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WHAT'S NEW

Hospitalization Insurance - Now Available

HOSPITALIZATION INSURANCE  

No matter your age or state of health, no one is completely safe from an accident or a medical condition requiring hospitalization.  The costs of a hospital stay can sometimes prove to be very high and can make the experience even more painful.  Among these costs are:

  • a private or semi-private room;

  • parking, a restaurant meal, television;

  • complementary care and services;

  • costs related to convalescence (physical therapist, housekeeping help, nursing care);

  • loss of revenue.

The following figures come from the Statistical Report on the Health of Canadians and concern the frequency and duration of hospitalizations in the country.

Age Group

Sex

Number of Days

Number of Hospitalizations

Average Stay    (in days)

Younger than 5 years

Male

501 000

117 385

4

Female

361 000

81 741

4

5 to 14

Male

312 000

68 604

5

Female

254 000

57 763

4

15 to 24

Male

514 000

78 961

7

Female

864 000

225 182

4

25 to 34

Male

780 000

106 228

7

Female

1 645 000

423 861

4

35 to 44

Male

1 074 000

139 082

8

Female

1 382 000

229 417

6

45 to 54

Male

1 319 000

157 963

8

Female

1 388 000

166 233

8

55 to 64

Male

1 964 000

193 291

10

Female

1 853 000

164 874

11

65 to 74

Male

3 512 000

267 985

13

Female

3 656 000

239 475

15

75 and older

Male

4 981 000

260 611

19

Female

9 151 000

342 110

27

 

 

 

 

 

Statistical Report on the Health of Canadians 1995-1996

These figures clearly reveal that:

  • The risk of being hospitalized and the length of stay markedly increase with age;

  • The age groups of 55 and older are particularly vulnerable.

TARGETED MARKET

The needs are real, and considering our aging population, prospects are very favourable for growth in hospitalization insurance sales.

People without group insurance and future retirees represent a target market with strong potential.

THE PRODUCT

Our Company has developed hospitalization insurance offered in the form of a rider which can be added to a Genesis universal life insurance contract, Axis traditional life insurance or Pick-a-Term credit insurance. This protection provides:

  • A daily indemnity of up to $200;

  • An additional benefit of 4 times the daily indemnity prescribed in the contract in case of hospitalization in intensive care;

  • An additional benefit of 1 time the daily indemnity prescribed in the contract in case of hospitalization outside the province of residence;

  • An additional lump-sum benefit of $200 for ambulance transport.

Benefits are payable starting from the first full day (24 hours) of hospitalization.

Ask about available Hospitalization Rider.

2/5/2008

Ontario Bill 157




 
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