Gift of a lifetime: Permanent life and critical illness coverage

Parents dare not imagine for a single moment the possibility of one of their children receiving the diagnosis of a critical illness. Yet, for instance, childhood cancer remains the most common disease-related cause of death. At Richardson Wealth, we help our clients look for solutions offsetting the financial burden related to unfortunate and unpredictable health or accident events

Permanent life coverage

If you have the financial means to do so, insuring your children or grandchildren is a thoughtful present to give them. In fact, the best time to purchase life or critical insurance is when they are young and in fine health. 

By using a permanent life insurance coverage for your children or grandchildren, you guarantee their future insurability. Should they develop health issues, they would be covered for life. 

Insuring your children or grandchildren at an early age also makes for a smart financial strategy. When they reach maturity, you will be able to transfer to them the life insurance contract and the amount of money saved within the policy with minimal or no tax impact. Your children will then have the options of keeping it and being covered for life or using the accumulated funds for any personal purposes such as a deposit on a first house. 

Critical illness coverage

If your children or grandchildren were diagnosed with a serious illness such as cancer or a rare heart disease, you would need time off from work. You would like to help them fulfill a wish or a dream as soon as possible. By purchasing a critical illness insurance, the insurer will pay a lump sum tax-free, providing the necessary funds to allow you to take care of them.

Our Insurance Specialist can help you choose the right program. Do not hesitate to contact us for more details.



Insurance services are offered through Richardson Wealth Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC, NB, NS, NL and PEI. Additional administrative support and policy management are provided by PPI Partners. Insurance products are not covered by the Canadian Investor Protection Fund. Richardson Wealth Limited is a member of Canadian Investor Protection Fund. Richardson Wealth is a trademark of James Richardson & Sons, Limited used under license.