When looking for the right cover for a client there are at least three important things to consider.

  1.  A standalone benefit will always be paid out independently of the life cover but an accelerated benefit reduces the life cover by an amount equal to the dread disease claim.
  2. At quote stage a reinstatement option can be selected on the life and dread disease benefits but the member will need to survive for a specified period in order for both benefits to pay out.
  3. A core benefit covers a shorter list of traumatic events but it also only pays out once whereas a comprehensive benefit covers a longer list and pays out more than once.

Each insurer has their own lists and periods, and these change from time to time, but these are three things that should always be considered when assessing the dread disease or trauma cover options.

Thank you and regards,

The TSA Team

All information provided in TSA Connect newsletters is intended to inform and explain but please remember to always check the current terms on policies when considering options and advising clients.

You’ll find all back issues of TSA Connect by visiting our blog and you can do that by clicking here.