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A terminal illness diagnosis is traumatic, with many questions about what happens next. Ultimately, you, and your family and friends, want to make sure you enjoy a good quality of life for the time remaining, and where possible, spend some time getting your affairs in order. If you have a 1Life Insurance Pure Life Cover policy, the terminal illness benefit can help you with both!
What is a terminal illness?
A terminal illness is an incurable illness or condition that is expected to result in the death of the patient, such as end-stage cancer or advanced heart disease. Your GP or specialist will consider many factors when making a terminal illness diagnosis. Crucially, a terminal illness does not respond to treatment, unlike a critical illness which may respond to treatment.
1Life Insurance Pure Life Cover terminal illness benefit
1Life Insurance pure life cover policies include a terminal illness benefit that will pay the full sum assured to the life assured if a terminal illness is diagnosed and life expectancy is less than 12 months from the date of diagnosis, or the timeframe specified in your policy schedule. The pay-out ensures that you have funds to make the last months of your life as comfortable as possible and can get your affairs in order before passing away.
Claiming the terminal illness benefit will require a diagnosis from your doctors as well as the 1Life underwriting team. Claims will be individually assessed, so medical reports will be requested. But once the information is verified and the diagnosis confirmed, valid claims can be paid quickly, ensuring you have access to funds when you need them. Once a valid claim is paid the policy ends, and no further premiums are due, and no benefits can be claimed.
Valid claims are those where all the policy terms and conditions have been met, such as all premiums paid when due and all health information fully disclosed when applying for a policy. In addition, claims cannot be made during any waiting periods that apply to your policy. You can find details on waiting periods in your policy schedule.
Terminal illness cover pay-outs can help improve the final months of your life
Terminal illnesses can be challenging to deal with, and the pay-out from a life insurance policy can help with some of the practical matters so you can find ways to enjoy life.
Physical healthcare challenges
You may have healthcare challenges that could include difficulty coping with daily living tasks, such as walking, bathing and preparing food, and you may require part or full-time care as well as medication such as painkillers.
Terminal illnesses take a high physical toll, and having access to care and appropriate medication can improve your life dramatically. You may also be able to improve your quality of life with equipment such as a motorised wheelchair and permanent supply of oxygen, the costs of which will challenge any budget. In addition to physical challenges you may face, the trauma of a diagnosis can lead to mental health issues, which counselling can help you deal with. 1Life Insurance’s terminal illness benefit will ensure you have funds available for these, and any other healthcare and support services you need.
Getting your affairs in order
You may also want to ensure that all your affairs are in order, such as paying any outstanding debts and updating your will. In addition, you may need to find funds to replace a salary if you are no longer able to work. You can use the pay-out from a terminal illness benefit to pay debts and for any additional services you need, as well as using the funds for those monthly expenses that a salary would normally cover.
Enjoying your life
If your physical challenges are not too extensive, you may also want to travel to a dream destination, enjoy time with friends and family, and even take up a new hobby. If you haven’t had the funds for this previously, or have been putting it off, a pay-out for a valid claim can help you achieve your dreams.
Your time with loved ones
Your 1Life Insurance policy is there for you when you and your loved ones need it most. If you have a terminal illness, the pay-out can help you enjoy your final months in peace and comfort.
