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Melissa Carroll

Living benefits are a type of insurance to give you peace of mind in the event that you become injured or suffer from a critical illness. Within the living benefits category, there are two types of insurance: long term disability and critical illness. Both offer financial protection but are quite different in nature. See below for an overview of each.


Overview of Long Term Disability Income Protection

Long term disability (LTD) is one of the most pertinent types of insurance to consider, and here’s why. It protects your ability to earn an income. If you are sick or injured and need to take time off from work for an extended period of time, LTD coverage will provide you with a source of income until you are healthy enough to return to work. This means that you can have peace of mind knowing that your core expenses can be taken care of while you’re taking care of yourself.


Overview of Critical Illness Insurance

Critical illness (CI) insurance protects you in the event that you are diagnosed with a critical condition. The majority of CI policies cover around 25 conditions, including many forms of cancer, strokes and heart attack. When faced with a critical illness, the lump sum payment will be paid out after you’ve fulfilled a designated wait period as defined by your policy. This financial reprieve can aid in covering costs associated with your care or help to support family members who may be taking time off to help care for you.


It’s important to have a sound financial plan, and invest in your future carefully.  But every good plan is only as strong as the foundation it’s built on.  Speak to a Consultant about the best way to protect your family and your assets.


Melissa Carroll

Melissa has over 17 years of experience in the insurance industry working in administration, and became licensed in 2008. She is responsible for all aspects of individual insurance for HMA, and is LLQP (Life License Qualification Program) certified. Melissa also enjoys travelling when possible, and has future plans to buy a home in the Caribbean.
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