Critical Illness Cover can pay a lump sum benefit to you if you’re diagnosed with or suffer a defined critical illness like cancer, stroke or major heart problems, such as a heart attack or coronary artery disease requiring by-pass surgery, and you survive for 30 days after this occurring. It’s designed to help with out of pocket costs like medical bills and lifestyle expenses, such as relocation costs for your family while you’re under medical care.
With a Simple Life policy, you can buy between $30,000 and $200,000 of Critical Illness Cover, in $10,000 increments. For example, you can buy $80,000 worth of Critical Illness Cover, but you can’t buy $75,000 worth. The cover amount you choose is known as your Critical Illness Cover benefit and is stated on your policy schedule. This lump sum benefit will be paid once only.