Overview

The benefit known as terminal illness cover can be found in various life insurance policies. A life insurance policy including terminal illness benefit pays out the sum assured if the policyholder is diagnosed with some kind of terminal illness and the same will be defined by the insurer. Ultimately it means that the policyholder has been told that they have a life expectancy of less than a year (12 months).

It all seems straightforward while buying a life insurance policy, it will pay out the sum assured in an event of your death within the term of the policy. Or, when the policyholder has already been told by the GP and/ that he/she has an illness which means the person will pass away within the next 12 months.

Why is it important to read small prints?

Small prints can have some important terms and conditions or exclusions, which means it may not cover what you suppose will be covered.

So, as a policyholder, you may not be able to receive benefits that you suppose you are entitled to.

Such cases can lead to an unsuccessful claim, in the event when the policyholder is suffering and is expecting (rightly or wrongly) to receive a lump as the policyholder has been paying premiums to the insurer for years!

Of course, your insurance provider must explain to you the details and features of the policy, but with time, memory fades and you can forget some important points, especially those written in the small prints.

Final words

It is advisable to read all the documents and terms and conditions carefully before accepting any life insurance policy. If you want to know more about the importance of reading small prints, get in touch with our life insurance professionals.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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