DEFINITION
A critical illness, non-medical 20 year premium paying plan, which provides for a lump sum benefit on the first diagnosis of Cancer. Cancer is the presence of uncontrolled growth and the spread of malignant cells. The term “Cancer” also includes leukaemia, lymphomas and Hodgkin’s disease.
PURPOSE OF PLAN
To provide cash on the first diagnosis of cancer.
MINIMUM COVERAGE
The policy provides for a minimum coverage of BZ$30,000.00.
MAXIMUM COVERAGE
The policy provides for a maximum coverage of BZ$60,000.00.
ISSUE AGES
The policy may be issued to males and females between the ages of 16 and 60 years inclusive. The plan is issued on an ‘age nearest’ basis.
NEW LIFE BENEFIT
The Basic Sum Assured is payable on the first diagnosis of Cancer and where death does not occur within thirty (30) days immediately following the date of diagnosis.
The policy will then terminate.
Claims must be made in writing no later than six (6) months after diagnosis of Cancer.
WAITING PERIOD
The Policy has a ninety (90) day waiting period during which time no benefits are payable.
EXCEPTIONS
No benefits are payable on diagnosis of Cancer if it was caused by or it resulted from any “Pre-Existing Condition”.
A Pre-Existing Condition is either:
- The existence of or symptoms which could cause an ordinary prudent person to seek diagnosis, care or treatment before the policy was in force or before the end of the waiting period;
or
- A condition for which medical advice or treatment was recommended before the Policy was in force or before the end of the waiting period.
PAYMENT OF PREMIUMS
Premiums are payable for 20 years.
REFUND PREMIUM BENEFIT
At the end of 20 years all premiums paid will be refunded and the Policy will terminate.
NON-PAYMENT OF PREMIUMS
The Policy will lapse without value if premiums are not paid within thirty days after they fall due. The policy is not reinstatable; however, application may be made for a new one.
DEATH BENEFIT
All premiums paid are refunded on death if death occurs before cancer is first diagnosed.