage, such as a 10-year term policy, with the plan to convert to a longer term or permanent coverage in the future. Hometown Life Insurance is here to provide you with CI coverage that meets your ever-changing needs.

A helpful rule of thumb is that if you should have life insurance, you also should have critical illness insurance. A critical illness can destroy your family’s finances if you aren’t properly protected. CI provides you with a one-time, tax-free, cash payment that you can use to cover monthly expenses, treatments, and medications. You can even use it to top up your retirement savings or education savings for your kids, really anything you want it to do. Going without protection is a dangerous gamble, and securing coverage at an early age helps to keep your premiums down. Don’t wait, contact our Hometown Life Insurance team serving St. Catharines to get started now!

When you apply for your policy, your monthly premiums will be locked in for the selected term. Some of the most common terms for CI are 10 years, or term to a certain age like 75. Your premiums would not increase during the selected term and you would also have the option to convert to a longer term or permanent coverage. Converting would allow you to lock in your premiums for the new coverage, based on your age at time of conversion. The best part, you can convert your policy without additional medical underwriting, so you can ensure you have affordable, life-long coverage for you and your family.

Calculations for your critical illness insurance premiums consider the following details about you: age, gender, smoking status, medical history, lifestyle and family history. In addition, you will also select the coverage term and the coverage amount of the policy, both of which affect the monthly premiums as well. All of this information is included in your application, which is then reviewed by the insurance company’s underwriter for approval. When the policy is issued, you may receive a standard rating and pay the standard price, or you may have an increased rating due to health concerns.

When making a claim on your policy, our Hometown Life Insurance team serving St. Catharines will simplify the process for you. We will gather the required details of the claim and submit it on your behalf to the insurance company. At the time of being diagnosed with a critical illness, you will want to have the time to focus on your recovery, and we want to make that possible.

No, there is no cost to you to get a quote or apply for critical illness insurance with Hometown. Even if there are medical underwriting requirements or tests, you won’t pay for any of it! The only cost you will have is the monthly premiums you will pay to activate and maintain your coverage once approved.

Yes, you can decide to cancel your critical illness insurance at any time. There are no fees or costs to cancelling your policy, and you may even receive all or a portion of your premiums back if your policy has a “Return of Premium” rider. However, if you cancel your policy, you would have to reapply if you required coverage in the future which could mean higher premiums, or even being denied if your health has changed. Before cancelling your policy, it is important to speak to a licensed Hometown representative to understand your options, and the implications of cancelling. Protecting the great people of St. Catharines and the rest of Niagara is our job, and we want to sure you can make the best decision for your future.

Underwriting is the process of determining the risk level you pose to the insurance company. Based on your health, medical history, occupation, lifestyle and family history, the insurance company will calculate the likelihood of you making a claim and price your premiums accordingly. As the policy owner, you will have the opportunity to review the approved policy and decide if you would like to put it into place and start paying your monthly premiums.

Our St. Catharines clients of Hometown appreciate the ability to customize their critical illness insurance policy with riders. Some of the most common are return of premium at expiry, return of premium at death, and disability waiver of premium. You can find more information about the basics of CI and the available riders in our FAQ’s section on our critical illness insurance pages.