Life Assurance: Serious Illness Cover

Standalone Serious Illness Cover

This cover provides a lump sum payment on the diagnosis and certification of a prescribed serious illness.

Accelerated Serious Illness Cover

This cover provides a lump sum on the earlier of death or the diagnosis and certification of a prescribed serious illness.

Terminal Illness Benefit

Applies to Accelerated Serious Illness Cover only. On diagnosis of a terminal illness an advance payment of the benefit can be claimed. The following conditions apply:

80% of the benefit may be paid in advance up to a maximum of €2million.
A life expectancy of 12 months or less must be diagnosed.
20% of the benefit will be paid on subsequent death.
Premiums continue to be paid during the remaining period.

Benefit Prepayment Facility

50% of the Serious Illness benefit will be prepaid up to a maximum of €20,000 for certain qualifying surgeries.

Children's Cover

This provides for the payment of a serious illness benefit of 50% of the main benefit, but with a maximum benefit of €25,000 or a death benefit of €2,500.

Optional Benefits Include:

Indexation Option

If this option is chosen, the Serious Illness benefit will automatically increase by 5% each year. The premium will increase by 8% each year to pay for the additional cover.

Hospitalisation Cover

This is an optional benefit for which a cash amount will be paid for each night spent as an inpatient in a hospital. Hospitalisation must be for 3 consecutive days before the benefit will become payable. It is payable for a maximum continuous period of 1 year. A benefit amount of either €50, €100, or €150 must be chosen. The premium will increase depending on the amount selected.

Surgical Cash Benefit

This is an optional benefit for which a cash amount will be paid in the event of undergoing one of a qualifying number of surgeries.