Serious Illness Cover

Question 1

How many conditions does SIC 1x cover?

Answer 1

114

Question 2

How many conditions does SIC 2x cover?

Answer 2

143

Question 3

How many conditions does SIC 3x cover?

Answer 3

174

Question 4

Why do some mortgage networks (e.g MAB and Openwork) not allow their brokers to recommend SIC 1x?

Answer 4

Because it does not pay out 100% on all ABI conditions

Question 5

What is the 4/4/60 model?

Answer 5

4 lifestyle behaviours lead to 4 major diseases that contribute to 60% of deaths worldwide

Question 6

What categories does SIC 1 cover?

Answer 6

A-D- 100%-25%

Question 7

What categories does SIC 2 cover?

Answer 7

A-E- 100%-15%

Question 8

What categories does SIC 3 offer?

Answer 8

A-G- 100%-5%

Question 9

What is accelerated cover?

Answer 9

Life WITH SIC- the pot is combined and so SIC pay outs take away from Life cover also

Question 10

What is additional cover?

Answer 10

Where Life and SIC are in separate pots and do not affect each other

Question 10

What is split cover?

Answer 10

Where Life and Life with SIC are separate- so there will be Life even after SIC pay outs are made

Question 10

What is DFCC?

Answer 10

Dementia and FrailCare Cover

Question 11

What must you opt-in to in order to get DFCC?

Answer 11

Total Permanent Disability

Question 11

Is DFCC a standalone product?

Answer 11

No, it is an additional benefit to SIC

Question 12

What are the conversion rules for SIC to DFCC?

Answer 12

Level or indexed = 50% of whatever is remaining

DTA- 25% of original amount, minus any claims

SIC 2x or 3x will be capped at 1x