A good friend of ours has left a lucrative job in the Public Service (amongst all these cuts, probably not a bad idea!) and became a financial advisor.
Not knowing what the heck a financial advisor does, we decided to pay him a visit to see what the scoop was. All in all, we were impressed and I personally had my eyes opened to a few things I hadn’t really thought about. I do enjoy that this financial advisor in particular isn’t out to make money off of us personally, but wants to help us out in life and if he can sell us a product and get a commission from it, bonus to him.
One thing that I really thought about was the critical illness insurance and I thought I would talk about it here because there are certain unanswered questions on my end. I have disability benefits at work here, but I don’t have anything that would help me out if I had cancer and needed to take some time off for some treatments.
But I don’t know much about cancer treatments (or any critical illness treatments). Some questions that come up are:
– Does the provincial health plan pay for all treatments? Are some excluded?
– If everything is covered, do I sometimes fall into a waiting queue for certain tests that some extra cash can alleviate? Aka can money push me closer to the end of the line?
– On average with any critical illness, how much time do I have to take off of work? If I have six months on sick days, am I in the clear? Would I need the insurance to cover the days I use when I’m out of sick days?
– Ultimate question: Why do I need the extra money from critical illness insurance if I have a lot of sick days and the Government pays for my health coverage.
So these are some of the things flying through my head right now concerning that topic. Overall though, a second meeting is warranted and if he tells us we are in fine shape, then great! If not, we can decide what our life wants.