Top 10 Reasons NOT to buy Critical Illness insurance – a larf :)

I was just visiting one of the offices from which I am associated and I notices a funny photocopy posted on a cabinet door with the above title written in bold. The list is an exaggerated one with the intent of demonstrating to Canadians that Critical Illness coverage is needed for living, not for dying. I am not certain as to the origin of this list, but I wanted to share with you:

10. “My spouse can go to work or i can get a second job to replace the income – no problem”

9. “My kids can help by getting a paper route, working at a fast food restaurant or both”

8. “My mortgage lender/landlord will understand that I can’t pay and will let us reside for free until I can work again”

7. “The tax man will understand if I don’t pay my taxes”

6. “Even if my car is repossessed, i can walk wherever I need to or call on family & friends to taxi me”

5. “Doctors take an oath to care for people – they won’t mind if i can’t pay them” 

4. “I pay taxes – so it’s easy to qualify for government disability programs”

3. “I can live off my savings – doesn’t everyone have a year or more of income stashed away?”

2. “I have disability insurance at work – I know it doesn’t need supplementing since i will always work there.  Since they will always offer disability insurance, what’s there to worry about?”

1. “I am 100% certain that i will never have a heart attack, stroke or cancer, will never require by-pass surgery or be diagnosed with any of the covered illnesses”

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