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summer 2009 |
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F I N A N C I A L
Are your
retirement savings protected?
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Stock Photo |
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What would happen to your
future savings and retirement plan if today you were to become
physically dependent, suffer a cognitive impairment, or if you became
critically ill?
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By Joan McCarthy |
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What would happen to your future
savings and retirement plan if today you were to become physically
dependent, suffer a cognitive impairment, or if you became
critically ill?
You know better than most that the chances
of surviving a critical illness are pretty good. You also know that
thousands of Canadians today need assistance from another person to
perform two or more of the following everyday activities that we take
for granted: bathing, dressing, feeding, transferring, toilet or
continence issues, or the need for continual supervision because of
deteriorated mental ability.
No one chooses to be in a position to
require long-term care or to fund the cost of recovery from a critical
illness. By establishing a foundation of protection today that can cover
the cost of unforeseen health events, you can avoid compromising your
future dreams or your quality of life.
Consider integrating long-term care and
critical illness insurance into your overall wealth management plan.
Having long-term care insurance protection
provides you with the ability to choose your own amount of tax-free
income benefit, and provides maximum choice regarding type of care, who
provides that care, and how the money is spent. Long-term care insurance
can provide coverage for a lifetime — and it’s designed to protect
assets and pay for personal care, regardless of whether you’re still
working, or have retired.
Having critical illness insurance
protection provides you with a tax-free, lump-sum payment if you’re
diagnosed with one of the covered conditions, as defined in your policy.
You can use the money as you please to fund the cost of your recovery.
Once you purchase the critical illness policy, premiums are guaranteed
for the duration of the policy.
For more information, visit the MD
Financial website or
call (800) 229-1798
MD Financial includes CMA Holdings
Incorporated companies offering financial planning and a banking
referral service through MD Management Limited, mutual funds by MD Funds
Management Inc. and MD Private Trust Company, investment counselling
services by MD Private Investment Management Inc., estate and trust
services by MD Private Trust Company and insurance products by MD Life
Insurance Company and MD Insurance Agency Limited.
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