Life & Serious Illness – Zurich Life
Life Insurance & Serious Illness cover from Zurich Life, will pay-out a tax-free lump sum on death, but also covers 70 specified Illnesses with pay-out on diagnosis at any time during your policy term. The policy also includes a host of featured benefits, which includes Long Term Care Conversion, which is totally unique to Zurich Life, all of which is described below. The first month is free and you can apply over the phone, or online as best suits you.
Should a death claim occur during the cover term a tax-free payment will be made. Joint life claims pay-out on the first claimant only, whereas dual cover means both parties can claim separately.
Specified Serious Illnesses
If you are diagnosed with one of 70 specified serious illnesses during the term of your policy, a tax-free lump sum will be paid out. 47 full payment illnesses and 23 partial payment illnesses are covered.
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.
This is an automatic additional benefit. This allows you to increase your Life, Serious Illness and Permanent Total Disablement (Own Occupation) benefits by the lesser of 50% of the original benefit at the start date of the policy and €100,000 without underwriting in the event that you gain approval for a new mortgage or increase in an existing mortgage and subsequently draw down these funds. 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.
This is an automatic additional benefit. You have 90 days to reinstate your policy after your first missed premium payment. Furthermore, it can be reinstated even if a claim has arisen. However, it cannot be reinstated if Zurich Life has received a written request from you to cancel the policy.
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).
Long Term Care Conversion
Designed to convert up to 150,000 of your life cover into monthly payments towards long term care, in the event that life assured has suffered long term care disablement. A maximum of 50 payments can be made, but you can only make a claim for this benefit between the ages of 60 and 65, on the proviso that there is 10 years remaining on your policy at the time.
Funeral Expense Payment
Where Zurich Life has confirmed in writing that a claim under this section is valid and that benefit will be paid subject to the production of Grant of Probate, or Grant of Letters of Administration, Zurich Life will, upon written request issue payment in respect of the funeral expenses of the deceased directly to the funeral director on production of the funeral director’s invoice to a maximum of €7,500.
Parental Respite Cover
Parental Respite Cover can help provide parents with important financial breathing space should the worst happen and your child suffer a serious illness, or a bereavement occur. Child cover applies from birth to age 18 or up to age 24 if in full-time education. A maximum payment of €7,500 applies to life cover and a €25,000 maximum to serious illness cover claims.
Optional Added Benefits
Waiver of Premium Benefit
Waiver of Premium – This is an optional additional 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. To add this benefit to your quote please call us on: 01 845 0049.
Where you choose to include a Conversion Option as part of your protection policy, you can later choose to extend your cover, without having to provide fresh medical information at the time.
Where you choose to include Inflation Protection, as a feature of your life insurance policy, on every years policy anniversary, Zurich Life will automatically increase your life cover by 3% and the premium by 4.5%.