Sofie Bruce

Sofie Bruce is a licensed insurance broker in the province of Manitoba and owner of Bruce Benefits. Sofie has been working in insurance for almost 20 years and focuses on group health insurance for small business and individual insurance including life insurance, disability insurance, and critical illness insurance.
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You are currently viewing Financial Protection When an Illness Strikes

According to the Public Health Agency of Canada, 38% of Canadians (aged 20 or older) have a ‘chronic disease’ like heart disease, diabetes, etc. They are long-term, generally progressive medical conditions and are major causes
of disability and death.

‘Critical illnesses’ are life-threatening conditions such as cancer, heart attacks, and strokes and they too can lead to disability and death.

For an employee, chronic and critical illnesses come with new costs for medication and other treatments. A portion of these costs can typically be covered with Extended Health Care benefits. If the illness leads to a period of disability and inability to earn an income, Disability coverage replaces a share of an employee’s lost income, helping them to afford their household needs.

Often with critical illnesses additional costs crop up for things like mobility aids, adaptations to the home, and many other sundry needs. This can clearly cause stress for the employee, both personal and financial. Critical Illness insurance assists with a lump sum payment and can go a long way in supporting the life adjustments of a person who survives such a major illness.

But what about business expenses? Purchased in conjunction with Long Term Disability, the Chambers Plan offers a Business Overhead Expense benefit for owners who become totally disabled, and whose services are essential to produce income for the business. The benefit provides coverage for a number of business expenses including rent, utilities, equipment leases, and more.

Occurrences and costs of chronic and critical illnesses are rising, and medical authorities value prevention as the most cost-effective course of action. But when a major illness strikes, so can financial stress. Chambers Plan benefit options help meet those financial demands so individuals can focus on their recovery.

Brought to you by your Chambers of Commerce Group Insurance Plan® advisor, representing Canada’s largest group plan for small business.