Serious Illness Cover – New Ireland
Serious Illness cover from New Ireland, providers cover for 91 specified serious illnesses, 55 full payment and 36 partial payment. Free children’s serious illness cover and terminal illness benefit applies as standard, as does life events benefit, which allows cover increases free of fresh underwriting. Accelerated life cover can also be added to this policy at very little extra cost. For more information please see below.
Automatic Features & Benefits
The policy pays 50% of the specified Illness lump sum to a maximum of €25,000 if one of the life insured’s children are diagnosed with a specified illness. This applies to all the natural and/or legally adopted children of a Life Insured who are aged between 6 months and 18 years at the date the benefit is payable and also to those who are aged between 18 and 21 years who are in full-time education.
Life Events – Allows you increase your original cover amount by the lower of 50% of your cover amount, or €100,000, without having to provide evidence of health, within 3 months of a mortgage increase due to moving house; getting married, or having or adopting a child. The max increase over the term of the policy is the lower of 100% of the lump sum amount, or €200,000 (expires age 55).
Terminal Illness Benefit
If you are diagnosed with a terminal illness within 18 months of the end date of your policy, your full life cover sum will be paid out. A terminal illness is defined as one with which you are given less than 12 months to live.
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, before reaching age 65.
Where chosen, Inflation Protection ensures that both your cover and your premium increases by 3% each year. This helps to protect the real value of your cover as time passes.