by Jenha White
This comes after a resolution was passed at its annual meeting last November allowing the group to offer a broader range of insurance products.
The Critical Illness Plan will be offered to members as an affordable add-on to their existing policy, providing for a one-off lump sum payment if members are diagnosed with a qualifying critical illness, such as cancer or a stroke.
Southern Cross chief executive Peter Tynan says the Critical Illness Plan is not designed as a substitute for health insurance, instead it is designed to meet the wider health and wellbeing needs of members should they experience a critical illness.
"At that time, it is paramount patients look after their wellbeing in order to recuperate properly without unnecessary financial stress," he says.
Policyholders can choose their level of cover, either: $20,000, $50,000 or $100,000, and this amount is then the payout in the event a member suffers a qualifying critical illness.
Tynan says premium rates are competitive and based on the level of cover, age, gender, smoking status, Body Mass Index (BMI) and health history.
Jenha is a TPL staff reporter. jenha@tarawera.co.nz
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