Impairment

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Covering yourself and your ability to earn an income in the event of an accident resulting in bodily damage could be one of the most important decisions you ever make.

Impairment cover covers your bodily function — for example, loss of function of a limb, or loss of a limb. This refers to all main functions of the body: internal organs, eyes, speech, physical ability, and so on.

Impairment cover is a lump sum amount that pays out a percentage of cover based on the severity of the condition — for example, loss of vision in one eye (25–50%) or loss of vision in both eyes (50–100%). Various insurance companies have different claims criteria, so it's essential to ask the important questions before entering into a policy.