People buying life insurance policies from August 26 this year will be affected by the changes in the definitions of critical illness.
The changes involve the tightening of certain definitions, for example: “Deafness (Loss of Hearing)” has been amended to “Deafness (Irreversible Loss of Hearing)”, “Major Cancers” to “Major Cancer”, resulting in more exclusions.
For those looking to get life insurance, here is an extensive list of the major changes that will be happening to the Critical Illness Definition that will be implemented in August 2020.
TL;DR: Here Are The Changes To Critical Illness Definitions That Will Be Implemented Come 26 Aug 2020? Pros Cons 1. Those suffering from Thalassaemia Major or Haemophilia due to a blood transfusion can get covered under the new definition guidelines.1. Stricter, more exclusions for Benign Brain Tumor, Coma, Stroke, Aplastic Anaemia, Heart Attack, and Major Cancers among other things.
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