A Guide to Critical Illness Insurance

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "A Guide to Critical Illness Insurance"

Transcription

1 A Guide to Critical Illness Insurance This guide about Critical Illness cover is designed to help you decide if this is a suitable product for you. It aims to help by answering the following questions: What is Critical Illness cover? How does Critical Illness cover work? How can I decide whether I need Critical Illness cover? If I decide to effect Critical Illness cover, what decisions do I need to make? Taking financial advice What other kinds of health protection products are there? What Is Critical Illness cover? Critical illness policies usually pay a tax-free lump sum if you suffer from one of the illnesses or conditions, or have one of the surgical procedures (collectively known as the critical illnesses ), covered by the policy. Common conditions covered are Cancer, Heart Attack, Stoke, Major Organ Transplant, Multiple Sclerosis, Blindness, Deafness, Paralysis and Parkinson s Disease etc. You should not confuse Critical Illness cover with other types of health insurance such as: Private Medical insurance which pays for the cost of private medical treatment or; Income Protection insurance which pays you a monthly income after you have been unfit to work (because of sickness or accident) for an agreed period. This income continues until you are fit to return to work or the policy ends. How Does Critical Illness cover Work? Critical illness insurance is designed to ease the financial pressures by paying a tax-free lump sum if you become seriously ill or totally disabled. You must normally survive at least 14 days (and often one month) after becoming critically ill, before the policy will pay out. Also known as dread disease cover, Critical Illness insurance pays benefits on the diagnosis of certain specified critical illnesses. The range of diseases covered has increased to more than 30, though contracts differ from one company to another. All policies should cover the seven core conditions, these are; Cancer, Coronary artery bypass, Heart attack, Kidney failure, Major organ transplant, Multiple sclerosis Stroke. They will also pay out if a policyholder becomes permanently disabled as a result of injury or illness. Additional conditions covered by some polices include: Aorta graft surgery Benign brain tumour Blindness Coma Deafness Heart valve replacement or repair Loss of Limbs Loss of speech Motor neurone disease Paralysis / Paraplegia Parkinson s disease Terminal illness Third degree burns Critical Illness Guide from Provident Solutions - June 2008.doc Page 1 of 5

2 Insurance companies may not cover all these critical illnesses but if they do, the company will use the Association of British Insurers (ABI) model definitions or alternatives that give more cover. Insurance companies may also cover other critical illnesses, for example total permanent disability, as well as those with model definitions. Will any exclusions apply to the cover? Critical illness policies usually contain certain exclusions (things which are not covered). Exclusions vary between insurance companies. The Key Features Document provided by the relevant insurance company will list the exclusions of that particular policy. The ABI have published model definitions for the most common exclusions. The headings of those exclusions are as follows. Aviation Drug abuse Hazardous sports and pastimes Living abroad War and civil commotion Criminal acts Failure to follow medical advice HIV/AIDS Self-inflicted injury Policies which include these exclusions use the ABI model definitions or an alternative that provides more cover. How Can I Decide Whether I Need Critical Illness cover? We all probably understand the risk of 'dying too soon' and the danger of leaving dependents in a precarious financial situation. However the chances of suffering a serious or critical illness such as developing cancer or having a stroke (and then surviving) are twice as likely as dying. So there is a very real need to ensure that both you and your dependents would be financially protected if you were to suffer from a serious or critical illness. Suffering a critical illness can lead to loss of earnings and financial disaster, dramatically reducing your standard of living and quality of life and could ultimately lead to the loss of your home. Did you know? 1 in 3 people develop cancer at sometime in their life. 1 in 4 males and 1 in 5 females will suffer a serious illness before retirement. Around 120,000 people have Parkinson's Disease and 1 in 7 are under 40 when diagnosed. Coronary Heart Disease is responsible for 12% of all working days lost through sickness. Each year, 120,000 people suffer strokes in the UK. Source: Financial Services Education for Consumers Limited 1999/03 If you re critically ill, the last thing you ll need is any financial worry like the fear of losing your home because you can t pay your mortgage. Critical illness cover aims to give you peace of mind in these circumstances. You therefore need to consider carefully what financial liabilities may need to be repaid in the event of you suffering a serious illness and being too ill to work. At Provident Solutions we have a sophisticated computer analysis tool that accurately calculates this figure for you, however below is a simplistic guide to give you an idea of the level of cover you may require. First calculate what your income would be in the event you were unable to work Potential income sources will depend on your personal circumstances and a number of factors: If you are employed: Your employer may continue to pay you for a limited time. Some employers will only pay Statutory Sick Pay. Others may be more generous. You should check what arrangements your employer has made. If you are self-employed or a member of a partnership: Your income will almost certainly cease, although your business may continue to generate income for a short time if, for instance, payment is outstanding for work already completed. State benefits: In the longer term you may receive Incapacity Benefit and other State benefits. Most of these benefits are means-tested and frequently re-evaluated depending on the severity of your disability. Critical Illness Guide from Provident Solutions - June 2008.doc Page 2 of 5

3 Also in most cases there are conditions that have to be met, such as your having paid sufficient National Insurance contributions. More details can be obtained from the government website ( You should note that the amounts of, and eligibility conditions for, State benefits may change in the future. Savings and investments: If you have savings, these may produce income that will not be affected by your incapacity. Cashing in some investments earlier than planned may, however, result in a financial loss. Such savings may also affect your eligibility for some State benefits. Pension payments: If you are receiving a pension from a previous job this is likely to continue despite your incapacity. Early retirement: You may be able to start receiving an early retirement pension. This will depend on the rules of the pension scheme(s) to which you belong, and may also be at your employer s discretion. Remember, any pension which starts early is likely to be significantly lower than if you had worked until normal retirement age. Alternative employment: Even if you were unable to undertake your usual work, there might be alternative work that you could do. This will very much depend of the circumstances of your disability and personal preferences. Second calculate your expenses If you are too ill to work for a long period of time, the way you spend your money may well alter. You need to consider how your expenses might change. Ongoing costs: Some types of expenses will continue. These include mortgage, rent and other housing costs, council tax, gas and electricity bills, etc. Some expenses may be covered by specific insurances (although it is common for such cover to be limited, say, to a year from when you become too ill to work). You should check whether your mortgage, hire purchase, credit card or loan repayments or pension contributions are covered by this kind of insurance. Work-related costs: Some expenses may reduce, or even be eliminated. These could, for instance, include the cost of travelling to and from your place of work. New costs: Some expenses will increase, or will be incurred for the first time. These may include, for instance, the cost of heating your home all day if you do not go out to work, the higher cost of food if you have been using a subsidised staff canteen, and the cost of medicines and possibly nursing care. A key cost may be the modernisation of your home to make it more accessible if you are suffering from a disability. Other costs: Some expenses are within your control, so you could economise if you wished to. These might include, for instance, holidays and entertainment, but would you really want to take this course of action? When might I need Critical Illness cover? Having considered the effect on your income and your expenses, do you think that you could cope with your changed circumstances if you were too ill to work? Would you be able to meet the payments of your financial liabilities such as your mortgage, loans, hire purchase and credit cards? Would you have the funds available to provide for special care requirements or house modifications etc. If not you should seriously consider taking out Critical Illness cover. When might I not need Critical Illness cover? If you have sufficient income from other sources: If your calculations do not reveal a likely shortfall, or if you believe you could realistically adapt your lifestyle to a reduced income, then you may consider that critical illness insurance is unnecessary. If you consider that you have adequate capital, savings or other resources to live on for however long you are too ill to work, then again critical illness insurance may be unnecessary. Critical Illness Guide from Provident Solutions - June 2008.doc Page 3 of 5

4 If your employer has comprehensive arrangements in place: Critical Illness insurance may be unnecessary if your employer has a satisfactory long-term sick-pay scheme (considering both the amount of any cover, and the length of time for which you would continue to receive an income). You could live on State benefits (assuming you are eligible): If you compare your income with State benefits, and feel that these will meet your needs, then you may not need critical illness cover however this is extremely unlikely given that incapacity benefit for the 2008/09 tax year is set at per week. You should note that the Government use their own definition of incapacity when deciding whether you can receive State benefits. This definition may not be the same one your insurer would use. If I Decide I need Critical Illness cover, What Decisions Do I Need To Make? Most insurance companies will offer a range of different policies. The overall cost of a policy is likely to be an important consideration. You should remember that, in general terms, the broader the scope of the cover, the greater the cost. For example, policies which cover additional conditions are likely to be more expensive than those that just cover the core conditions. The exact cost will depend on a number of factors, including your age, sex, occupation and your medical history as well as your family s medical history. A wide choice of policies are available, so it is important that you choose the policy and cover that is right for you. You can choose polices that: Provide Critical illness cover as an extra benefit on a life assurance policy: This usually means that the policy pays out if you die or suffer a critical illness. These plans generally only payout once and then end so they don t continue to provide life cover after paying a critical illness claim. Protect your mortgage: Repayment Mortgage - On these types of polices the level of cover will decrease each year as the level of the outstanding balance on your mortgage decreases over the term. Interest Only / Endowment Mortgage - On these types of polices the level of cover will remain the same throughout the term of the policy. Choose whether you fix the premium you pay from the outset of the policy: Guaranteed rates the amount you pay is fixed in advance. The amount you pay cannot be changed by your insurer, except in agreed circumstances (e.g. to rise in line with inflation). Reviewable rates your insurer can change the amount it charges you in the light of its costs, overall claims experience etc. This rate does not depend on any claims that you have made. At Provident Solutions, although Reviewable rate policies are less expensive initially, we only usually recommend Guaranteed rates as Reviewable rates may increase as you get older making the cover unaffordable when you most need it! You should also think about how long you want the cover for. You can choose cover for a set number of years, perhaps until your mortgage is paid off. Or you can choose a plan that has no fixed period, so you can keep the cover for as long as you need it. Choose whether to increase the level of your benefit over time: Some insurers will offer you the option of benefits which increase as inflation rises. This is because if the benefit which your policy provides remains at a constant level throughout its term, its real value is likely to diminish. The level of these increases will vary from insurer to insurer. Premiums will increase over the years as the level of cover provided rises (usually in line with the Retail Price Index RPI). Provide some Critical Illness cover for your children Many plans automatically provide some critical illness cover for your children. If you have a family, you may want to consider a plan with this benefit. Should I take Advice? Most Critical Illness providers publish a wide range of information on their products, but all are required to issue a Key Features Document to help you make comparisons between policies as not all insurance companies cover the same illnesses or have the same exclusions, however these documents are often cumbersome and can be complicated to understand. You will find talking to an expert financial adviser from Provident Solutions will be extremely helpful. Critical Illness Guide from Provident Solutions - June 2008.doc Page 4 of 5

5 What s more if you effect a policy without taking advice you will have no redress to the Financial Ombudsman Service, over any later complaints, about the suitability of the product. What Other Kinds Of Health Protection Products Are There? Insurance can give you the resources to cope when you encounter unexpected misfortune. Most people see good health as being very important, as it makes other aspects of life possible. The insurance industry can offer help in a number of ways to protect you and your family against the financial consequences of illness or injury. Insurers may combine different kinds of policy, however, the broader the cover the greater the cost. The main categories of product on offer can be split into long-term products, providing benefits for more than one year, and general insurance products, which are renewed annually. The different types are: Long-term insurance products: Income Protection Insurance Income Protection insurance which pays you a monthly income after you have been unfit to work (because of sickness or accident) for an agreed period. This income continues until you are fit to return to work or the policy ends. Private Medical Insurance Private medical insurance is designed to cover the costs of private medical treatment for what are commonly known as acute conditions. Long Term Care Insurance The insurance is designed to finance long-term nursing and other dependent care. A claim is payable if your health prevents you from caring for yourself. General insurance products: Accident, Sickness and Unemployment cover Accident, sickness and unemployment insurance typically provides benefit for a limited period. A common form of this type of insurance is Mortgage Payment Protection Insurance which usually covers your mortgage payments for a maximum of 12 or 24 months in the case of accident, sickness or redundancy. There is usually a waiting period before payments are made of either 30 or 60 days. How do I find out more? Call us now on and we can arrange an appointment to conduct a thorough analysis of your Critical illness cover requirements. Provident Solutions Ltd Kingston House Meadow Hill Great Glen Leicester, LE8 9FX. Tel: Fax: Critical Illness Guide from Provident Solutions - June 2008.doc Page 5 of 5

A Guide to Income Protection (Permanent Health Insurance)

A Guide to Income Protection (Permanent Health Insurance) A Guide to Income Protection (Permanent Health Insurance) This guide about Income Protection (Permanent Health Insurance) Insurance is designed to help you decide if this is a suitable product for you.

More information

about our eselect Protection Life or Earlier Critical Illness Cover

about our eselect Protection Life or Earlier Critical Illness Cover about our eselect Protection Life or Earlier Critical Illness Cover We set out the main points about our eselect Protection Life or Earlier Critical Illness Cover below. Your personal illustration shows

More information

Key Features of the Forester Life Mortgage Protection Options Plan. Key Features

Key Features of the Forester Life Mortgage Protection Options Plan. Key Features Key Features of the Forester Life Mortgage Protection Options Plan The Financial Conduct Authority is a financial services regulator. It requires us, Forester Life, to give you this important information

More information

Lifetime Protection Plan from Standard Life Protecting you and your family

Lifetime Protection Plan from Standard Life Protecting you and your family Lifetime Protection Plan from Standard Life Protecting you and your family Remember when you thought you were invincible 1 of 33 2 of 33 When was the last time you felt invincible? Contents The need for

More information

Level, Renewable and Family Income Protection Key Features

Level, Renewable and Family Income Protection Key Features Level, Renewable and Family Income Protection Key Features Lifetime Protection from Standard Life This is an important document. Please read it and keep for future reference. The Financial Conduct Authority

More information

Key facts of AA Life Insurance with Critical Illness Cover

Key facts of AA Life Insurance with Critical Illness Cover Key facts of AA Life Insurance with Critical Illness Cover The Financial Services Authority is the independent financial services regulator. It requires us, Friends Life Limited, to give you important

More information

Critical Illness Claims Report 2006

Critical Illness Claims Report 2006 This communication is intended for qualified financial advisers only and must not be relied upon by anyone else. This is the Critical Illness Claims Report 2006 from Assurance Limited Hello. This report

More information

Mortgage Protection and Level Protection Key Features

Mortgage Protection and Level Protection Key Features Mortgage Protection and Level Protection Key Features Lifetime Protection Plan from Standard Life This is an important document. Please read it and keep for future reference. The Financial Conduct Authority

More information

Optional Group Critical Illness. Financial support at a critical time

Optional Group Critical Illness. Financial support at a critical time Optional Group Critical Illness Financial support at a critical time Medical advances have greatly increased the ability of Canadians to survive a critical illness. However, few of us are prepared for

More information

This document contains important information about the Lifestyle Plus Protection plan and you should read it along with your quote.

This document contains important information about the Lifestyle Plus Protection plan and you should read it along with your quote. Key facts of the Lifestyle Plus Protection plan (October 2013) This document contains important information about the Lifestyle Plus Protection plan and you should read it along with your quote. This document

More information

Key Features of the NFU Mutual Level Temporary Assurance Policy with Critical Illness Cover PROTECTION

Key Features of the NFU Mutual Level Temporary Assurance Policy with Critical Illness Cover PROTECTION Key Features of the NFU Mutual Level Temporary Assurance Policy with Critical Illness Cover PROTECTION CONTENTS 03 Who should buy this product? Its Aims Your Commitment Risks What is the Level Temporary

More information

Welcome Insurer Life Insurance Critical Illness beaglestreet.com

Welcome Insurer Life Insurance Critical Illness beaglestreet.com Your Policy Summary Welcome We ve sent you this Policy Summary as a comprehensive guide to our products and because the Insurer is required to do so by the Financial Conduct Authority. This important information

More information

AA Critical Illness with Life Cover Policy Summary

AA Critical Illness with Life Cover Policy Summary AA Critical Illness with Life Cover Policy Summary The Financial Services Authority is the independent financial services regulator. It requires us, Friends Life and Pensions Limited, to give you important

More information

Key Features of the NFU Mutual Mortgage Temporary Assurance Policy with Critical Illness Cover PROTECTION

Key Features of the NFU Mutual Mortgage Temporary Assurance Policy with Critical Illness Cover PROTECTION Key Features of the NFU Mutual Mortgage Temporary Assurance Policy with Critical Illness Cover PROTECTION CONTENTS 03 Who should buy this product? Its Aims Your Commitment Risks 04 What is the Mortgage

More information

Facing the challenges of CRITICAL ILLNESS

Facing the challenges of CRITICAL ILLNESS Facing the challenges of CRITICAL ILLNESS INTRODUCTION What is insurance? In life, we are all faced with threats which, if they occurred, would result in financial loss Insurance is the process of protecting

More information

KEY GUIDE. Financial protection for you and your family

KEY GUIDE. Financial protection for you and your family KEY GUIDE Financial protection for you and your family Protecting what matters most Life and health insurance protection underpins most good financial planning. These types of insurance can ensure that

More information

Doctors of BC Critical Illness Insurance

Doctors of BC Critical Illness Insurance Doctors of BC Critical Illness Insurance CI Critical Illness Insurance Have greater control over the impact a serious illness may have on your life. As a doctor, you ve likely witnessed patients trying

More information

KEY FEATURES OF THE NFU MUTUAL MORTGAGE TEMPORARY ASSURANCE POLICY WITH CRITICAL ILLNESS COVER PROTECTION

KEY FEATURES OF THE NFU MUTUAL MORTGAGE TEMPORARY ASSURANCE POLICY WITH CRITICAL ILLNESS COVER PROTECTION KEY FEATURES OF THE NFU MUTUAL MORTGAGE TEMPORARY ASSURANCE POLICY WITH CRITICAL ILLNESS COVER PROTECTION The Financial Conduct Authority is a financial services regulator. It requires us, NFU Mutual,

More information

Vista. Additional benefits

Vista. Additional benefits Vista Additional benefits By choosing to invest with Vista, you are planning to help ensure that you and your family will be able to afford a comfortable retirement, a holiday of a lifetime, a good education

More information

Home Loans. Freehold Mortgage Protection

Home Loans. Freehold Mortgage Protection Home Loans Freehold Mortgage Protection ensuring your home stays in your hands Secure the roof over your head Buying a home is a major step in life. The last thing you want to see is your home slip out

More information

What do these mean?...

What do these mean?... Protect your Home We recommend that once you have decided on your new mortgage you should protect your home as you never know what challenges life will throw at you. We are here to help you meet these

More information

Term Assurance INVESTMENTS PENSIONS PROTECTION

Term Assurance INVESTMENTS PENSIONS PROTECTION Term Assurance About Canada Life Established in 1903, the Canada Life Group has grown to be a modern and dynamic international financial services business. We are part of Great-West Life, one of the world

More information

Freehold Mortgage Protection

Freehold Mortgage Protection Home Loans Freehold Mortgage Protection en s urin g your 2694 0209 HL Freehold Mortgage brochure.indd 1 n home stays i ds n ha r you 19/2/09 3:36:11 PM Secure the roof over your head Buying a home is a

More information

Mortgage Protection Plan

Mortgage Protection Plan IMPORTANT INFORMATION This information may be downloaded to your PC in whole or in part provided that any reproduction or copy, or any derivative, is true to the original, and is EITHER used for personal

More information

Elixia 123 Personal Critical Illness Cover

Elixia 123 Personal Critical Illness Cover Elixia 123 Personal Critical Illness Cover Key Features Your questions answered unum.co.uk Elixia 123 Personal Critical Illness Cover Key Features - your questions answered This key features document

More information

GROUP PROTECTION. Group Critical Illness Cover. Technical guide for employers. Employee Benefits made easier by Legal & General

GROUP PROTECTION. Group Critical Illness Cover. Technical guide for employers. Employee Benefits made easier by Legal & General GROUP PROTECTION Group Critical Illness Cover Technical guide for employers Employee Benefits made easier by Legal & General Welcome to Legal & General We have been working with intermediaries, pension

More information

Protecting you and your world. Mortgage Protection. With Serious Illness Cover

Protecting you and your world. Mortgage Protection. With Serious Illness Cover Protecting you and your world Mortgage Protection With Serious Illness Cover Serious Illness Cover for your Mortgage from Caledonian Life Caledonian Life s Mortgage Protection policy offers you a cost-effective

More information

Key Features of Mortgage Life Insurance

Key Features of Mortgage Life Insurance Key Features of Mortgage Life Insurance Improvements to our critical illness cover We are pleased to tell you that we ve added to our critical illness cover. The plan now includes improved critical illness

More information

Critical Illness Insurance. What is Critical Illness Insurance

Critical Illness Insurance. What is Critical Illness Insurance Critical Illness Insurance What is Critical Illness Insurance Whereas life insurance has been readily available for literally hundreds of years, critical illness insurance is a relatively recent development.

More information

Policy Summary of Friends Life Individual Protection Critical Illness with Life Cover

Policy Summary of Friends Life Individual Protection Critical Illness with Life Cover Policy Summary of Friends Life Individual Protection Critical Illness with Life Cover FLIP/4569/Mar15 This policy summary gives you important information about the Friends Life Individual Protection Critical

More information

Policy Summary of Friends Life Individual Protection Critical Illness with Life Cover

Policy Summary of Friends Life Individual Protection Critical Illness with Life Cover Policy Summary of Friends Life Individual Protection Critical Illness with Life Cover FLIP/4569/Mar15 This policy summary gives you important information about the Friends Life Individual Protection Critical

More information

KEY FEATURES OF CRITICAL ILLNESS WITH LIFE COVER PROTECTION FOR LIFE. Important information you need to read

KEY FEATURES OF CRITICAL ILLNESS WITH LIFE COVER PROTECTION FOR LIFE. Important information you need to read KEY FEATURES OF CRITICAL ILLNESS WITH LIFE COVER PROTECTION FOR LIFE Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR. IT REQUIRES US, SCOTTISH WIDOWS,

More information

Critical illness conditions covered

Critical illness conditions covered For financial adviser use Critical illness conditions covered Provider Alzheimer s Disease age 65 age 60 Aorta graft surgery for disease Benign brain tumour Blindness permanent and irreversible Cancer

More information

THE KEY FEATURES OF THE AXA PROTECTION ACCOUNT

THE KEY FEATURES OF THE AXA PROTECTION ACCOUNT THE KEY FEATURES OF THE AXA PROTECTION ACCOUNT The Financial Services Authority is the independent financial services regulator. It requires us, AXA Sun Life plc, give you this important information to

More information

Serious-illness insurance

Serious-illness insurance Serious-illness insurance for independent information About us We are an independent watchdog set up by the Government to: regulate firms that provide financial services; and help you make informed decisions

More information

Critical Illness Insurance. Second Chance for Children 30 days to 17 years

Critical Illness Insurance. Second Chance for Children 30 days to 17 years Critical Illness Insurance Second Chance for Children 30 days to 17 years Second Chance for Children Protect your children in case of critical illness so you can afford to stay by their bedside If one

More information

Disability and Critical Illness Insurance

Disability and Critical Illness Insurance Disability and Critical Illness Insurance What Do You Really Need? By Margot Bai www.spendsmarter.ca margot@spendsmarter.ca March 3, 2007 Disability and Critical Illness Insurance by Margot Bai Page 1

More information

Critical Illness Insurance

Critical Illness Insurance Advances in lifestyle and medical technology have greatly increased your chances of surviving a critical illness. But can you survive financially? Keep in mind that your regular bills, loans, tuition,

More information

Asteron Life Personal Insurance

Asteron Life Personal Insurance Asteron Life Personal Insurance What lump sum covers are available with Asteron Life Personal Insurance? Life Cover Life Cover insurance pays a lump sum of money if you pass away or become terminally ill.

More information

Symbility Health Adjudicare Group Insurance Plan Outline

Symbility Health Adjudicare Group Insurance Plan Outline Symbility Health Adjudicare Group Insurance Plan Outline 2013 Symbility Solutions Inc. Who is Eligible? All Eligible Employees under the age of 65, working a minimum average of 15 hours per week are Eligible

More information

Key features of the Decreasing Mortgage Cover Plan Helping you decide

Key features of the Decreasing Mortgage Cover Plan Helping you decide Key features of the Decreasing Mortgage Cover Plan Helping you decide This important document gives you a summary of the Decreasing Mortgage Cover Plan. Please read this with your illustration, if you

More information

Taking care of tomorrow

Taking care of tomorrow Friends Life Protection Account Critical Illness Cover Guide Taking care of tomorrow Critical Illness Cover Taking care of tomorrow Friends Life Critical Illness Cover is here for you through whichever

More information

HOME PROTECTION PLAN MORTGAGE INSURANCE. Mortgage Insurance. that is Custom Built to Meet Your Needs

HOME PROTECTION PLAN MORTGAGE INSURANCE. Mortgage Insurance. that is Custom Built to Meet Your Needs HOME PROTECTION PLAN MORTGAGE INSURANCE Mortgage Insurance that is Custom Built to Meet Your Needs Mortgage Insurance that is Custom Built to Meet Your Needs Your mortgage insurance should offer you sufficient

More information

Combined Life & Critical Illness Protection Guaranteed Premiums. Policy Summary

Combined Life & Critical Illness Protection Guaranteed Premiums. Policy Summary Combined Life & Critical Illness Protection Guaranteed Premiums Policy Summary Combined Life & Critical Illness Protection Guaranteed Premiums Policy Summary In this summary, we try to help you by giving

More information

OUR PERSONAL MENU PLAN

OUR PERSONAL MENU PLAN KEY FACTS OF OUR PERSONAL MENU PLAN Important information you should read Protection Personal Menu WHAT S INSIDE See if our plan is right for you 3 The aims of our plan 3 Your commitment 4 The risks 4

More information

Westpac Insurance. Life & Loan Insurance

Westpac Insurance. Life & Loan Insurance Westpac Insurance Life & Loan Insurance July 2013 Life it s rather unpredictable, isn t it? That s why our range of insurance cover is so flexible. We understand that everyone has different insurance needs

More information

This document contains important information about the Lifestyle Protection plan and you should read this along with your quote.

This document contains important information about the Lifestyle Protection plan and you should read this along with your quote. Key facts of the Lifestyle Protection plan July 2014 This document contains important information about the Lifestyle Protection plan and you should read this along with your quote. This document doesn

More information

A Guide to Serious Illness Cover Creating your success through Financial Planning

A Guide to Serious Illness Cover Creating your success through Financial Planning & Guidance A Guide to Serious Illness Cover Contents How would the sudden onset of a serious illness impact my 02 financial wellbeing? What is serious illness cover? 03 What are the key causes of serious

More information

CRACKING GOOD COVER. Protection Personal Menu. royallondon.com

CRACKING GOOD COVER. Protection Personal Menu. royallondon.com CRACKING GOOD COVER Protection Personal Menu royallondon.com WHAT S INSIDE A summary of our protection covers 4 Cover for you, your partner or both of you 5 Life Cover 6 Critical Illness Cover 7 The full

More information

Why CI? Critical Illness Protection from Transamerica for a Broader Spectrum of Coverage

Why CI? Critical Illness Protection from Transamerica for a Broader Spectrum of Coverage Why CI? Critical Illness Protection from Transamerica for a Broader Spectrum of Coverage What is Critical Illness Protection? Critical Illness Protection is a form of insurance that provides you with a

More information

Maintain your lifestyle even when the unexpected happens

Maintain your lifestyle even when the unexpected happens AIA SECURE CRITICAL COVER PROTECTION Maintain your lifestyle even when the unexpected happens Lessen your financial burden with affordable Critical Illness coverage. aia.com.sg Cancer is the No.1 killer

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

More information

Key features of the Level Protection Plan

Key features of the Level Protection Plan Key features of the Level Protection Plan Helping you decide This important document gives you a summary of the Level Protection Plan. Please read this with your illustration, if you have one, before you

More information

Sun Critical Illness Insurance

Sun Critical Illness Insurance Sun Critical Illness Insurance PRODUCT FEATURE SHEET CRITICAL ILLNESS INSURANCE gives you a lump sum payment if you are diagnosed with and survive an illness covered by your plan. Having this extra measure

More information

vital link Critical Illness Insurance It s about living your life Your guide to Critical Illness Insurance

vital link Critical Illness Insurance It s about living your life Your guide to Critical Illness Insurance vital link Critical Illness Insurance It s about living your life Your guide to Critical Illness Insurance You really feel like you re on the right track. Your life seems to be going just as you planned.

More information

trilogy Universal Life Insurance For your way of life Tailor your insurance protection

trilogy Universal Life Insurance For your way of life Tailor your insurance protection trilogy Universal Life Insurance For your way of life Tailor your insurance protection For your way of life As you travel through life, you can be sure of one thing: the world you live in is constantly

More information

Loan Protection. Product Disclosure Statement (PDS) Issued: 1 September 2013. Protecting your financial future with us

Loan Protection. Product Disclosure Statement (PDS) Issued: 1 September 2013. Protecting your financial future with us Loan Protection Product Disclosure Statement (PDS) Issued: 1 September 2013 Protecting your financial future with us Issued by: MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096, Level 9, 2 Park

More information

Key Features of Term Assurance with Critical Illness

Key Features of Term Assurance with Critical Illness Key Features of Term Assurance with Critical Illness Key Features of Term Assurance with Critical Illness The Financial Conduct Authority is a financial services regulator. It requires us, Aviva, to give

More information

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Simply Smarter Life Insurance Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Budget Direct Life Insurance and Budget Direct Accidental Death Insurance

More information

LifeProtect. Serious illness cover. Protecting YOU FROM THE BIGGEST RISKS YOU LL FACE

LifeProtect. Serious illness cover. Protecting YOU FROM THE BIGGEST RISKS YOU LL FACE LifeProtect Serious illness cover Protecting YOU FROM THE BIGGEST RISKS YOU LL FACE Important Note - Please read Zurich s Serious Illness Cover is subject to terms and conditions which are contained in

More information

Mortgage Term Personal Term Business

Mortgage Term Personal Term Business SELF ASSURANCE Mortgage Term Personal Term Business Key features you need to know and understand You may have arranged your plan through an Intermediary. If so, you should contact them to discuss your

More information

Assurant Supplemental Coverage

Assurant Supplemental Coverage TEXAS Assurant Supplemental Coverage Plans that pay cash benefits right to you Time Insurance Company Assurant Health is the brand name for products underwritten and issued by Time Insurance Company. Cash

More information

OUR BUSINESS MENU PLAN

OUR BUSINESS MENU PLAN KEY FACTS OF OUR BUSINESS MENU PLAN Protection Business Menu Important information you should read WHAT S INSIDE See if our plan is right for you 3 The aims of our plan 3 Your commitment 4 The risks 4

More information

Key Features. Pegasus. Key features of the Pegasus Personal Assurance plan. Important information you need to read.

Key Features. Pegasus. Key features of the Pegasus Personal Assurance plan. Important information you need to read. Pegasus Key Features Personal Assurance Plan Key features of the Pegasus Personal Assurance plan. Important information you need to read. The Financial Services Authority is the independent financial services

More information

Low Start Critical Illness with Term Assurance Key Facts

Low Start Critical Illness with Term Assurance Key Facts Low Start Term Assurance Key Facts Contents Section A: About Low Start Page A1 What is Low Start? 4 A2 Low Start s aims A3 How does Low Start - Critical 4 Illness with Term Assurance work? A4 Your commitment

More information

Critical Illness Insurance. Second Chance for Children 30 days to 17 years

Critical Illness Insurance. Second Chance for Children 30 days to 17 years Critical Illness Insurance Second Chance for Children 30 days to 17 years Second Chance for Children Protect your children in case of critical illness so you can afford to stay by their bedside If one

More information

Your Policy Conditions

Your Policy Conditions Provided by Friends Life Life Insurance Your Policy Conditions Key features of Tesco Bank Life and Critical Illness Insurance Inside you ll find full details about Tesco Life Insurance. Key features of

More information

Kent Police Federation

Kent Police Federation Kent Police Federation Personal Accident & Sickness, Critical Illness Benefit Scheme Effective from 1 January 2015 Summary of cover Kent Police Federation offers this scheme for Kent Police Officers. The

More information

Group Critical Illness Insurance

Group Critical Illness Insurance Group Critical Illness Insurance 145 Wellington Street West Toronto, Ontario, M5J 1H8 www.chartisinsurance.com Overview Chartis Insurance is happy to bring you this versatile Group Critical Illness plan

More information

Living Benefit Plans

Living Benefit Plans Living Benefit Plans What is Critical Illness Insurance? Critical Illness Insurance pays a lump sum Benefit upon diagnosis of a covered condition, such as, heart attack, cancer and stroke. History Origins

More information

Individual Living Benefits Product Portfolio. Personal income, lifestyle and business protection

Individual Living Benefits Product Portfolio. Personal income, lifestyle and business protection Individual Living Benefits Product Portfolio Personal income, lifestyle and business protection PROFESSIONAL MARKET The Professional Series policy OBJECTIVE n Provides non-cancellable coverage that includes

More information

Asteron Life Business Insurance

Asteron Life Business Insurance Asteron Life Business Insurance What lump sum covers are available with Asteron Life Business Insurance? Life Cover Life Cover pays a lump sum of money if you pass away or become terminally ill. Total

More information

CRITICAL ILLNESS INSURANCE. ExtensiA. The ideal complement to your group insurance

CRITICAL ILLNESS INSURANCE. ExtensiA. The ideal complement to your group insurance CRITICAL ILLNESS INSURANCE ExtensiA The ideal complement to your group insurance Peace of mind within your reach Today, progress in medicine and breakthroughs in research have significantly extended our

More information

Zurich Life Risk Trauma cover

Zurich Life Risk Trauma cover Product Summary Issued 21 December 2015 Zurich Life Risk Trauma cover Adviser use only Trauma insurance provides a lump sum payment on diagnosis or occurrence of a covered trauma. This is a summary only

More information

Your Policy Conditions

Your Policy Conditions Provided by Friends Life Life Insurance Your Policy Conditions Key features of Tesco Bank Life and Critical Illness Insurance Inside you ll find full details about Tesco Life Insurance. Key features of

More information

For expert advice call 01494 451441

For expert advice call 01494 451441 Protection Planning Life and Protection Insurance The cost of insurance, particularly life insurance has fallen over recent years, whilst the quality of cover has in many cases increased. With this in

More information

Your critical illness protection plan

Your critical illness protection plan Your critical illness protection plan It could happen to you It is estimated there are over 70,000 heart attacks in Canada each year. There are between 40,000-50,000 strokes in Canada each year. An estimated

More information

Z Care. Sow the seeds of a resilient future

Z Care. Sow the seeds of a resilient future Z Care Sow the seeds of a resilient future Secure your best chances of recovery Despite an increasing trend in the number of people diagnosed with critical illness today, more are surviving it. Studies

More information

Key Features of Mortgage Life Insurance

Key Features of Mortgage Life Insurance Key Features of Mortgage Life Insurance Key Features of Mortgage Life Insurance The Financial Conduct Authority is a financial services regulator. It requires us, Aviva, to give you this important information

More information

For customers Friends Life Individual Protection. Childcover benefit

For customers Friends Life Individual Protection. Childcover benefit For customers Friends Life Individual Protection Childcover benefit Helping to protect the whole family Most parents don t want to think about what would happen if their child became critically ill. However,

More information

Asteron Life Personal Insurance

Asteron Life Personal Insurance Asteron Life Personal Insurance Policy Document How to contact us If you need to make a claim Call us on 0800 737 101 Email us at claims@asteronlife.co.nz Fax us on 0800 808 144 or 04 495 8851 Write to

More information

Hibernian Aviva Mortgage Protection Cover. Taking the worry out of your mortgage

Hibernian Aviva Mortgage Protection Cover. Taking the worry out of your mortgage Hibernian Aviva Mortgage Protection Cover Taking the worry out of your mortgage Contents Protection Cover from Hibernian Aviva Page 1 Mortgage Protection Cover Page 2 Your plan benefits Page 3 Specified

More information

We understand that you would want multiple coverage against critical illnesses

We understand that you would want multiple coverage against critical illnesses PROTECT Enhanced We understand that you would want multiple coverage against critical illnesses PRUmultiple crisis cover Medical advancements over the years have led to better survival and recovery rates

More information

Group 2: Critical Illness Benefits

Group 2: Critical Illness Benefits Group 2: Zurich s cover is designed to free yourself and your loved ones from the potentially devastating financial impact that follows diagnosis with a critical illness. 1. Level Term Life or Earlier

More information

Key Features Document

Key Features Document Key Features Document Customer Services Freephone: 0800 169 7733 Main switchboard: 020 8546 7733 Office hours: Monday to Friday, 9am to 6pm E-mail csd@uk.combined.com Website www.combinedinsurance.co.uk

More information

ARE YOU PREPARED FOR A SERIOUS ILLNESS? WHAT IS LIVING ASSURANCE? WHAT DOES IT OFFER ME?

ARE YOU PREPARED FOR A SERIOUS ILLNESS? WHAT IS LIVING ASSURANCE? WHAT DOES IT OFFER ME? ARE YOU PREPARED FOR A SERIOUS ILLNESS? It s a fact of life that we all get sick, and sometimes seriously. The cost of recovery from an illness like cancer or from a heart attack can have a huge impact.

More information

Additional General Information regarding Personal Protection

Additional General Information regarding Personal Protection Additional General Information regarding Personal Protection Information regarding the research we used The research house we subscribe to regarding personal protection is Omnium. In a separate document

More information

Shackleton Life Bond Protection Insurance

Shackleton Life Bond Protection Insurance Shackleton Life Bond Protection Insurance Underwritten by OMART (Old Mutual Alternative Risk Transfer a company in the Old Mutual Group) Shackleton Life's Bond Protection Insurance value Proposition Ensuring

More information

CRITICAL CARE ADVANTAGE

CRITICAL CARE ADVANTAGE Health Protection CRITICAL CARE ADVANTAGE Be covered across three stages of illness - early, intermediate and critical The chances of a full recovery from a critical illness are now much higher due to

More information

Flexible Protection Flexible Protection Plan Plan

Flexible Protection Flexible Protection Plan Plan Flexible Protection Flexible Protection Plan Plan Key features of the Flexible Protection Plan (online quotation version) The Financial Services Authority is the independent financial services regulator.

More information

PERMANENT DISABILITY TOTAL AND COMPREHENSIVE CRITICAL ILLNESSES. PruBSN Employee Benefit & SUPPORT FINANCIAL ASSISTANCE INCOME REPLACEMENT

PERMANENT DISABILITY TOTAL AND COMPREHENSIVE CRITICAL ILLNESSES. PruBSN Employee Benefit & SUPPORT FINANCIAL ASSISTANCE INCOME REPLACEMENT PruBSN Employee Benefit YOUR COMMITMENT, THEIR WELL-BEING INCOME REPLACEMENT COMPREHENSIVE CORPORATE PACKAGE ACCIDENT COVERAGE CRITICAL ILLNESSES LIFE COVERAGE FINANCIAL ASSISTANCE & SUPPORT TOTAL AND

More information

Association of British Insurers

Association of British Insurers Association of British Insurers Statement of Best Practice for Critical Illness Cover May 2002 Introduction This Statement of Best Practice for Critical Illness Cover aims to help consumers understand

More information

Key Features of Mortgage Life Insurance

Key Features of Mortgage Life Insurance Key Features of Mortgage Life Insurance Key Features of Mortgage Life Insurance The Financial Conduct Authority is a financial services regulator. It requires us, Aviva, to give you this important information

More information

Insurance. Product Disclosure Statement. Life Insurance Superannuation Plan & Income Insurance Superannuation is closed. Document not up to date.

Insurance. Product Disclosure Statement. Life Insurance Superannuation Plan & Income Insurance Superannuation is closed. Document not up to date. Insurance Product Disclosure Statement Life Insurance Plan Trauma Insurance Plus Plan Trauma Insurance Plan Total and Permanent Disability Insurance Plan Activities of Daily Living Total and Permanent

More information

Extra Care Critical Illness Insurance Plan

Extra Care Critical Illness Insurance Plan Extra Care Critical Illness Insurance Plan 25,000 20,000 15,000 10,000 11,378 11,658 11,510 11,791 5,000 4,635 4,969 5,309 5,866 0 3,108 3,218 3,462 3,416 2001 2002 2003 2004 100 N 100 L 280 N 100 N/L

More information

Keyperson and Shareholder Protection. Business Momentum Adviser Guide

Keyperson and Shareholder Protection. Business Momentum Adviser Guide Keyperson and Shareholder Protection Business Momentum Adviser Guide Contents Page No. 1 Introduction 2 2 Choosing the right cover 2 3 Detailed Product Information 3 Life and Life and Permanent Total Disability

More information

INSURANCE KEY FEATURES OF: BUSINESS PROTECTION PLANS. This is an important document which you should keep in a safe place.

INSURANCE KEY FEATURES OF: BUSINESS PROTECTION PLANS. This is an important document which you should keep in a safe place. INSURANCE KEY FEATURES OF: BUSINESS PROTECTION PLANS This is an important document which you should keep in a safe place. 2 LEGAL & GENERAL BUSINESS PROTECTION PLANS KEY FEATURES USING THIS DOCUMENT. WHAT

More information

Critical illness report 2005

Critical illness report 2005 Critical illness report 2005 1 Critical illness report 2005 Critical Illness cover pays out a lump sum if you are diagnosed within the term of the policy with a critical illness that meets the policy definition.

More information

Life and Protection Insurance explained

Life and Protection Insurance explained OPW 01 (03/11) Demographik Life and Protection Insurance explained Openwork Limited is authorised and regulated by the Financial Services Authority. Registered in England 4399725. Registered office: Tri

More information

LIFE AND PROTECTION INSURANCE EXPLAINED

LIFE AND PROTECTION INSURANCE EXPLAINED LIFE AND PROTECTION INSURANCE EXPLAINED INTRODUCTION Most of us would like to think that when our lives come to an end, we ll be old, our loved ones will be financially secure and our financial responsibilities

More information