Irish Life – Mortgage Protection Insurance
Irish Life mortgage protection insurance offers free added features including accidental death benefit, guaranteed insurability and terminal illness benefit. Free children’s cover also applies, including free children’s serious illness cover, where you choose to add serious illness as a main benefit. All featured and optional benefits are outlined below.
Optional Added Feature
Guaranteed cover again, also known as a conversion option allows you to convert your cover to another Mortgage Life Insurance plan (or equivalent) without having to provide any fresh evidence of health and at any stage throughout the term of your plan. If you wish to avail of this option, you must take it at the start of your plan.
The 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.
Automatic Added 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 Irish Life is processing your fully completed application form. To qualify you must be you must be under age 55 and your policy accepted at standard rates within 30 days.
This benefit is available on both life and specified illness cover plans. If you start life cover and before the age of 55 you then get married, or become a registered civil partner, have a child, take out a new, or extra mortgage, or get an increase in salary, you can ask Irish Life to set up a new life cover plan, without providing fresh medical information.
The maximum increase in your cover is €125,000; half of your current benefit; or half of your original benefit; whichever is lower.
If you take out life cover, each of your children under aged between 30 days and 21 are insured for €6,000 life cover for as long as you are covered and if you have included serious illness cover on you, your children between the ages of 30 days old and 21 years old 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 are diagnosed with a terminal illness, your life cover will be paid out, so long as there are 12 months or more until the policy is due to end. A terminal illness is an illness that, according to the attending Consultant, has no known cure, has progressed to a point at which it is deemed incurable or is expected to lead to death within 12 months.
Life Care Benefits
NURSECARE – SOMEONE TO HELP WHEN YOU’RE NOT SURE WHAT TO DO
• There are nurses available to talk to you 24 hours a day all year round. They can help you decide
the best thing to do, whether that’s advice on medication or if you should visit your doctor.
MEDCARE – A SECOND OPINION FOR PEACE OF MIND
• MedCare can help give you peace of mind if you are diagnosed with one of the conditions
covered by MediGuide. This means you can have an independent review of your diagnosis and
treatment plan from one of a range of leading medical centres around the world.
• This service is also available to your immediate family including your parents and your spouse’s /
CLAIMSCARE – SUPPORT IF YOU NEED TO CLAIM
If you need to make a claim you will have a dedicated member of the claims team to help you
through the process. We also offer counseling services from the Clanwilliam Institute to help
support you through bereavement or illness.
Optional Added Benefit
Serious Illness Cover
If you are diagnosed with one of 65 specified serious illnesses during the term of your policy, a lump sum will be paid out. 44 full payment illnesses and 21 partial payment illnesses are covered.