Critical illness insurance is the payment of a lump sum in the event of the person insured suffering a condition, such as cancer or heart attack, covered under the policy.
In the individual market, the aim is to provide a lump sum payment at a time when
finances may be strained. The benefits may be used to meet expenses which are not
covered under personal or state disability cover, such as experimental or special medical treatment, home modifications, or bridging finance for a business.
In the business market, the policy is often used in relation to buy-sell agreements in partnerships, to enable the remaining partners to buy out a partner suffering from a critical illness.
Wednesday, January 19, 2011
Motor Insurance
Motor insurance
If you drive your vehicle on the road, or leave it parked in the street, the law
says that you must have motor insurance. It is a criminal offence not to insure
your motor vehicle.
Choosing motor insurance
Before you buy motor insurance, decide who will be driving your car, and how
much cover you would like. There are three main types of motor insurance:
>> Third party insurance
>> Third party, fire and theft insurance
>> Comprehensive insurance
If you drive your vehicle on the road, or leave it parked in the street, the law
says that you must have motor insurance. It is a criminal offence not to insure
your motor vehicle.
Choosing motor insurance
Before you buy motor insurance, decide who will be driving your car, and how
much cover you would like. There are three main types of motor insurance:
>> Third party insurance
>> Third party, fire and theft insurance
>> Comprehensive insurance
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