Scantlebury Wealth Management

  In a sobering convergence of health and economics, new research is presenting Canadians with a problematic paradox: while the Canadian health system is getting better at treating cancer,  the sheer volume of cases and the skyrocketing cost of treatment are threatening to overwhelm that very same system. Reports from The Lancet and recent provincial data indicate that we are getting better at caring for cancer patients; because, when the data is standardized for age, cancer death rates in Canada actually declined by 29% between 1990 and 2023. However, while the Canadian Healthcare system has improved the life expectancy for cancer patients, Canada is seeing a trend of more cancer diagnosis due to the success of our early detection regime and our aging population. Consequently, Canada is expected to follow trends found globally and we are expecting to see more cases.  Worldwide, by 2050, with 2023 as a baseline, there is an expectation of a 65% increase in the rate of dia...

If you spend any amount of time listening to Canadians, it becomes clear that our health care system  does a good job at treating critical illnesses like cancer, heart attacks and strokes. However, it has  some severe limitations. One of those limitations is imposing a large amount of costs on individual patients. Last year, CBC talked about a Calgary man who was facing cancer treatment delays because the specialized therapy he needs is offered in Edmonton, but is not yet offered in Calgary. With that being said, there are also recent reports that many women in Saskatchewan are having trouble getting urgent breast cancer biopsies; and there are two reasons for that. Firstly, the care is not offered in their home province of Saskatchewan. They have to travel to Alberta, specifically Calgary, to get the care that the government of Saskatchewan will pay for. However, this is where the second problem comes to the fore: even with partial reimbursement from the Government of Saskatc...

In life's rapid pace, the notion of the unexpected is a frequent anxiety for many Canadians. The concern isn't just about a potential health crisis; it's about the very real possibility of financial devastation that often follows. This is why Critical Illness Insurance is no longer a luxury—it is an essential layer of protection for your financial future. While Canada's public healthcare system provides exceptional support, it does not cover all the hidden, life-altering expenses that accompany a serious diagnosis. Your daily income, mortgage payments, specialized recovery costs, and home modifications all remain your responsibility. A Critical Illness Insurance Policy solves this challenge by delivering a single, tax-free lump sum cash payment directly to you upon diagnosis of a covered illness. As a result, unlike disability insurance, which replaces lost income, or traditional health insurance, which covers medical bills, this policy delivers a single, tax-free lump ...

When you buy a home, you’re usually thinking about paint colours and floor plans. If the home is older, you might be thinking about changing the tiles and regrouting the bathroom. But, you’re probably not thinking about how to pay for the mortgage or maintain the home if you have a diagnosis of a life-altering illness. However, a house is more than a home; it’s a financial commitment that relies entirely on your ability to earn and maintain an income. This is why I recommend that most Canadians should consider a critical illness insurance policy. While Canada’s publicly funded healthcare is a point of pride, it doesn’t pay your mortgage or your out-of-pocket medical bills; and the effects of those costs, called "financial toxicity", can hit families when they least expect it.  A national study, sponsored by the Canadian Cancer Society, found that 33% of people with cancer reported the financial strain from out-of-pocket costs to be high. This should not be surprising because...