I heard my last company announce “annual benefits enrolment” every year, but I only focused on health insurance and didn’t really pay much attention to anything else. I recently started a new job and when I was enrolling in my benefits, I noticed that they also offered Life and Critical Illness Insurance. I had never considered these before because I didn’t know what would happen if I changed jobs. So, I called my parents to ask them if they think I should get coverage. They said that unless I was planning on being rich, it’s never a bad thing to be covered. Especially since I’m under 40 and it’s still pretty affordable.
I still wasn’t sure so I reached out to the Group Benefits Contact Centre who could help explain these policies in more detail. I ended up getting Critical Illness Insurance through my group plan. The insurance will provide a payout if I get sick and need help paying off some expenses because I’m unable to work.
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The content on this page serves as an example of a life event, meant for context and consideration when thinking about adding insurance to your portfolio. It is not meant to be taken as a recommendation and we always suggest you seek the advice from a licensed insurance advisor when making important insurance decisions. Products are offered based on plan availability, applications are subject to review, and claims are paid out on approval and are not guaranteed.