Citibank Critical Illness Insurance

Benefits of Citibank Critical Illness Insurance

No one likes to be ill, even though it can often mean a few days off work and time spent in bed or on the couch watching television. However, when you are seriously ill, and that illness extends its hold on you, your lifestyle and your commitments begin to suffer.

This is when Citibank Critical Illness Insurance can help you take care of your financial commitments, and give you the funds you need to manage the rest of your commitments, while you concentrate on your recovery.

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Features of Citibank CoverPlus Critical Illness Insurance

CoverPlus Critical Illness insurance is a fast and easy way to make sure you are covered in case of a serious illness, and just one of the options Citibank offers to help you protect your family against unforeseen circumstances. Cover Plus Critical Illness insurance from Citibank features:

  • Easy online application: You can obtain a quote for critical illness insurance from the Citibank website and continue to a quick and easy online application. To apply you must be 18 to 59 years old, an Australian or New Zealand citizen or a holder of an Australian permanent residency visa, and be currently living in Australia.
  • Up to $750,000 benefit amount: You are eligible for cover of up to $750,000 in case of critical illness, and it may vary depending on your age:
    • If you are 18 to 44 years old you can apply for $25,000 to $750,000 of cover.
    • If you are 45 to 54 years old you can apply for $25,000 to $375,000 of cover.
    • If you are 55 to 59 years old you can apply for $25,000 to $125,000 of cover.
  • Citibank discounts: You are eligible for a discount on your Cover Plus Critical Illness insurance if you cover yourself and your partner under the same policy. You can also receive a discount on your cover if you pay your premiums annually.
  • Worldwide cover: Once covered by Citibank Cover Plus Critical Illness insurance, you are protected 24 hours a day, seven days a week, anywhere in the world.
  • Lump sum benefit payment: If you suffer one of the defined illnesses in your Citibank policy, you are eligible for a lump sum benefit payout. These conditions include:
    • Cancer
    • Chronic kidney failure
    • Coronary artery bypass surgery
    • Heart attack
    • Multiple sclerosis
    • Paralysis
    • Severe burns
    • Stroke

Features of Citibank Critical Illness - Recovery Assist Cover

Another way that Citibank can protect you and help you look after yourself and your family if you suffer a critical illness is with Recovery Assist cover. Recovery Assist offers two cover options:

  • Cancer Assist
  • Cancer Assist Plus

These types of cover offer a benefit from $25,000 to $100,000 to help provide for your family if you are diagnosed with cancer, or one of 22 other serious medical conditions such as heart attack, Alzheimer’s disease, multiple sclerosis and third degree burns.

Benefits of Citibank Recovery Assist Insurance includes:

  • Policy discounts: If you choose a benefit amount of $100,000 you will be eligible for a discount on your insurance.
  • Triple benefit: If you suffer from a high level cancer, Citibank can pay you two or three times your benefit amount up to $300,000.
  • Lump sum benefit: Your benefit for a successful claim is paid at the time of diagnosis, so you can use the money in any way you need to. This means you can spend your benefit on medical treatments, household bills, ongoing living expenses, or restorative treatments or holidays.
  • Easy application: To apply for Recovery Assist you can complete an application form online or over the phone in just a few minutes, and you don’t have to take a medical or blood test. You must be 18 to 55 years old, and a permanent Australian resident to apply.
  • Inflation proof benefit: Citibank will increase your benefit amount each year to keep in line with inflation, so that no matter when you make a claim, the benefit is relevant to the costs at the time of the claim, not at the time of your application.
  • Worldwide cover: You remain covered under the Citibank Recovery Assist insurance wherever you are in the world, at any time.
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