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DFSIN Rexdale Financial Centre

News

Good news: We're living longer!
May 31, 2017
Good news: We're living longer!

Improved nutrition, better public hygiene and advances in medicine are all contributing to the steady increase in life expectancy.

 

However, with a longer lifespan it becomes more likely that we will develop a critical – yet treatable - illness or have a serious accident in which we'll pull through. Some may live for so long that they may slowly lose the ability to care for themselves adequately. This is still good news because in earlier times the alternative could be death. More good news is that there are also various types of life and health insurance – called living benefits policies that pay you while you're recovering.

 

"However, I'm sure there are many people saying – that's not me. I'll never develop a serious illness or suffer a debilitating accident," says Orlando Ali, Managing Director at the Desjardins Financial Security Independent Network Rexdale office located in Etobicoke. "Some young people can't even see themselves growing old – it's just too far away!"

 

Orlando would like to share some health statistics from various health agency websites:

 

Public Health Agency of Canada claims that an estimated 1.6 million Canadians have heart disease or are living with the effects of a stroke.

 

One in every 68 employed workers in 2010 was injured on the job and received workers compensation according to Human Resources and Skills Development Canada calculations based on data from Association of Workers' Compensation Boards of Canada. Some workers aren't even eligible for benefits.

 

The Canadian Life and Health Insurance Association states that the average cost of a long-term care bed is almost $46,000 a year, while home care is over $15,000 a year.

 

"Fortunately, there are many different kinds of insurance polices to help take the financial strain off of you and your family," says Orlando. Critical illness insurance pays a tax-free lump sum payment after diagnosis of a serious illness. Disability insurance pays a benefit every month that a person is unable to work protects based on a percentage of income. Long-term care insurance pays a tax-free monthly benefit after the loss of independence due to accident, illness or the effects of old age.

 

Please contact me to discuss the "living benefits" options that may be right for you.

 

Orlando Ali JR

Director, Sales and Business Development

Desjardins Financial Security Independent Network

416-743-1239, ext 232

oali@dfsin.ca

 

This article is for general information purposes only and should not be construed as insurance, investment or tax advice. The information contained herein is based on sources and materials believed to be reliable, but are not guaranteed. Please refer to the policy for more detailed information.

 

 

*Mutual Funds distributed through Desjardins Financial Security Investments Inc. 

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