Terminal illness cover
Summary: Terminal illness cover allows you to claim for an early payout on your life insurance policy if you have been diagnosed with less than 12 months to live.
Contents
What is terminal illness cover?
Terminal illness cover allows you to claim for an early payout on your life insurance policy if you’ve been diagnosed with less than 12 months to live. This can support you and your family financially and allow you to get your affairs in order, whilst you are still here.
It is automatically included in your life insurance policy as standard, but if you have 12 months or less left on your policy term, will not be eligible for this cover.
What are the benefits?
- Terminal illness cover can act as an early payout on your core life insurance policy, this means you can claim on your life insurance if you are diagnosed with less than 12 months to live.
- The lump sum is paid directly to you, giving you the flexibility to spend your payout however you like and support you and your family financially.
- It is included free with every life insurance policy with Beagle Street, so it doesn’t cost you any extra.
Can I claim terminal illness cover on a joint policy?
For joint insurance policies, the benefit applies to both lives but will only pay out once the first life assured is diagnosed with a terminal illness, meaning the policy would no longer exist and the other person will need to take out a new policy to remain covered.