Protections to consider
Based on your personal and professional profile, we would recommend that you prioritize coverage as follows:
You don't have access to a group insurance plan through your employer or spouse? In accordance with An Act respecting Prescription Drug Insurance, if you are less than 65 years of age, you must maintain coverage under the AMUQ Prescription Drugs Insurance plan, for yourself and your eligible dependents.
Depending on your needs and the sum you are willing to allocate, you can also obtain, subject to satisfactory proof of good health, optional1 coverage such as the Extended Health Care plan.
1These options should however only be considered once you've met your more important disability income and life insurance needs.
Your financial obligations, future projects and retirement plans are all dependent on your ability to earn income. Accordingly, Disability Income insurance should be your number one priority.
By providing adequate income replacement, this coverage ensures that you are able to maintain the standard of living your family has become accustomed to.
If you have business obligations, office overhead insurance should be considered as well. It is designed to cover your business expenses in the event of disability and to prevent your having to use your savings or personal disability benefits to meet your business obligations.
To preserve your estate and protect the people you love in the event of your premature death, it is important to have adequate life insurance coverage. The insured amount should be sufficient to allow your family to maintain its standard of living, reimburse any outstanding debt as well as your funeral costs and provide for important future requirements such as funding your children's education.
Determining the amount of coverage required is not a simple task and it can be difficult to find one's way through the numerous types of life insurance products available. One of our experts will gladly help you determine the right amount and the right product!
Although the replacement income provided by your disability income insurance allows you to meet your ongoing obligations, the additional expenses you incur during a major illness could force you to use your personal savings.
AMUQ Critical Illness Insurance's lump-sum payment, which can be spent as you choose, allows you to better absorb costs related to your condition or allows your spouse to fund a leave of absence in order to accompany you throughout your ordeal.
Critical Illness Insurance ensures that the stress of a serious disease isn't compounded by a financial one.
Important: This tool is provided as a general overview of your insurance needs. As the type and amount of coverage required will vary, we recommend that you discuss your specific needs with your Vigilis advisor by calling toll-free 1 888 682-7772 or by writing to info@vigilis.ca.
