COMMERCE 4FP3 Chapter Notes - Chapter 9: Critical Illness Insurance, Universal Life Insurance, Canada Health Act
Document Summary
Public, employer and private plans the three pillars of canadian health and life insurance. Canada health transfer: public administration, comprehensiveness, universality, portability, accessibility. Canada health act covers only basic medical needs. Supplementary benefits coverage for drugs prescribed outside hospitals, ambulance costs, hearing aids, vision care, medical equipment, appliances . Individual health insurance: coverage for drug, dental, and paramedical costs. Monthly insurance benefit paid to you when unable to work as a result of an. Provides a lump-sum benefit in the event that you suffer a life-altering illness listed in the policy. Covers expenses associated with long-term health conditions that cause individuals to need help with everyday tasks. Typically covers nursing care, rehabilitation and therapy, personal care, homemaking services, and supervision by another person. Disability benefit, not able to do everyday tasks, nursing home care. Two main categories: temporary (term insurance, permanent (whole life, universal life, term 100) Provided over a specified time period and does not build a cash value.
