Critical Illness Cover is an important financial safety net. It’s designed to pay out a fixed cash amount if you're diagnosed with one of 41 conditions covered during the policy term. You should read the
Key Features Document (PDF: 208KB)
Policy Terms and Conditions (PDF: 153KB)
carefully before buying a policy.
This product is a Level Term Assurance
policy with Critical Illness Cover
included. This policy could pay out a cash lump sum if you are diagnosed with one of our specified critical illnesses or if you die during the policy term. It also pays out if you are terminally ill and meet our definition, except in the last 12 months of the policy.
- Critical Illness Cover is designed to pay out on diagnosis of a specified condition including cancer, heart attack and stroke. Not all types of cancer are covered under critical illness plans. Because of advances in medicine not every type of cancer will have a severe impact on your lifestyle, if treated early enough. For example, a cancer needs to have spread or reached a specified severity to be covered.
- It's essential that you give us all the information we ask for during the application and that it's accurate. If you fail to mention a medical condition, for example, we may not pay out in the event of a claim.
- These policies are not savings or investment products and have no cash value unless a valid claim is made.
- If you stop paying the premiums before the end of your policy, your cover will end after 30 days and you will not get anything back.
- The policy will end if we pay out the lump sum (either on death, terminal illness or diagnosis of a critical illness). If this amount has not been paid out by the end of the term, the policy will end and you'll get nothing back.
- When you apply you need to answer the questions we ask you fully, honestly and accurately. Please don't assume that we'll contact your doctor. It's your responsibility to fill in the application accurately.
- You need to let us know if any of the information you gave us in your application changes before the plan starts.
Full definitions of the illnesses covered and the circumstances in which you can make a claim are given in our
Guide to Critical Illness Cover PDF (PDF: 140KB) .
- The main factors are your age, occupation, smoker status, health, the level of cover you need and type of contract that you choose. Normally, the older you are, the higher the premium. Your individual height, weight, medical history and lifestyle are all assessed.
- If you decide to include Critical Illness Cover in your plan, you can choose between guaranteed or reviewable premiums. If you choose reviewable premiums, these are reviewed every five years and could increase or decrease.
- If you choose to exercise your Guaranteed Insurability Option there are also certain terms and conditions for increasing your cover. These are outlined in the
Key Features Document (PDF: 208KB) which you should read carefully.
- If you take out cover with us you have the option to pay your premiums monthly or annually. If you decide to pay annually you will receive a discount, giving you cheaper premiums. Find out how much you could save.