The various health-related foundations in Canada study the effects of critical illnesses closely. It is appropriate that we understand the risks associated with our health as we enter retirement. By understanding your health risks as you prepare for your retirement you can mitigate the following health risks using Critical Illness Insurance protection.

The Critical Illness (CI) insurance connection If you haven’t yet incorporated CI into your financial retirement planning, give us a call. We’ll help you understand the benefits and work the cost into your plan. Critical illness insurance can help cover the expenses associated with a life-altering illness that can ruin an otherwise great financial plan. Government health care programs only cover certain services, not 100% of the expenses incurred. Eligibility is often limited by the severity of your condition, your age and/or family income. Actuaries present related information to help insurers know how to manage the risk on behalf of the overall population.¹  The truth is that we are fragile beings who need to exercise and maintain a healthy lifestyle, in mind and body, while mitigating stress. The following graph backed by many studies by the leading foundations in Canada indicate the importance of acknowledging health risks as you plan your financial future.

The Canadian Hearing Society

• 280,000 Canadians are deaf
• 1,120,000 Canadians are hard of hearing
• 1,400,000 do not use amplification
• There are more than 2,800,000 Canadians with hearing loss

The Kidney Foundation of Canada

• Kidney disease ranks sixth among diseases causing death in Canada
• Each day an average of 8 Canadians learn that their kidneys have failed
• Approximately 2000 Canadians are on a waiting list for kidney transplant
• 351 kidney transplants were performed in Ontario in 1995
• 1 in 10 will develop kidney stones at some point in their lives

The Canadian Alzheimer Society

• Alzheimer Disease is the fourth leading cause of death in Canada
• Every year approximately 10,000 Canadians die from Alzheimer’s
• Approximately 1 in 100 Canadians suffer from Alzheimer’s disease
• There are approximately 22,000 people in Metro Toronto with Alzheimer’s
• The disease occurs in 8% of the general population over 60

The Multiple Sclerosis Society of Canada 

• More than 50,000 Canadians have Multiple Sclerosis
• MS is the most common neurological disease among young Canadians
• Canadians have one of the highest rates of MS in the world
• Women are twice as likely to develop MS as men

The Parkinson’s Foundation of Canada

• 30% of all Parkinson’s patients are under 50
• 20% of all Parkinson’s patients are under 40
• there are approximately 80,000 – 100,000 Canadians suffering from Parkinson’s

The Canadian Cancer Society

• more than 130,000 Canadians will be diagnosed with cancer this year
• over 60,000 people in Canada will die this year from the disease
• 1 in 3 Canadians will develop cancer in their lifetime
• 1 in 9 women will develop breast cancer
• 1 in 3 women and 1 in 2.5 men will develop cancer in their lifetime.

The Heart and Stroke Foundation

• 1 in 4 Canadians will contract some form of heart disease
• 75,000 Canadians suffer heart attacks each year
• Heart disease costs the Canadian economy approximately $19 billion every year in medical services, hospitalization expenses, loss of income and loss of productivity
• The rate of death among patients hospitalized for heart attacks has been decreased by half, from 16 per cent to 8 per cent
• 1 in 2 heart attack victims are under the age of 65
• 50,000 Canadians suffer a stroke each year
• 75% survive the initial event
• strokes are the leading cause of neurological disability
• 1/3 of stroke victims are under the age of 65
• 60% of stroke victims will be left with a disability
• bypass surgery is performed more on men than women by a ratio of nearly 4 to 1
• there are approximately 11,000 bypass surgeries performed in Canada each year
• the rate at which bypass surgery is performed on people age 65 and older has increased

The National Spinal Cord Injury Association of Canada

• There is an estimated 900 Canadians who sustain a spinal cord injury each year
• More than 30,000 Canadians suffer from paralysis of 2 or more limbs
• Most persons who suffer spinal cord injury are between 16 and 30 years of age
• The most common causes of spinal cord injury are car collisions and falls

The Canadian Aids Society

• Approximately 4.4 million health care workers suffer 800,000 needle sticks and other injuries from sharp objects annually
• An estimated 16,000 of these objects are contaminated with HIV

_{1 Canadian Institute of Actuaries}