Specified Serious Illness
What is Specified Serious Illness Cover?
It is a lump sum that is paid out when you are diagnosed with one of the many illnesses that are covered on your plan. There are more than 55 different illnesses covered such as cancer, stroke, heart disease and multiple sclerosis to mention but a few.
Different lenders cover a wide range of illnesses and some of them will provide what they call Partial Cover on some of the less serious illnesses. Partial Cover is where a certain level of benefit is paid that is lower than the full amount you are covered for. Take, for example, a person with €100,000 Specified Serious Illness Cover. In the event of a successful claim for a partial payment of €40,000, they would maintain the other €60,000 cover on their policy.
You can set up Specified Serious Illness on its own, or in conjunction with your Life Cover. It can be set up to repay your mortgage or to replace loss of income while you are out of work with a diagnosed illness.
In the event of a claim, you must meet the qualifying criteria of the insurance provider, to have a valid claim. DW Financial will be here to assist you every step of the way should a claim arise.
There is a growing importance and need to have Serious Illness Cover, particularly in relation to easing the burden of mortgage repayments. We endeavour to maintain our record of processing such claims, with a 100% success rate thus far.
Contact us today to find out more about the benefits of Specified Serious Illness Cover and for a comprehensive guide on the illnesses covered.