Critical illness on the rise yet most Canadian parents not adequately insured

TD Insurance and stress expert Beverly Beuermann-King share how critical illness insurance can help families avoid financial & emotional duress

TORONTO, Nov. 1, 2011 /CNW/ - Despite the prominence of cancer, stroke and heart disease in Canada, a new poll by TD Insurance found that 65% of Canadian parents with children still living at home don't have critical illness insurance.  About one-in-two Canadians will develop cancer in their lifetime, and 1.6 million Canadians currently have heart disease or are living with the effects of a stroke*.

"The good news is that thanks to medical advancements, many people are surviving critical illnesses and living longer, fulfilling lives with their families," says Dave Minor, Vice President, TD Insurance. "But recovering from a serious illness can be expensive and other forms of insurance may leave a gap in your coverage. Critical illness insurance is designed to fill this gap and reduce the impact that an illness has on a family's overall financial health."

Critical Illness insurance payments help free up money the insured can use for health-related expenses - like physical therapy, medical equipment, child care and babysitting services, or even home modifications - to help the policyholder recover completely without financial worries or lifestyle compromises.

"Suffering from a serious illness is an incredibly difficult time for the patient and their loved ones," says stress and wellness expert Beverly Beuermann-King. "There is so much to deal with - making decisions about care, remaining financially stable and meeting the family's day-to-day needs, all while coping with a myriad of emotions. Critical illness insurance can help families get through that time. It lets the family focus entirely on fighting and recovering from an illness together, instead of worrying about how to make ends meet."

Minor says families should consider critical illness insurance as an integral part of their household's overall financial health. "No one plans to get sick, but it's important to ensure your family is covered in the event that something unexpected happens. Everyone's situation is different, so it's important to speak to an expert so that they can recommend a policy that works for you and your family."

* http://www.phac-aspc.gc.ca/media/nr-rp/2011/2011_0919-bg-di-eng.php

About the TD Insurance 2011 State of Insurance Report

TD Insurance commissioned Environics Research Group to conduct a custom online survey of 1,000 Canadian adults. Results were collected between March 5 - 13th, 2011.

About TD Insurance

TD Bank Group's insurance companies and operations carry on business under the TD Insurance brand. TD Insurance offers a wide range of products to help protect clients from the 'accidents of life' including credit protection, life, health, travel, home and auto insurance. With more than three million clients, TD Insurance authorized products and services are available through a network of more than 1,000 TD Canada Trust branches, the Internet and telephone. The TD Insurance brands include TD Insurance Credit Protection and TD Insurance Life and Health, which are the number one provider of critical illness insurance and direct life and health premium origination in Canada. And through its TD Insurance Meloche Monnex and TD Insurance Home and Auto brands, TD Insurance is the largest direct-response insurance group in the country. For more information, visit www.tdinsurance.com.

SOURCE TD Insurance

For further information:

Liz Christiansen / Caitie Croza
Paradigm Public Relations
416-203-2223
lchristiansen@paradigmpr.caccroza@paradigmpr.ca
    Samson Yuen
TD
416-308-8905
samson.yuen@td.com

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