Catastrophic Health Insurance Ontario
Catastrophic health insurance is a lower-cost insurance policy that features a higher annual deductible than that of a traditional health insurance policy. As the name “catastrophic” suggests, a catastrophic health insurance plan provides affordable coverage for health events that might wreak financial havoc on a household. Having a life changing illness or injury can be bad enough, this type of insurance can help pay for the costs associated with a catastrophic health event.
With catastrophic health insurance coverage, the insured pays out of pocket or through another insurance plan for their medical and drug expenses until the elected deductible amount is reached. In other words, you can typically reach your deductible by paying for expenses out-of-pocket, as well as by claiming expenses through an existing health insurance plan. If you have a group benefits plan with a drug limit (i.e., $1,000.00, $2,500.00, or $10,000.00) or capped medical services (physiotherapy etc.), they may not be enough should you suffer from a major illness or accident. The catastrophic health insurance coverage can be purchased for additional security and it is yours, meaning it is portable as you own the policy. You can purchase catastrophic health insurance as a stand-alone product or purchase an individual health plan and add catastrophic coverage, usually with a discounted price. The best part is that this type of coverage can be extremely affordable.
Quote and Apply Online:
We are proud to offer you online health and dental quotes through our partner, Manulife Financial. You can apply online as well, if you need any help please contact us. Through CT Insurance Brokers Inc. you will always have access to independent insurance brokers, experienced service, and unbiased advice.
Catastrophic coverage can be purchased with a health and dental package or on a stand-alone basis. Please click here to learn more or contact us today.