VitalityLife Serious Illness Tool

Illustrating the value of our Serious Illness Cover (SIC) multiple claims structure

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Our Serious Illness Cover (SIC) is designed to allow for multiple claims and severity-based payments. SIC 2X and SIC 3X allow your client to claim multiple times up to 2x and 3x the SIC sum assured.

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£

Cover At the start of the plan

£400,000
£320,000
£240,000
£160,000
£80,000
£400,000
£100,000
£200,000
Life Sum Assured
Serious Illness Cover
Maximum Serious Illness payouts possible
  • Life cover has been set at £400,000.00
  • The serious illness cover sum assured is set as £100,000.00
  • As the plan type is SIC 2X, the total payable for serious illness claims is 2 times the Serious Illness Cover sum assured. In this case, 2 x £100,000.00 = £200,000.00
  • You have selected life and serious illness cover (additional), the life cover will be fixed at the amount shown, regardless of any SIC claims

What happens if there is a claim?

£400,000
£320,000
£240,000
£160,000
£80,000
£400,000
£100,000
£100,000
£100,000
Life Sum Assured
SIC Sum Assured
Amount paid in claims
Remaining fund for serious illness claims
  • Member has a severity A claim
  • A claim of 100% of the original serious illness cover £100,000.00 is paid out. This amounts to £100,000.00
  • The life cover remains at £400,000.00
  • The total available for future serious illness claims will be the original maximum payout (£200,000.00) minus the serious illness claim paid (£100,000.00) = £100,000.00

What about a subsequent claim (not related to the previous claim)?

£400,000
£320,000
£240,000
£160,000
£80,000
£400,000
£100,000
£200,000
£0
Life Sum Assured
SIC Sum Assured
Amount paid in claims
Remaining fund for serious illness claims
  • Member has a severity A claim
  • A claim of 100% of the original serious illness cover £100,000.00 is paid out. This amounts to £100,000.00
  • The Life Cover remains at £400,000.00
  • The total available for future serious illness claims will be the original maximum payout (£200,000.00) minus the serious illness claims paid to date (£200,000.00) = £0.00

Our unique Dementia & FrailCare Cover

When your plan expires, 50% of any remaining Serious Illness Cover (up to a cap), can be converted to Dementia & FrailCare Cover (DFCC). If you’re diagnosed with dementia, Alzheimer's, Parkinson’s, stroke or frailty, we’ll pay you a lump sum. The payment you’ll receive is based on the severity of your condition. This means you could get more money if your condition gets worse.

In the example above, your plan at the expiry date can be converted to DFCC cover of £0.00

This document is illustrative, for full terms and conditions please refer to the guide to The VitalityLife Personal Protection Plan

 
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