Four Pillars of Dread Disease Cover

Four Pillars of Dread Disease Cover

    There is a way to address this complex product in a simple way.   The dread disease product in four key can be summarized : 1 . The event claims 2 . The definition 3 . The design 4.  Sickness Incidence     Pillar 1 : The event claims   It refers broadly to the medical conditions covered by the product , such as heart attacks and cancer . Some products cover a long list of conditions that looked impressive while others have a shorter list, which makes the product appear less comprehensive.  But it can be tricky and therefore we have to look at the other three pillars to see a more complete picture.   Pillar 2 : The definition   It becomes more complex to understand, because dread disease products does not cover every stage or grade of each disease condition.  To keep the product more affordable  a description is given of each claim event to describe the requirements to enable payments of the claim. Some definitions may be so severe that a claim will only be paid at a very late stage of the disease. Make sure to read and understand the fine print of your cover.   Pillar 3 : Design   In order to analyse the product properly one should pay close attention to the product’s design. How is the payment of claims structured ?   A simple example is as follows :  one product may only cover 50 % of a heart attack claim , where a another policy has 100 % coverage for the claim .  in the event of...