Provider: BUPA Health Assurance Product: Critical Illness with Life Cover. The plan is designe...
Provider: BUPA Health Assurance
Product: Critical Illness with Life Cover.
The plan is designed to pay the chosen level of benefit if the person covered die, suffers or undergoes one of the specified critical illnesses or operations covered under the scheme. The plan is available on a level, mortgage protection or renewable term basis.
Minimum acceptable age at commencement: 18
Maximum acceptable age at commencement: 74
Minimum policy term: Five years
Maximum expiry age: For level and mortgage protection cover ' 85. For renewable cover ' 70.
Maximum term (years): For level and mortgage protection cover ' 40. For renewable cover ' 10 years.
Maximum sum assured: Applications for benefits in excess of £300,000 will be considered at the sole discretion of BUPA on the basis of financial evidence of income or assets. If the main occupation of the person covered is running a home, or raising a family the maximum is up to 2.5 times their spouse's income and assets.
Minimum acceptable monthly premium: £5 excluding policy fee.
Minimum acceptable annual premium: £50 excluding policy fee.
Premiums paid by direct debit: Yes
Premiums paid by cheque: Yes
Monthly policy fee: £3
Life cover included automatically: Yes
Life cover is offered as an option: Life cover is automatically included.
Plan available without full death cover: No
Level critical illness benefit: Yes
Decreasing critical illness benefit: For mortgage protection term cover, the level of cover reduces each year on the same basis as the capital due on a repayment mortgage reduces with an interest rate of 12%. The plan will pay the lesser of this amount or the remaining amount on any mortgage the scheme is used to protect.
Increase term after start date: Yes ' the planholder may request a change to the terms of the contract at any time. BUPA will consider any requests at their discretion.
Decrease term after start date: Yes
Increase sum assured subject to underwriting: Yes
Decrease sum assured subject to underwriting: Yes
Change lives assured after start date: Yes
Waiver of premium available: Yes
Minimum age at entry to include waiver benefit: 18.
Age waiver cover ceases for a female/male policyholder: 65
Waiver definition of disability: Employed, homemakers and unemployed.
Waiver benefit amount indexed: Yes
Waiver benefit covers both lives: Waiver can cover any of those people covered under the plan.
Mortgage interest waiver option: No
Unemployment cover option: No
Joint life first claim basis available: If joint cover is selected the plan will pay out only once. Replacement option is available for joint applications
Joint life second claim basis available: No
Joint life with 2x cover basis available: No
Plan can be used for keyperson protection: Yes ' on either a keyperson or partnership/shareholder protection basis.
Plan can be used for partnership/shareholder protection: Yes
Sum assured indexation in line with RPI: RPI option
Sum assured indexation in line with average earnings AEI option: Yes
Sum assured indexation in line with a fixed percentage: Yes ' 3% and 5%.
Guaranteed insurability option: Yes
Guaranteed insurability offered to standard rated cases only: Only if scheme is not accepted on standard terms.
Guaranteed insurability includes life cover and critical illness: N/A
Guaranteed insurability on marriage: Yes
Guaranteed insurability on childbirth or adoption: Yes
Guaranteed insurability on moving house/ increase in mortgage: Yes
Guaranteed insurability on increase in business liabilities: Yes
Guaranteed insurability on an increase in inheritance tax liability: No
Critical illness cover as a percentage of life cover: The level of benefit is the same for both life cover and critical illness benefit and is payable on a first event basis.
Permanent health insurance option: Available as a separate plan.
Redundancy cover option: No
Accidental death benefit option: No
Fracture cover option: Yes
Replacement/renewal option: Replacement cover covers two people and a new scheme can be taken out after a claim is paid for one of those covered, or they die.
The new scheme must be on the other person covered only and to be for no more than the existing level of benefit. The term of the new scheme cannot exceed the term of you existing scheme. This option is only available where the initial scheme could continue for more than five years.
Premium holiday option: No
Regular income facility available: No
Guaranteed rates available: For level term cover and mortgage protection cover, the planholder may select either guaranteed premium rates or five yearly reviewable rates.
Number of years before the first premium review: Every five years.
Non-smoker rates offered: Yes 'a smoker is defined as someone who has smoked cigarettes, pipe or cigars in the last 12 months.
Own doctor medical available: Yes ' subject to individual consideration.
Paramedical examination available: Yes
Free cover during underwriting: Yes ' if connected with a mortgage.
Insurer pays for cost of obtaining underwriting evidence: Yes
Insurer pays for cost of claims evidence: Yes
Number of IFAA core critical conditions used:
Seven
Number of other conditions covered: 19
Children's benefit: All children up to age 18, including any that have been legally adopted or for whom the member is an appointed legal guardian, can be covered under the membership when joining, at no extra charge provided they are in good health. This free cover can continue until they reach age 18, when they can apply for BUPA critical illness cover of their own.
Child maximum benefit: The child benefit is limited to 25% of the initial level of cover or £20,000, whichever is lower.
Minimum age for children's benefit: Three months.
Number of ADLs defined: Six
Number of ADLs failed for claim: Three
Loss of independent existence minimum age: None
Total permanent disability linked to any suited occupation: Where the member is totally and permanently unable to carry out their own and any other occupation which they are reasonably suited as a result of their education, training, or experience.
Deferred period for any suited occupation TPD: Six months.
Maximum age for any suited TPD: 65
