Critical Illness Insurance is also known as Trauma Insurance and has been one of the additions to the ever-evolving family of insurance policies. Critical illness insurance has provided cover for millions of Australians for critical illnesses, such as cancer, heart disease, and stroke.

Critical Illness Insurance is a type of policy which pays you a lump sum if you have been diagnosed or are suffering from any critical illness listed in the policy. The illnesses covered may vary from provider to provider, but the basic illnesses under this, aside from cancer and heart disease, are stroke and a major organ transplant.

Critical Illness Insurance works similarly to life insurance except that a lump sum is paid to you as early as the time you are diagnosed with a critical illness. This means that you don’t have to die before you can fully benefit from it.
Why Do You Need Critical Illness Cover?

Anyone who has suffered or is suffering from any type of critical illness knows what drastic changes it can cause your life. Not only does it change your lifestyle, but how you look at it as well. These changes could be largely felt when medical and financial obligations begin to pile up brought about by the critical illness.

There is a huge difference between getting over an illness and recovering from a financial setback. Thus, having Critical Illness Insurance can make a huge impact on your life during an illness.

Critical Illness insurance can give you cover where your health insurance cannot extend its cover. The financial benefit you can get from it can help your condition improve and give you access to the best medical treatment and rehabilitation facilities anywhere in the world.

Moreover, you can also use your critical illness insurance benefits to pay off your debts. The financial freedom it offers is priceless. Moreover, critical illness insurance gives you access to the best care available. You can even hire a housekeeper to help you with your daily chores while you are recuperating.
The TAL Critical Illness Edge

There are hundreds, of insurance providers in the market offering different types of packages. All the information can make your head swim.

Aside from considering the price, another important factor that comes into play is the company that provides or offers the insurance policy.

The TAL Critical Illness is one of the many insurance policies TAL Australia has been offering through its Accelerated Protection. TAL Australia was established in 1990, but has been in the industry since 1869 in New Zealand. TAL Australia has provided almost 2.5 million Australians with the necessary cover since its inception, one of which is the TAL Critical Illness.

With a company who has a history of providing quality insurance and has been touted as the Best Life Insurance Company in 2009 by the Australian Banking and Finance Magazine Awards, you are sure to get one of the best coverages available.

The TAL Critical Illness Benefits and Features

The TAL Critical Illness pays you a lump sum if and when you are diagnosed with a terminal illness specified in the policy. Some of the most common medical conditions that are under this cover are cancer, heart disease, stroke, or a major surgery.

The TAL Critical Illness can be purchased as a separate policy with the TPD Cover attached as a benefit, or as an attached benefit of the TAL Life Insurance.

Furthermore, the TAL Critical Illness comes in two flavours to better suit your needs – the TAL Critical Illness Standard and the TAL Critical Illness Premier. Both have the same benefits and features, with some additional benefits in the Premier policy. Listed below are the common benefits found in both policies:

• Paralysis Support Benefit doubles the lump sum payment of the Critical Illness Benefit to a maximum of $2,000,000 if you are paralysed.
• Death Buy -Back Benefit allows you to re-purchase your Critical Illness cover after a 100% benefit has been paid to you.
• Inflation Protection Benefit protects your premiums against inflation by increasing your cover in line with the Consumer Price Index, or less than 5%.
• Premium Freeze Benefit freezes your premiums by decreasing your cover. It is made available on your 30th birthday on a stepped premium policy.
• Guaranteed Future Insurability Benefit allows you to increase cover without providing further medical proof in the event of a marriage, birth of a child, or an increase stake in business where you are one of the principal holders.
• Financial Planning Benefit reimburses you to up to $5,000 when you received financial planning advice after claiming a benefit.
• Accommodation Benefit pays an immediate family member up to $250 a day for 14 days when he or she needs to take care of you in the event you are confined to bed 100km away from home.
• Child’s Critical Illness Benefit pays you a lump sum of up to $10,000 when your child is diagnosed with critical illness listed on the policy.

Furthermore, the TAL Critical Illness Premier has additional benefits included:

• Advancement Benefit is an advanced payment to cover your immediate expenses.
• Female Critical Illness gives you an early payment equivalent to 20% of the benefit amount for conditions including pregnancy complications and congenital abnormalities.
• Needle-stick Benefit is ideal for those whose occupation is exposed to needle stick injuries.

Critical illness can be very life changing and it can have dire effects should you be unprepared for it. Having the TAL Critical Illness Insurance gives you and your family peace of mind knowing you are covered anytime.