Accelerated Critical Illness Definition


Insurance that pays out a lump sum benefit on either the death or diagnosis of a serious (life-threatening ) illness in the life assured within the term of the policy , and nothing on healthy survival to the end of the term.


Origin of Accelerated Critical Illness

  • On the assumption that any illness covered by the critical illness portion of the insurance is potentially terminal, this is equivalent to a term assurance contract whose benefit payment is brought forward (accelerated) to the point of diagnosis of terminal illness, rather than waiting for actual death.

    From Wiktionary

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