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Early Payout for critical illness has been becoming more popular since the roll-out of Great Eastern’s plan on this.
The background to this was with the onset of critical illness, policyowners found it difficult to claim given the onerous claim definition and required acceptance of medical evidence by insurer panel of doctors. TODAY ran an article (1 April 09)on this where doctors spoke out on the issue.
A closer look at GE’s Early Payout for CI reveals that it covers different levels of payout according to different severity levels for a list of 20 CIs and one severity level for remaining 10 CIs (therefore a total of 60 medical conditions based on its brochure). However, one must bear in mind that the zero waiting period between claims apply only to claims made across different illnesses or across severity levels of the same illness. For e.g. 1st payout is made for Level 1 (severity level 25) lung cancer, 2nd payout is made for Level 1 heart attack and 2nd payout for cancer will only occur provided it’s for a different organ or a higher severity level for lung cancer. Death benefit is capped at 10,000. Read more...[caption id="attachment_2931" align="alignright" width="150" caption="Photo by Kyle May"][/caption]
Early Payout for critical illness has been becoming more popular since the roll-out of Great Eastern’s plan on this.
The background to this was with the onset of critical illness, policyowners found it difficult to claim given the onerous claim definition and required acceptance of medical evidence by insurer panel of doctors. TODAY ran an article (1 April 09)on this where doctors spoke out on the issue.
A closer look at GE’s Early Payout for CI reveals that it covers different levels of payout according to different severity levels for a list of 20 CIs and one severity level for remaining 10 CIs (therefore a total of 60 medical conditions based on its brochure). However, one must bear in mind that the zero waiting period between claims apply only to claims made across different illnesses or across severity levels of the same illness. For e.g. 1st payout is made for Level 1 (severity level 25) lung cancer, 2nd payout is made for Level 1 heart attack and 2nd payout for cancer will only occur provided it’s for a different organ or a higher severity level for lung cancer. Death benefit is capped at 10,000. Read more...
[/caption]
Early Payout for critical illness has been becoming more popular since the roll-out of Great Eastern’s plan on this.
The background to this was with the onset of critical illness, policyowners found it difficult to claim given the onerous claim definition and required acceptance of medical evidence by insurer panel of doctors. TODAY ran an article (1 April 09)on this where doctors spoke out on the issue.
A closer look at GE’s Early Payout for CI reveals that it covers different levels of payout according to different severity levels for a list of 20 CIs and one severity level for remaining 10 CIs (therefore a total of 60 medical conditions based on its brochure). However, one must bear in mind that the zero waiting period between claims apply only to claims made across different illnesses or across severity levels of the same illness. For e.g. 1st payout is made for Level 1 (severity level 25) lung cancer, 2nd payout is made for Level 1 heart attack and 2nd payout for cancer will only occur provided it’s for a different organ or a higher severity level for lung cancer. Death benefit is capped at 10,000. Read more...
