Creditor type insurance like bank mortgage insurances usually only cover the first three illnesses, heart attack, stroke, and life threatening cancer.
For many executives, a critical illness insurance policy is a good alternative to a disability insurance plan as it is frequently less expensive, pays out in 30 days even if you can go back to work, and it does not have the same income requirements.
Benefit Strategies can also provide you with estate planning advice.We recommend that your executive benefits plan include both critical illness insurance and disability insurance options.
Critical Illness Taxable Benefits
A critical illness insurance policy provides a lump sum payment (usually tax-free), which is yours to spend however you wish. All employer paid critical illness insurance premiums are not a taxable benefit to the employee and critical illness benefits are not taxable to the recipient.
Inquire About An Executive Benefits Package that Includes Critical Illness Coverage
Having a critical illness insurance policy as part of your Alberta executive benefits plan will provide you and your family with peace of mind in an ever-changing world.
Benefit Strategies can provide quotes for critical illness insurance policies for residents of Alberta in the cities of Edmonton, Calgary, Red Deer, Medicine Hat and Lethbridge.
To learn more about including Alberta critical illness insurance as part of your executive benefits package contact Benefit Strategies Inc.