Life & Specified Serious Illness Cover – New Ireland

New Ireland Income Protection

Life Insurance & Serious Illness cover from New Ireland will pay-out a tax-free lump sum on death, but also covers 91 specified Illnesses with a tax-free pay-out on diagnosis at any time during your policy term. The policy includes a host of automatic added benefits as well as the optional features and benefits described below.

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 91 specified serious illnesses during the term of your policy, a tax-free lump sum will be paid out. 55 full payment illnesses and 35 partial payment illnesses are covered.

Automatic Added Benefits

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).

Free Children's Cover

An amount of €4,000 is payable on the death of a child during the term of your policy. 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.

If you have added Serious Illness Cover to your policy, it also 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 between 6 months and 18 years of age (or up to age 21 if they are in full-time education).

Life Events - Cover Increase Benefit

Life Events – Increase the lump sum amount by the lower of 50% or €100,000, without having to provide evidence of health, within 3 months of a mortgage increase due to moving house; getting married; 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).

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 year’s policy anniversary, Zurich Life will automatically increase your life cover by 3% and the premium by 3%.

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, New Ireland 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 coverage 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, New Ireland 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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