Multi‑Claim Protection Cover is a new plan introduced by Royal London who advised that it is “a severity‑based policy aligned to the progression of modern medicine and health”. So what does this mean?  In short, this means that claims are paid in line with the severity of the impact that the condition or illness may have on your life.  Each claim also has the potential for multiple payout components.

Multi-Claim Protection Cover is different to Specified Illness Cover which covers a specific serious illnesses such as a heart attack or being diagnosed with cancer.   Specified Illness Cover provides a once-off lump sum payment but it for the most part a final payment.

Multi-Claim Protection Cover is also an invaluable option for those with pre-existing conditions who might otherwise be declined cover.  Multi Claim may still be an option where Serious Illness or Income Protection benefit might not.

If you have Multi Claim cover, you may claim for example where:

You are admitted to ICU admission for 48 hours; you are entitled to 10% benefit payment.

You are undergoing chemotherapy; you are entitled to 10% benefit payment.

Specified Neurological disorders for example stroke or Alzheimer’s will result in claims of 30% – 50% and up to 100% payment in the case of Motor Neuron illness.

Subsequent treatments/illnesses will mean another claim can be made.

The good news in today’s improving medical world is that many people are treated successfully, and quickly return to work.  Therefore a full payment is not required but partial payments can be very welcome at a stressful time in one’s life and yet the policy continues should cover be needed again.

The plan also covers children to the age of 18 (or 25 if in full time education) in the event of a diagnosis of a serious illness in the sum of €25,000.  The policy also has a benefit payment of €5,000 if you have a premature baby born before the end of the 32nd week of pregnancy.   All valuable additional policy benefits.

How is Multi-Claim Protection Cover different?

  • Provides financial support in line with the potential impact caused by a medical condition or treatment.
  • Covers a broad range of conditions.
  • Has the potential for multiple claims.
  • Cover continues after a claim, unless or until the full amount of cover has been claimed.
  • Claims are paid for medical conditions such as MS, medical treatments such as chemotherapy as well as for the inability to perform certain day-to-day tasks without help.
  • It’s designed to be easier to understand when your clients may claim. For instance, if your client is referred for chemotherapy, they can make a claim.
  • It is more inclusive than some other types of protection cover as people with a past history of cancer, for example, can get cover.
  • It’s a more affordable option, when compared to traditional Specified Serious Illness.
  • We welcome the  introduction of the Multi Claim Protection Cover to the financial services market as a plan which offers an invaluable benefit at a time when those affected will need it most.  If you have any queries on this please contact us at 053 9233640.