Life & Specified Serious Illness Cover – Zurich Life

Zurich Life Life & Serious Illness

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 a tax-free pay-out on diagnosis at any time during your policy term. The policy includes a host of complimentary benefits, including Long Term Care Conversion, unique to Zurich Life, all of which are described below. The first month is free and you can apply over the phone, or online as best suits you.

Optional Policy Features

Conversion Option

Where you choose to include a Conversion Option as part of your life insurance policy, you can later choose to extend your life cover, without having to provide fresh medical information at the time. The maximum extended term is to age 85.

Inflation Protection

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%.

Core Policy Benefits

Life Insurance

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.

Complimentary Added Policy 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.

Guaranteed Insurability

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.

Reinstatement Clause

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 (Children's 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 25 if in full-time education. A maximum payment of €7,000 applies to life cover and a €25,000 maximum to serious illness cover claims.

Optional Added Benefits – Call 01 845 0049 to add to your quote

Waiver of Premium Benefit

Waiver of Premium – 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.

Hospital Cash - Daily Benefit

On proof that a life insured in respect of whom Hospital Cash benefit applies has been confined to a hospital in Ireland or the United Kingdom as an in-patient as a result of illness or bodily injury for a continuous period exceeding 72 hours, Zurich Life will pay the Hospital Cash benefit for that life insured.

The Hospital Cash benefit is your chosen  Hospital Cash cover level (up to a max of 300 per day) multiplied by the number of days (complete periods of 24 hours) the life insured is hospitalised. The maximum number of days for which benefit shall be payable for a life insured is 365. Hospital Cash benefit ceases on the 65th birthday of a life insured.

Personal Accident - Weekly Benefit

Personal accident insurance is cover that protects you in the event that you suffer a serious injury, as a result of an accident, which prevents you from working.

On proof that a life insured in respect of whom Personal Accident benefit applies has become temporarily disabled as a result of an accident that occurs in Ireland or the United Kingdom, Zurich Life will pay the Personal Accident benefit applicable to that life insured (up to a max of 400 per week).

For the purposes of this benefit, temporarily disabled means completely unable to follow the occupation the life insured was following prior to disablement, directly as a result of an accident caused by external, violent and visible means. Disability which occurs within six months of the Start Date cannot be considered, unless such disability is caused by a broken bone and results in a total inability of the Life Insured to carry out his occupation.

The benefit will not be paid if the life insured is in any other gainful occupation. The amount of the Personal Accident benefit is equal to the lesser of  your Personal Accident benefit cover level (subject to a max of 400 per week) and 50% of the life insured’s weekly earnings for each week of temporary disablement to a maximum of 52 weeks. Personal Accident benefit ceases on the earlier of the death, recovery and 60th birthday of a life insured.

Personal Accident benefit will not be paid for the first 14 days of temporary disability. Personal Accident benefit is payable in arrears. It is only payable up to the date a medical practitioner signs the claim form.

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