Get more info on:
Blue Cross of Jamaica Limited is pleased to introduce the Group Critical Blue to our clients and prospective clients.
CRITICAL BLUE is a critical illness policy that pays a lump sum (the sum insured) to the policy owner or beneficiary/ies on the first diagnosis of a critical illness.
The lump sum benefit payable is one million five hundred thousand dollars ($1,500,000).
In the event of the diagnosis of a covered condition within ninety (90) days
of the policy effective date, or death within thirty (30) days after diagnosis,
the benefit payable is limited to a refund of premiums paid to date.
DEFINITIONS:
CANCER
Cancer is the presence of an uncontrolled growth and the spread of malignant
cells. Incontrovertible evidence of the invasion of tissue or definite histology
of a malignant growth must be produced. The term "Cancer" also includes
leukaemia, lymphomas and Hodgkin's disease.
HEART ATTACK
Being the death of a portion of the heart muscle as a result of inadequate
blood supply to the relevant area, the diagnosis being evidenced by typical
chest pain, new electrocardiac changes and elevated levels of cardiac enzymes.
KIDNEY FAILURE
Being end stage renal failure presented as chronic irreversible failure of
both kidneys to function, as a result of which regular renal dialysis is initiated,
or renal transplant is carried out.
STROKE
Being a cerebrovascular incident resulting in permanent neurological damage.
PREMIUM PAYMENT
Premiums are payable monthly, semi-annually, or annually and are due on the
first day of the first month of each payment period. Other payment modes would
have to be negotiated directly with Blue Cross of Jamaica Limited. The term of the
premium payment is the earlier of the attainment of age 70 or when twenty
(20) annual payments are made.
The premium rates quoted are guaranteed for one (1) year only and will be subject to review at each renewal date. The plan is available for issue ages 18 to 65.
CLAIMS
Notice of claims must be submitted to the Company within six months after
diagnosis and must be accompanied by medical certification, detailing cause
and nature of illness including any pertinent reports, from a physician practicing
legally in Jamaica or other approved jurisdictions. The Company reserves the
right to confirm diagnosis by a company appointed doctor. A claim for a benefit
under this policy shall not be payable where there was a pre-existing medical
condition.
A death benefit is payable and is equal to the sum of all premiums paid to the date of death.
TERMINATION
This policy will terminate on the earliest of the following:
1. For non-payment of premiums as stated above, or
2. The date of the policy Anniversary immediately following the Insured's
seventieth birthday.
3. When a claim is paid according to the terms of the contract.
4. Upon receipt of a written request from the policy owner for cancellation.
Q: Does this policy carry any cash surrender values?
A: This policy pays for certain diagnosed illnesses only and does not
accumulate any surrender values.
Q: What happens if I die while the policy is in force?
A: In the event of death with no prior diagnosis of a Covered Condition
or within thirty -days (30) of the diagnosis of a Covered Condition, the premiums
paid under the Policy will be refunded. The Policy will be terminated with
effect from the date of death and no further benefits shall be payable under
the Policy.
Q: Can I buy two policies and secure $3,000,000 of coverage?
A: Each person can only be covered for $1,500,000 under one policy
contract.
Q: If I am diagnosed for two of the covered conditions, will I received
$1,500,000 for each condition?
A: The maximum benefit payable under the policy is $1,500,000 regardless
of the number of diagnosed conditions.
Q: If I loose my job and cannot pay my premiums, what will happen
to my policy?
A: A grace period of thirty-one (31) days without interest charge will
be allowed for the payment of the premium due under the Policy. If any premium
is not paid before the expiration of the grace period the policy shall terminate
for non-payment of premium and it may be reinstated within six (6) months
after the effective date of the lapse based on certain requirements.
Q: Can I buy this policy for my parents?
A: The issue ages for critical blue are 18 to 65. There are certain
rules relating to insurable interest hence you may only have a premium-paying
obligation under the policy without any ownership rights.
Q: Will the company require a second opinion on the diagnosis of a
covered condition?
A: The Company reserves the right to have a second opinion by its own
Medical Consultant on any of the covered conditions.
Q: Can I name anyone as beneficiary on the policy?
A: You can name someone on the policy as beneficiary in accordance
with the insurance legislation having to do with such designation. Where there
is no beneficiary, the proceeds if any will be paid to the policyholder's
personal representative.
Q: How long after the covered condition arises that the company will
accept a claim?
A: The Company requires notification of the claim along with the relevant
documentation within six (6) months. However where it was not reasonably possible
to provide the necessary proof, the company will allow a maximum time of one
(1) year of the onset of the covered condition for such proof to be furnished.
