
HEALTH-CARE IN KAMLOOPS
Steve Lidguard offers a look at timely financial issues.
Will health-care expenses impact your financial plan?
According to the 2013 Sun Life Canadian Health Index™ report, many Canadians underestimate out-of-pocket health costs and too few are prepared to cover the cost of a major health event. The Index also shows that 40 per cent of Canadians face financial hardship after a serious health event.
The study found that:
- One in five Canadians isn’t financially prepared for bad health,
- 82% of Canadians realize that a serious health event could impact their personal finances, but only 13% have money set aside for uncovered health-care costs, and
- 40% of Canadians who had a serious health event reported financial hardship as a result.
Whatever stage of life you’re at, you’ll want to make sure you have a plan to protect both your family’s health and the financial plans you’ve been building. During your working years, the focus is normally on protecting your family income. As you move toward retirement, the emphasis shifts to protecting the financial resources that you’ve worked so hard to build.
Personal health insurance
When you don’t have health benefits through an employer, personal health insurance can give you greater control over your daily health care, dental, and emergency medical expenses. It can also help you pay for other services such as massage therapy and chiropractic care that help keep you healthy.
Disability insurance
Your ability to earn an income is your most valuable asset. If you’re unable to work because of a disability or illness, disability insurance replaces a portion of your income.
Critical illness insurance
Recovering from a serious illness can be stressful and costly. Your finances are the last thing you want to worry about. Critical illness insurance can give you money to help you manage everyday expenses like mortgage payments and your family’s activities, while still contributing to your retirement savings.
Long term care insurance
Settling into retirement can be full of twists and turns, with changes to finances, health and relationships.
It might be difficult to imagine the care you’ll need as you age. If you’ve ever provided care for a loved one, you can appreciate why it’s important to plan for your own health-care needs in retirement.
Your health and personal-care needs will change over time. It may begin with minor health problems. But, an unexpected health event, accident or chronic health problem may be more severe, causing day-to-day activities to become very difficult. Long term care insurance can help you protect your retirement plans.
I can help you build a holistic plan that will protect your savings throughout your working years, allowing you to retire your way.


BROUGHT TO YOU BY
Steve Lidguard
275 Lansdowne St, Suite 600
Kamloops, B.C., V2C 1X8
Tel: 250-374-5308 ext.227
Cell: 250-574-1284