Specified Illness
This type of cover pays you a lump sum if you suffer one of the specified illnesses covered on the plan. This lump sum aims to help you and your family maintain your standard of living and help you to recover without additional financial worries.
Like Income Protection this is a living benefit but differs in that it provides a lump sum to help with the additional expenses that may occur in relation to the illness. Such as additional nurse care or home modifications for wheelchair mobility.
It is important to note that claims are paid out against the illness specified on the policy only.
This cover complements income protection and should not be viewed as an alternative. For example the two largest areas for claims under income protection – Mental Health and Musculoskeletal are not typically covered under specified illness policies.
Mind My Money provide a complimentary protection review to enable you identify where your family maybe financially vulnerable.
This can help improve your financial resilience and cover you against the uncertainties of life. They do happen!
According to Aviva’s risk calculator, for a couple in their 30s there is a 91% likelihood of either;
i) not being able to work for a month or longer,
ii) incurring a serious illness or
iii) dying before they retire!
Request your review today, and make sure your family is properly protected.
Your financial adviser can help you establish the most appropriate plan for your family.
Plan payments must be kept up to date to ensure cover is maintained.