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Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.
Statutory sick pay (SSP) is a United Kingdom social security benefit. It is paid by an employer to all employees who are off work because of sickness for longer than 3 consecutive workdays (or 3 non-consecutive workdays falling within an 8-week period) but less than 28 weeks and who normally pay National Insurance contributions (NICs), often referred to as earning above the Lower Earnings ...
Fathers and mothers who are insured in the statutory health insurance and are raising a child younger than 12 years also have the right to paid leave if the child is sick (Kinderkrankengeld). The insurance pays for a maximum of 10 days per parent and per child (20 days for a single parent), limited to 25 days per year per parent (50 for a ...
As in private insurance plans, everyone in the particular insurance pool is insured against the same risks, but not everyone will benefit to the same extent. The analogy to insurance, however, is limited [191] by the fact that paying FICA taxes creates no legal right to benefits [192] and by the extent to which Social Security is funded by FICA ...
A benefit period is a length of time during which a benefit is paid. This may be a government benefit such as the British Housing Benefit, [1] or a healthcare benefit system such as the American Medicare, or payment from an insurance policy such as a Payment protection insurance [2] which covers mortgage or other commitments after accident, illness or redundancy.
Most insurance policies include a suicide clause that states the policy will not pay out the death benefit if the policyholder commits suicide within a certain period of time after the policy is ...
Although many of the best car insurance companies have different coverage packages to choose from, you may find it easier to understand your policy if you break it down into two types of coverage ...
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. [ 1 ] [ 2 ] These are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits.