February 20th, 2015 → 3:30 pm @ MacDev Financial Group| Stephen Devlin // No Comments
Forget lazing around in the Bahamas. Last year, over 40,000 Canadians hopped across country lines not to sip Pina Coladas, but to get medical attention. It’s pretty scary when 1% of medical patients actively make the statement, “Anywhere but here” when it comes to where they seek treatment and procedures.
Nadeem Esmail, director of health policy at The Fraser Institute and co-author of a study on the topic of Canadian medical tourists noted, “Canadians may leave for a number of reasons, including a lack of available resources or appropriate technology, a desire to return more quickly to their lives, to seek out superior quality care, or perhaps to save their own lives to avoid the risk of disability.” The report ends grimly, pondering just how many more people will pay to escape poor health care.
So let’s say you have an urgent medical issue, and the wait time of 9 weeks to consult with a specialist sounds more than inconvenient – it sounds life threatening. A quick Google search tells you a specialist visit in America can be up to hundreds of dollars, and tests like a CAT scan or MRI go into the thousands. Not to mention flights, hotel stays, and meals, and other incidentals that come about with leaving home. Clearly, your life is valuable enough to want to put down the money. So the question becomes how?
One option to solve your financial concerns could be a whole life insurance policy. Think of it this way: your life insurance policy should do more than help you when you’re gone. Whole life insurance gives you piece of mind now by allowing you to borrow against yourself. No banks. No loan approvals. No being denied. Your money, when you want it. Granted, your other option in this scenario is just to not get medical attention – and any life insurance you have will kick in for your next of kin sooner rather than later
We’re happy to talk to you about if a whole life insurance policy is right for you so we can improve your quality of life now.
Tags: CPA, Financial Advice, retirement advice, retirement information, Tax Advice, Tax Information, Tax Tips
