Sunday, August 11, 2013

Breast Cancer Claims settlement

A critical illness plan settled for breast cancer.

This is a claim payout for a critical illness plan, one who started with a smaller Living Policy when young and reviewed later in life to increase the Living Policy critical illness coverage.
She subsequently did a 15 years savings plan, Revosave with Special Waiver.
When diagnosed with breast cancer, both Living Policy paid for the claim and the premium for the saving plan was waived for the next 12 years because it is into the 3rd year of the plan. All future premiums waived and the savings continue.
Total payout $119,852.14 and when the savings plan matures, there is another $112,000 to collect.
A proper rider is important when planning for savings plan as well, that one will not be burdened with paying of premiums in event of a critical illness.
Such riders can be added to Term Plan, Mortgage Protection Plan, and other term plans.

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