Mortgage Protection

Mortgage Protection - Life & Serious Illness - Zurich Life


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Mortgage Protection – Life Insurance & Serious Illness cover from Zurich Life, will pay out a lump sum on death, but also covers 70 specified Illnesses with pay-out on diagnosis during your policy term. The policy also includes a host of automatically added benefits, including waiver of premium benefits, unique to Zurich Life as outlined below. In addition, the first month is free, and you start your policy anytime between the 1st and 15th of the month, allowing you ample time to assign the policy to your mortgage lender.

Mortgage Protection

Automatic Features & Benefits

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 can help provide parents with important financial breathing space should the worst happen and their child suffers a serious illness, or a bereavement occurs. 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.

This allows you to increase your Life and Serious Illness 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.

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.
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).
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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