How Progressive Care and Critical Conditions work together to offer increased financial support
Tom has $200,000 of trauma insurance made up of $100,000 Progressive Care and $100,000 Critical Conditions. Tom added the Optional Critical Conditions Buyback benefit to his policy at application.
Tom’s claim journey
First claim Tom suffers a severity level 3 heart attack. He receives a 50% claim payment under his Progressive Care and full claim payment from his Critical Conditions.
PROGRESSIVE CARE
CRITICAL CONDITIONS with Optional Critical Conditions Buyback
HEART AND ARTERIES
BRAIN AND NERVES
LOSS OF FUNCTION
OTHER HEALTH EVENTS
CANCER
$50,000
$100,000 lump sum payment
$100,000
$100,000
$100,000
$100,000
Tom’s Critical Conditions is then reinstated. It now has an exclusion for heart attacks.
i.e. $100,000 less a claim payment of $50,000 ($100,000 x 50%)
His total claim is $150,000
Unrelated claim Unfortunately, 5 years later Tom suffers from cancer at severity level 1. He receives a 100% claim payment from Progressive Care and full claim payment from Critical Conditions. His total claim is $200,000.
PROGRESSIVE CARE
CRITICAL CONDITIONS with Optional Critical Conditions Buyback
HEART AND ARTERIES
BRAIN AND NERVES
LOSS OF FUNCTION
OTHER HEALTH EVENTS
CANCER
$0
$50,000
$100,000 lump sum payment
$100,000
$100,000
$100,000
His total claim is $200,000
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