What is the Major Illness and Injury Benefit?
The Major Illness and Injury Benefit is optional cover from $25,000 up to 50% of the Life Benefit in the event that one of the following specified conditions occurs (after the relevant 90 day qualifying period); • cancer, • chronic kidney failure, • coronary artery bypass surgery, • heart attack, • multiple sclerosis • paralysis, • severe burns or • stroke This payout can be used for anything you want – for example, to cover additional medical costs, to reduce debts and cover day to day living expenses. If a Major Illness and Injury Benefit is paid, your Life Benefit premium is reduced by that amount, and your ongoing Life cover premium will also be reduced accordingly. After age 70, the Major Illness and Injury Benefit changes to cover you for loss of independent existence only, rather than the specified conditions.
Related Questions
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