Serious Illness Cover New Ireland
Serious Illness cover from New Ireland, providers cover for 67 specified serious illness, 47 full payment and 20 partial payment. Claims can be made after a 14 day survival period based on medical diagnosis. Free children’s serious illness cover and terminal illness benefit applies as standard.
If you are diagnosed with one of 67 specified serious illnesses during the term of your policy, a lump sum will be paid out. 47 full payment illnesses and 20 partial payment illnesses are covered. Partial paymnet illnesses pay the lower of 15,000 or 50% of the specified benefit sum assured.
Free Children's Cover
The policy 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).
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.
Life Choice Benefits
Life Events – Allows you increase your original cover amount by the lower of 50% of your cover amount, or €100,000, without having to provide evidence of health, within 3 months of: a mortgage increase due to moving house; getting married, or 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).
Monthly Income on Death – Pays a monthly income on death for the remainder of the chosen term. The monthly amount will be paid out for a minimum term of 3 years, should death occur within the last 3 years of your policy term. Income on Death benefit must be selected for a minimum term of 10 years for this to apply.
Terminal Illness Benefit
If you are diagnosed with a terminal illness within 18 months of the end date of your policy, your full life cover sum will be paid out. A terminal illness is defined as one with which you are given less than 12 months to live.
Where chosen, this option allows you to convert your cover to another policy without having to provide new evidence of health. You can use this option at any point over the course of your policy, before reaching age 65.
Where chosen, Inflation Protection ensures that both your cover and your premium increases by 3% each year. This helps to protect the real value of your cover as time passes.