Mortgage Protection

Serious Illness Cover - Irish Life

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Serious Illness Cover from Irish Life is a benefit which pays you a lump sum if you are diagnosed with one of 89 specified serious illnesses during the term of your policy, a lump sum will be paid out. 48 full payment illnesses and 41 partial payment illnesses are covered. The partial payment is €15,000 or half of your specified illness benefit amount, whichever is lower. However, for coronary angioplasty, the partial payment is €40,000, or 75% of your specified illness cover amount – whichever is lower.

Mortgage Protection

Complimentary Additional Benefits

Your children between the ages of 30 days old and 25 are covered for up to €25,000, or half of your specified illness benefit amount, whichever is lower, for as long as you are covered.

If you have stand-alone specified illness cover (which means you have no life cover on this plan) and you are diagnosed as having a terminal illness, Irish will pay €15,000 of your specified illness cover straight away, or half your specified illness benefit amount, whichever is lower.

Optional Added Features

Where chosen, this option allows you to convert your cover to another policy without having to provide new evidence of health. You can use this option at any point over the course of your policy. The maximum age to extend cover is to age 85. If you select the conversion option, you can select any term for your cover from 2 to 50 years for life cover

Where chosen, Inflation Protection ensures that your cover increases by 3% and your premium increases by 4.5% each year. This helps to protect the real value of your cover as time passes.

Optional Added Feature

By choosing to include a Conversion Option you obtain the option to convert your life cover into another policy, without having to provide fresh evidence of health. This option can then be used at any time during the policy term up to your 70th birthday (or before the 70th birthday of the older life for Dual Life policies).

The main purpose of including this option is to protect you against a change in your future financial circumstances, where you may need to extend your mortgage term to lower your mortgage repayments or move to interest only. But it also allows you to alter your policy, where you may wish to re-mortgage due to home renovations.

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