With Serious Illness Cover, all providers have what is called a “minimum survival period” clause in their plans. This is essentially the period of time you must survive from the point of diagnosis, and is usually between 11- 14 days depending on the insurer chosen.
So for example, if you suffered a heart attack and died a few hours later, your serious illness cover pays out nothing as you did not survive the 11-14 days from when you had the heart attack.
How to solve this problem? Simple, ensure you have both Life Insurance and Serious Illness on your plan. So for the example above, a major heart attack followed by death a few hours later, the Life Insurance will pay out.
However, if you are lucky and recover from the heart attack you can claim the serious illness cover.
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