Cassidy Care - A combined Term Life and Critical Illness Plan
The Cassidy Care Plan was designed following extensive research among Independent Financial Advisers and intermediaries to provide insurance in a highly practical and flexible way to suit the particular circumstances of clients, whether individual or business. The plan combines their expertise in Term Life and Critical Illness insurance in two versions.
Cassidy Care Personal Cover for Individuals
The Personal Cover plan provides a lump sum payment on death or on diagnosis of a critical illness. Cover is available to individuals aged 18 to 64, and protection can be arranged for any period between 6 months and 10 years.
Cassidy Care Business Cover to enable Companies to insure key Employees
The death or absence of a key employee through a critical illness can lead to many operational difficulties and the financial impact can be immediate. The Business Cover plan pays a lump sum to the company thereby providing assistance with financial expenses incurred and to provide financial protection against loss. The plan is highly practical and flexible to suit the circumstances of your particular business.
Key Benefits
A Wide range of critical illnesses are covered:
- Heart Attack
- Major Organ Transplant
- Coronary Artery Bypass Surgery
- Multiple Sclerosis
- Cancer
- Blindness
- Stroke
- Paralysis
- Kidney Failure
A full set of definitions, policy terms and conditions is available on request.
Accelerated benefit
The level of critical illness benefit can be chosen according to particular circumstances and needs. The nominated level can be 50%, 75% or 100% of the sum assured on each life, and is paid on diagnosis of the illness. The balance of the sum remains insured for the remaining period of the plan (please note that premiums must continue to be paid for life assurance protection to continue).
An example of Accelerated Benefit
- Sum assured: £150,000
- Nominated level of accelerated benefit for critical illness: 50%
- Upon diagnosis of critical illness lump sum payment: £75,000
- Balance payable on death during the policy term: £75,000
If death occurs during the policy term and there has been no acceleration, then the full sum assured will be paid.
Disability Cover
Permanent Total Disablement under the Business Cover Plan:
If an insured employee is totally unable to perform his or her usual occupation for at least six months and is beyond hope of improvement, then this benefit provides the same nominated accelerated benefit as outlined above for critical illness. Employees who have reached the age of 60 qualify for the 'Loss of Independent Existence'.
Loss of Independent Existence under the Personal Cover Plan:
If an insured with Personal Cover is unable to perform 4 out of 6 specified daily functions such as dressing or walking, then the policyholder will receive the nominated accelerated benefit as outlined above for critical illness.
Terminal Illness
Cassidy Care also offers Terminal Illness benefit for plans of 3 years and over. Applying to both the business and personal plans, the full benefit is paid on diagnosis of a terminal illness (on condition that there is a minimum of 12 months remaining).
Counselling Helpline
We recognise that coping with a critical illness or death can cause great distress for the whole family. As part of our commitment to provide help and assistance in such circumstances, our policyholders have access to the Cassidy Care Helpline, which is available 24 hours a day, every day of the year.
The facility is confidential and staffed by lawyers and professional counsellors who are able to provide practical support and advice.
Free protection for Children
A valuable free benefit under both the business and personal plans provides for a lump sum payment in the event that a child (aged between 3 months and 18 years) of an insured life suffers one of the specified critical illnesses.
Up to 50% of the Critical Illness benefit will be paid to a maximum of £10,000 under the Business Cover Plan, or under the Personal Cover Plan to a maximum of £5,000.
(Please note that children are not covered for Terminal Illness, Loss of Independent Existence or Permanent Total Disability)
Guaranteed Rate
With very few exceptions, Cassidy Care offers a guaranteed premium rate throughout the whole term of the plan (from 6 months up to 10 years), removing uncertainty over future costs.
Choice of how to Pay
Premiums can be paid on a one-off, annual or monthly basis. Monthly contributions are paid by direct debit.
The Main Policy Conditions
- Thirty days of grace are allowed for payment of premiums
- If the age of the Life Assured is understated or overstated at the outset, the benefit will, at the time of a claim, be adjusted to reflect the correct age
- The policy has no surrender value
- The policy is subject to English law
- Any change of occupation of the Life Assured must be notified to Cassidy Davis. This may alter the premium payable
- Any fraud, misstatement or concealment by the Life Assured renders the contract null and void.
What is not Covered?
The protection provided by the policy does not include critical illness or disablement which arises as a result of:
- Self-inflicted injury or attempted suicide
- Misuse of drugs or alcohol
- War, riot, civil commotion and military service
- Aviation other than as a fare paying passenger
- Participation in criminal acts
- Hazardous pursuits
- Failure to seek or follow medical advice
- HIV/AIDS
- Mental or nervous disorders without demonstrable organic brain disease
- Cover is only available in specified geographic regions.
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