|
Serious
Illness Cover
Serious Illness cover can payout a tax free
lump sum on diagnosis of a serious illness or on undergoing
major surgery (subject to policy conditions).
The most important use for Serious Illness
cover is to protect your mortgage loan, which can be cleared
off on diagnosis of serious illness.
Can cover medical bills.
Generally children under 18 years old are
also automatically covered for the serious illnesses listed,
but at a reduced cover amount.
For a quotation you can contact us
with your details and requirements.
The advantages of serious illness cover over
that of Permanent Health Insurance (PHI) are as follows: -
Serious Illness cover pays a lump sum instead
of an income.
Serious Illness benefit lump sum is payable
immediately on diagnosis of serious illnesss
(generally after 14 days) unlike PHI benefit
which has to wait a deferred period of a minimum of 13 weeks.
No tax is payable on the lump sum, whilst
PHI income is liable to income tax.
No requirement for income test for payout.
No requirement to be unable to work (however
permanent & total disability cover require an inability
to work). Benefit payment subject to once-off medical test
only.
Easier to obtain on underwriting than for
PHI cover.
| |
|
The
aim of this cover is to provide a cash lump sum in
the event of diagnosis of one of the following illnesses.
|
- Heart
Attack
- Stroke
- Cancer
- Heart
Surgery
- Coronary
Artery By-pass
- Angioplasty
(not all policies)
- Aorta
Graft
- Heart
Valve
- Balloon
Valvuloplasty
- Major
Organ Transplant
- Pulmonary
Artery Surgery
- Kidney
Failure
- Paralysis
- Loss
of Limbs
- Multiple
Sclerosis
- Coma
- Severe
Burns
- Benign
Brain Tumour
- Motor
Neurone Disease
- Blindness
- Loss
of Speech
- Loss
of Hearing
|
- Bacterial
Meningitis
- Major
Head Trauma
- Chronic
Liver Disease
- Systemic
Lupus Erythematosus
- Creutzfeld-Jac
- Loss
of independent existence (before 65)
- Permanent
and Total Disability (before 65)
- Aplastic
Anaemia
- Encephalitis
- Cardiomyopathy
|
|
**
Cover for these conditions will cease at age 65 unless
you are covered for long term care at time of claim.
|
With most Assurance Companies you are automatically
covered for new illnesses as they are added to the newer policies
by the Assurance Company.
For a quotation you can contact
us with your details and requirements.
|
