To me financial death happens when we are not prepared for the future, and some unforeseen event takes place in our lives that disrupts our whole financial environment. It is so important, I cannot stress enough how important it is to protect your income (don't experience the living death) your today and your tomorrow, while you are alive.
To avoiding financial death no matter what the circumstances. First and foremost protect your income with an individual income protection insurance. which will provide an income for you from the first day to a lifetime, it will pay your bills, if you had an accident at work or at play.
Protect your life by taking the worry away with critical illness Insurance. Unfortunately, by 2010 7 million Canadians will have some form of serious illness or disability. Sadly, many have been struck with cancer, I have been told by doctors that for every two patients they see one is diagnosed with cancer, this is horrifying. Do not delay, protect your life with critical illness insurance. It will give you a lump sum, that you can use in which ever way you wish, it also comes with find best doc, which provides access to some 50,000 specialist around the world. It gives you a second chance.
Long term care insurance
As we, as a population age, we start to experience different signs of wear and tear within the body, depending on the life style that you lead, to the servility of the break down of your body. As government health cards cover less and less, long term care becomes more important, as it covers the uncovered. It helps you cover the cost of care when you are no longer able to take care of yourself, and become functionally dependent. The cost of care in Ontario has risen so much in recent years and they continue to rise. Long term care insurance provides you with tax free money to pay for those added expenses, that is not covered. A great feature that comes with this insurance, allows your family to get the premiums back in the event the you die and claim is not made.