Planning for Dementia is Important

On November 8th, readers of the Montreal Gazette may have come across an insightful article by Susan Schwartz that focuses on the significant challenges faced by the Irwin family in caring for their loved one, which raises important questions about the support systems available for those dealing with critical illnesses, such as dementia.

The statistics presented in the article are striking. In Canada, a staggering 61 percent of individuals with dementia live at home, yet only 43 percent obtain a home care assessment within six months of their diagnosis. Of those assessed, just 58 percent go on to receive the necessary community and home care services. Alarmingly, 43 percent eventually transition into long-term care facilities, often due to a lack of adequate support in the home environment.

Imagine what could be provided to so many Canadians if we planned for our older years in the same way that we planned for our retirement. Imagine what you could do if you had a lump sum that could provide as much as $2,000,000 when families need it. This is the value of critical illness insurance.

The Irwins’ family story underscores the importance of being prepared for unforeseen health challenges. By considering critical illness insurance, individuals can secure the necessary financial resources to help fund care for themselves or their loved ones when illness strikes. Such foresight can alleviate immense stress and enable families to provide the care their members truly deserve, instead of facing the harsh reality of insufficient support.

Planning ahead can make a significant difference in ensuring the best possible quality of life during difficult times. For those interested in learning more about critical illness insurance and how it could protect their family’s future, please drop me a line (russell.scantlebury@rswm.ca) for further information or to discuss personalized options.

Comments

The Legacy of Purpose: How Life Insurance Redefines Planned Giving

It is not uncommon to learn by doing. When working with clients on their estate planning needs, I have often asked a simple question: “if you were to die today, would you want to donate some of your estate to any particular charity?”. Oftentimes, that question does not trigger a response. That is not surprising. However, one time, it did. The client’s answer was simple: “I had not given it much thought”. Yet, the conversation did not stop there. My question - if you were to die today, would you want to donate some of your estate to any particular charity - led to a different response: an exchange. After some talking, we made a plan, and that plan led to action. Eventually, we figured out the desired outcome, and she changed her will. Within six months, she had passed; and, a charity received a big cheque. We often don’t think about what would happen once we pass. However, for just a second, imagine that you could give a gift of several thousand dollars to a charity - like an endow...

Don't Play Health Care Roulette: Safeguarding Your Future with Critical Illness Insurance

Medical science is evolving at a historic pace. Breakthrough treatments that were once deemed impossible are now becoming a reality, offering families renewed hope in the face of devastating diagnoses. However, these medical advancements highlight a critical truth about modern healthcare: innovation comes with a significant price tag, and public health systems cannot always cover every cost immediately. Just look at the Lecanemab (brand name Leqembi) - a groundbreaking disease-modifying therapy for early-stage Alzheimer’s disease - and its recent journey through Canada's approval process. This drug's journey is important because it provides one simple example of why personal financial protection, specifically Critical Illness Insurance, is no longer optional in Canada. In February 2026, Canada's Drug Agency - a pan-Canadian health organization, created and funded by Canada’s federal, provincial, and territorial governments - issued an initial preliminary draft recommending ...

Why Critical Illness Insurance Matters….

The field is quietest just before dusk, when the long shadows of the goals stretch across the grass. For Sarah, that patch of green had always been a sanctuary. It was where she had out-sprinted her anxiety during final exams, and where, during a fierce co-ed match in her university days, an accidental collision led to an apology, a post-game coffee, and eventually, a wedding band. Now, that same love of the game lived on in the frantic, joyful energy of her two sons. Watching them chase the ball from the sidelines, she could still hear the precise, familiar thwack of a perfect strike. Sarah’s life had been defined by that kind of momentum. She possessed a quiet, unstoppable drive, earning her Bachelor of Science and started her Masters, before pivoting and securing her doctorate. As a researcher at a major medical facility, her days were spent unweaving complex human puzzles, dedicated to finding answers that would save lives. She was successful, fulfilled, and deeply grounded by the ...

Scantlebury Wealth Management

Search This Blog