Having a good financial plan is crucial in the event of a critical illness.  Having sufficient finances to cover all expenses can make the situation less stressful for all parties involved. 

Critical illness insurance is never thought about enough: the stage of life, retirement decumulation, the different risks that come with it…  We listen from friends, neighbors, advisors, or even the web. Everybody has full access to information but it’s really important to slow down and let someone in that industry explain everything to you before making an informed decision. 

In today's crossover episode of Mind Your Biz Podcast we are joined by Dr. Yatin Chadha. He is the host of Beyond MD Podcast, which he launched in  2020, that focuses on financial literacy. The content is provided by subject experts but is steered by Dr. Yatin Chadha to ensure relevance to healthcare professionals in Canada. 

Tune in as we uncover more of Critical Illness Insurance!

Highlights:

[07:24]Demystifying Critical Illness Insurance (CI) and its difference with  Disability Insurance (DI)

[10:08]What is the coverage of Critical Insurance? 

[12:41]Living in Canada: Do I Need It? 

[17:47]Critical Illness: Personal, Corporate and Shared Ownership  (Dollar CI)

[20:44]Return of Premium (ROP): The Popular Feature of CI

[27:44]What is Loss of Independence?

[29:46]Two Different Types of Policies for Children

[33:45]Considering CI: Must-Ask Questions 

[37:35]Retirement: What is Sequence of Return

[43:02]Retirement: What is Longevity Risk

Links:

Website:http://beyondmdpodcast.com/ 

LinkedIn:https://www.linkedin.com/in/yatin-chadha-29074b109/ 

Facebook:https://www.facebook.com/yatin.chadha.3 

Instagram:https://www.instagram.com/beyond.md/ 

Twitter:https://twitter.com/yatinchadhamd 

Things Mentioned:

Ontario Securities Commission

Advisor’s Eagle

Mayor Hazel McCallion of Mississauga