The benefit of Life Care Cover.
Friday, 12 February 2010
Benefits of Life Care come when needed the most. About three years ago, Lorraine* (who’s now in her mid 60s), found out she had colon cancer. Fortunately, her Life Care policy with Fidelity Life paid out a lump-sum payment as a result.
15 months later Lorraine received a second cancer diagnosis, and made a second claim on her Life Care policy and within a month we paid her another lump-sum.
Just over a year after the second claim was settled, Lorraine’s doctor gave her the devastating news that her cancer had spread and was terminal. This meant that Lorraine was entitled to a further lump-sum benefit under her Life Care policy, when she needed it most.**
* Names and personal details changed to protect privacy
** This information is indicative only, and is provided as an example to illustrate the benefits available under Life Care from Fidelity Life. Talk to your InsuranceNet financial adviser about your options and what’s right for you.
What’s Life Care?
Life Care is a cost-effective critical illness insurance designed to provide continued protection for separate illnesses, in conjunction with Life Cover. Under the benefit you are eligible for up to five Life Care claims, with 20% of the total sum insured payable per claim. It covers 43 illnesses and conditions.
There’s also a range of additional options available to add to Life Care, including the Total & Permanent Disability benefit, which gives protection against the impact of a long-term disability with a lump sum payment.
Why would you need it?
Upon the diagnosis of a critical illness, lump-sum payments can play a vital role to help meet financial requirements such as medical fees, mortgage repayments and unexpected expenses. Lots of people recover well enough to live many good quality years of life after a serious health-related incident.
Many insurance policies provide a lump sum payment after the first diagnosis of a specified illness, but usually the benefit expires. However, the Fidelity Life Care benefit is different because it speeds up the payment of Life Cover benefits.
If you die and the maximum of five claims have not been paid the balance of the sum as assured will be paid as part of the Life Insurance benefit.
This policy summary is not, and is not intended to be, a policy document. Details of definitions, benefits, terms and conditions are contained in the official policy document which is available from your financial adviser. You should read the policy document carefully to make sure you understand exactly what cover is provided under each benefit.