Accident & Sickness Insurance

This type of insurance covers the medical and dental expenses that are not covered by the provincial health plans.

Examples of this coverage would include dental, prescriptions, chiropractic, massage therapy, eyeglasses, hearing aids to name but a few.

Employees often gain this coverage through a company group plan. Self-employed people can purchase this type of health plan for themselves and/or their employees.

Another product available under Accident & Sickness Insurance is critical illness insurance. This is for when you have been diagnosed with a critical illness such as a heart attack, certain types of cancer, MS, Parkinson's Disease, etc. This insurance pays you if you live a certain time after diagnosis.

It is best to consult with an agent or broker as to what is available to you. If you do participate in such a plan then your share of contributions is considered part of the medical expenses on your income tax return. Talk to your accountant in this regard.