Specified Serious Illness Cover – Zurich Life

Zurich Serious Illness Cover

Serious Illness cover from Zurich Life covers 70 separate specified Illness and offers comprehensive and flexible cover. Standard featured benefits include parental respite (free children’s cover) and Guaranteed Insurability which allows for future cover increases free of fresh underwriting and you also get your first month free! Optional benefits include hospital cash and personal accident benefit, please contact us should you wish to include these with your quote.

Standard Featured Benefits

70 Serious Illnesses

If you are diagnosed with one of 70 specified serious illnesses during the term of your policy, a lump sum will be paid out. 47 full payment illnesses and 23 partial payment illnesses are covered, including the 3 major full payment conditions of: cancer, heart attack and stroke.

Parental Respite Cover - (Free Children's Cover)

Children’s are covered for the same specified illnesses as the policy holder subject to a maximum of €25,000 for full payment illness and €7,500 for partial. This child cover applies from birth to 18 or 25 if in full time education.

Guaranteed Insurability

This benefit allows you to increase your Serious Illness 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

With this 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.

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.

Hospital Cash

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 the Hospital Cash sum insured 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

This is an optional additional benefit. 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.

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 the Personal Accident benefit sum insured for that life 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.

Permanent Total Disablement (Own Occupation)

This is an optional additional benefit only available if Serious Illness cover is chosen. The Permanent Total Disablement (Own Occupation) sum insured is the same as the relevant Serious Illness sum insured, and Permanent Total Disablement (Own Occupation) benefit is always an acceleration of the Serious Illness sum insured. This means that a successful Permanent Total Disablement (Own Occupation) claim will reduce the relevant Serious Illness sum insured to zero. If the plan type is accelerated, this in turn will reduce the Life sum insured by the amount of the Permanent Total Disablement (Own Occupation) sum insured.

On proof that a life insured is suffering Permanent Total Disablement (Own Occupation), Zurich Life will pay the Permanent Total Disablement (Own Occupation) sum insured in force at the date of diagnosis.

Permanent Total Disablement (Own Occupation) requires that a life insured be permanently, totally and irreversibly unable by reason of sickness or bodily injury to carry out the duties pertaining to his/her normal gainful occupation as stated on the application form. At least twelve months is normally required to establish that a life insured is suffering Permanent Total Disablement (Own Occupation).

Optional Features

Conversion Option

Where you choose to include a Conversion Option as part of your Serious Illness cover policy, you can later choose to extend your Serious Illness cover, without having to provide fresh medical information at the time. The maximum extended term is to age 75 . The maximum term of the extended protection on the new policy will be the lesser of 40 years and
75 minus the then age next birthday of the (older) life insured. An increased premium will be calculated for the extended protection on the new policy based on Zurich Life’s then current premium rates.

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%.

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