Zurich Life have today launched 5 areas of improvement on their Term Assurance & Specified Illness Cover offering. Please see below the areas of change;
1.Enhancing Children’s benefits:
Childrens Cover | Death of a Child
Zurich Life have increased their Childrens Life Cover payout to €7,000. Their maximum ages have also increased from 21 (if the child is in full time education) up to 25 (if the child is in full time education)
Specified Serious Illness of a Child
Zurich Life have increased their maximum ages from 21 (if the child is in full time education) up to 25 (if the child is in full time education) for any illness that meets a FULL or PARTIAL definition
Childrens Overseas Surgery Benefit
.Their maximum ages have also increased from 21 (if the child is in full time education) up to 25 (if the child is in full time education) for a child requiring Overseas Surgery & meeting their payout criteria
2.Acceleration of life payment for funeral expenses
Where Zurich Life has confirmed in writing that a claim is valid and that benefit will be paid subject to the production of grant of Probate or grant of letters of administration, Zurich Life will, upon written request issue payment in respect of the funeral expenses of the deceased directly to the funeral director on production of the funeral director’s invoice to a maximum of €7,500. Any such payment will be deducted from the life sum Insured in respect of the deceased. This option is not available where the policy has been assigned to a third party.
3.Adding of the following PARTIAL payment Specified Illnesses:
1.DIABETES MELLITUS – Type 1
A definite diagnosis of type 1 diabetes mellitus, requiring the permanent use of insulin injections.
The following are not covered:
• Gestational diabetes; or
• Type 2 diabetes (including type 2 diabetes treated with insulin); or
• Latent Autoimmune Diabetes of Adulthood (LADA), sometimes referred to as type 1.5 diabetes.
2.GASTROINTESTINAL STROMAL TUMOUR (GIST) OF LOW MALIGNANT POTENTIAL – With Surgery
Gastrointestinal stromal tumour (GIST) of low malignant potential diagnosed by histological confirmation and that has been treated by surgery to remove the tumour.
For the above definition, the following is not covered:
• Tumours treated with radiotherapy, laser therapy, cryotherapy or diathermy treatment.
4.Update of the following FULL payment Specified illnesses:
1. Blindness: moving from 3 / 60 to 6 / 60 on the Snellen eye chart
2. Multiple Sclerosis: moving from current impairment to previously recorded impairment
3. Dementia: removing ‘pre-senile’ from their definition
5.Pricing Policies of Zurich Life
Zurich Life have stated that they are now offering 17.5% on their Mortgage Protection policies until March 2018
Zurich Life have stated that they are continuing their 5%/10%/15% discounts until March 2018
All the definitions and changes and quotations outlined above can be compared or quoted in the Term Assurance & Specified Illness Cover section of ClearChoice or in the quotes section.
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