Types of Cover

Specified Illness Cover comes in two standard packages – standalone cover and accelerated cover.

Standalone Cover: will give you a predetermined lump sum if you or one of your children is diagnosed with a specified illness during the term of your policy. You will only be paid the lump sum if you survive for at least 14days after your illness is diagnosed and certified. If you die before you have made a claim on your specified illness cover, your family will receive a death benefit of 5% of the lump sum. You decide the term of your policy – normally between five and 40 years. Standalone specified illness cover can be arranged on a single, dual or joint life basis.

Accelerated Cover: provides a lump sum payment on the earlier of two events:
• The death of the person named on the policy
• The diagnosis and certification of a prescribed, specified illness as defined in the policy
• With accelerated cover, the lump sum is payable once i.e. on death or specified illness. Accelerated specified illness cover can be arranged on a single, dual or joint life basis. If one of your children becomes seriously ill or dies as a result of a specified illness, your policy will pay out a percentage of your benefit.

Terminal Illness Benefit

This benefit is available on accelerated specified illness policies only. If you are diagnosed with a terminal illness, this benefit provides an advance payment of a percentage of your death benefit. The payment applies only if you have a life expectancy of 12 months or less and the remaining balance of your death benefit is payable if you die within the term of your policy. You must continue to pay premiums after receiving your terminal illness benefit.

Optional Cover

Choose from a range of optional extras to extend your specified illness protection conversion option which allows you to extend your cover at any stage throughout the term of your plan and whereby you do not have to supply new evidence of your state of health.

Hospitalisation Cover

This option pays a cash sum of between €50 and €200 each night you spend as an inpatient in hospital. Your stay must last more than three consecutive days – up to a maximum of one year. Your premium will increase to pay for the additional cover.