Serious Illness Insurance
Thankfully, not all serious illnesses are terminal. But even so, they can certainly impact you and your family in ways you may not expect, and the financial burden can be immediate and substantial.
If you are the family breadwinner, the financial impact of a serious illness is clear, and the payment may cover some of your lost income during this time. If you are your family’s main caregiver, all the things you used to do may need to be done by someone else while you recover.
The benefit amount can be used any way you wish, such as for everyday expenses, your mortgage, medical bills, for childcare or school fees.
Features of Serious Illness Insurance
The benefit is paid if you suffer one of the following defined serious illnesses:
- Heart Attack,
- Stroke, or
- Coronary Artery Bypass Surgery.
Things you should know
- Each Serious Illness event is defined within the policy and each claim will be assessed against these definitions.
- Exclusions apply to this cover. Importantly no claim will be paid for any condition that first becomes apparent before the commencement of the cover or within the first three months of cover. For more details about exclusions please refer to the PDS.
- This cover expires on the policy anniversary following the insured’s 65th birthday.
- If you claim on this cover, it will reduce the amount of your life insurance benefit by the same amount as the claim.
For more information about Serious Illness Insurance, download the PDS.