Critical Illness Insurance - Maturity benefit

Hi, just want to ask a quick question:

Does CI insurance, Standalone or Accelerated CI pay out on maturity?
I attempted the 2014 September, Q6ii past paper. Which the solution sheet quotes:
"There will be a small delay in payment of benefit on accelerated CI policies (payment now made on survival rather than earlier death)"

I interpret this that because people survive following a stroke, they claim the first time for diagnosis, and then the remaining SA is claimed as maturity benefit rather than death.

Is there a maturity benefit? I thought CI covers for lifetime.

Thanks,
Trevor

 

Based on my recollection, there is generally no maturity benefit for CI policies. For an accelerated CI, you get payment on death or diagnosis of CI, whichever occurs first. So if you have a stroke and claim for it, that would terminate the policy.

 

One doubt I had in this product. Talking about Standalone product.
So CI insurance is paid to Policyholder once they survive some period after being critically ill.
So company wants to ensure they don't die after Critical disease listed in their policy document.

But at the same time when it comes to meeting the customer needs,Can Lumpsum help cover the cost of treatment of CI which is needed to survive the required period..Or it is for after survival life only.

Because even first diagnosis or treatment could itself b severe and policy holder might need cover to make him survive.
In this case,PMI can only take care on this cost.

Please add to my understanding.