Mortgage Protection – Life Insurance – Zurich Life

Zurich Life Mortgage Protection

Mortgage Protection from Zurich Life will pay out a lump sum death benefit during the term of the policy to pay off your mortgage loan. The premium will remain fixed for the full policy term and Zurich will also uniquely pay your premium, if you’re out of work due to illness for more than 13 weeks. All the additional featured policy benefits detailed below are provided at no extra cost you can also avail of a free cover period at the start of your policy.

Complimentary Additional Benefits

Advance Cover - Accidental Death Benefit

Your insured life cover amount, up to a maximum of €150,000 is payable if a life proposed dies from bodily injury as a result of an accident while Zurich Life is processing your fully completed application form, and within the first 30 days from application receipt.

Waiver of Premium Benefit

If you are unable to work due to illness or disability, Zurich Life will pay your premiums after a period of 13 weeks has passed. Payments stop on earliest of recovery, end of policy term, 60th birthday or death.

Terminal Illness Benefit

If you are diagnosed with a terminal illness your full life cover sum will be paid out. (This benefit ends twelve months before the end of the term you have chosen).

Guaranteed Insurability

This allows you to increase your Life Cover by the lesser of 50% of the original benefit at the start date of the policy and €100,000, without underwriting following any of the special events listed below:

  • marriage or registered civil partnership;
  • birth or adoption of a child;
  • promotion or change in job which has resulted in an increase in salary; and
  • new mortgage or increase in an existing mortgage

The total maximum increase across all options over the life of the policy, is the lesser of €200,000 and the original sum insured at the policy start date.

Reinstatement Clause

You have 90 days to reinstate your policy after your first missed premium payment.