preview

Critical Illnesses Essay

Decent Essays

No one plans to get sick, but sometimes, people get diagnosed with critical illnesses. These illnesses can be expensive, even in Canada. Provincial health plans cover essential services, but critically ill patients can end up paying for many other services out of pocket. Hospital parking, mobility aids, home modifications, wigs, and other costs can add up quickly and catch people by surprise. While these costs are adding up, critically ill people might not be working and receiving regular paycheques. This can lead to financial strain at an already difficult time. This situation is why critical illness coverage exists. This coverage provides employees with a lump-sum payment in the event they’re diagnosed with certain serious illnesses, like …show more content…

They should be able to focus on their recovery. With critical illness coverage, your employees will be able to do just that. The lump-sum payment they receive will help them handle the expenses that accumulate during their illnesses. Employees can use the payment they receive for any purpose. They could use it to replace their incomes, hire home care nurses, or make renovations to their homes. Critical illness coverage can also give employees more treatment options if they become ill. There’s usually a waiting list for care, even for serious illnesses. Canadians waited an average of 3.7 weeks to see a medical oncologist in 2016, according to Global News. The wait time for cardiovascular procedures was even longer at 8.4 weeks. Instead of waiting weeks or months to get treated, employees with critical illness coverage may be able to pay for faster care outside of Canada. Businesses Benefit, Too While critical illness coverage is very beneficial to your employees, it can benefit your business, too. Providing this type of coverage shows employees you care about them and their financial well-being. If employees need to use the coverage, their coworkers will see firsthand that your company is looking after them. This is good for morale, and any business owner knows how important morale

Get Access