Mortgage Protection – Life & Serious Illness – Zurich Life

Zurich Life Life & Serious Illness

Mortgage Protection – 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 during your policy term. Standard features include, accidental death benefit even before your cover goes live and your policy also automatically provides parental respite cover, guaranteed insurability, terminal illness benefit and missed payment reinstatement. The first month is free and you can apply over the phone, or online as best suits you.

Featured Benefits

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.

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 25 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.

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).

Waiver of Premium 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.

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