Do you have a specific injury benefit under your income protection policy, and are you sure you’re not missing out? Many people may not realize what’s covered under their specific injury benefit, and as a result, they could be missing out on valuable payouts.
Specific injury benefit is a type of benefit within the Income Protection policy that provides coverage for particular injuries, such as certain fractures, loss of limbs, sight etc., regardless of whether the life insured needs ongoing medical treatment or is working. These benefits are payable without the usual waiting period, and the payment period’s duration varies based on the type of specified injury and policy terms.
Take my own example – three months ago, I ruptured my Achilles tendon. While this injury wasn’t covered under specific injury benefits, I was relieved that a leg fracture between the knee and foot was. And because my Achilles rupture was accompanied by an avulsion fracture – where a portion of the heel bone broke off along with the tendon – it became a covered event for me. The insurer duly paid the two months’ benefits as a result.
Understanding the specific injury benefits in your policy is essential because you never know when you might be entitled. If you’re unsure what’s covered or have questions about your policy, talk to your financial adviser or a claims advocate. At Claims Advocacy, we help people understand their policies and get the benefits they are entitled to. Don’t miss out on any covered events – contact us today.
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