Serious Illness Cover
A lump sum to help your financial security
What is serious illness cover?
Serious illness cover (also called specified illness cover) is an optional benefit which pays a lump sum if you suffer from one of the 25 common conditions Irish Life cover, such as malignant cancer, heart attack (diagnosed) and stroke (permanent symptoms). You and your family can use this lump sum to pay off bills or the mortgage, and to help give an income at this distressing time.
Why would you need specified illness cover?
Serious illness can strike at any time. The effects can be catastrophic. Not only could you face increased medical bills on top of your regular bills, you could also face them when your income is reduced because you can't work.
Some statistics about serious illness
- Men have a one in four chance of becoming seriously ill before the age of 65.
- For women, that figure is one in five.
- The average age of our customers who claim for specified illness cover is 51 for males, and 45 for females.
- The most common illnesses are malignant cancer, heart related illnesses (diagnosed) and stroke (permanent symptoms).
A lump sum to ease your worries
But the good news is that it is likely that if you suffer a serious illness you will survive. However, for many of those who survive, life will never be the same again. Some become disabled and have to change their home and car, while others need ongoing medical care. If you take out specified illness cover, Irish Life will provide a lump sum to make sure you don't have to worry about financial security.
Paying surgery benefit immediately
If you are diagnosed as needing surgery to the aorta, coronary artery surgery or heart valve and structural surgery and you have given Irish Life the evidence Irish Life need about your condition, Irish Life will pay your specified illness cover (up to €20,000) immediately. Irish Life provide this benefit automatically with specified illness cover. It means that you will have a cash lump sum to help you decide when and where you have your surgery. Irish Life will take the amount Irish Life pay from your total specified illness benefit. You will find full definitions of the surgery Irish Life cover in your terms and conditions booklet.
Limited payment for loss of a limb
If you lose one limb above the wrist or ankle joint, Irish Life will pay your specified illness cover (up to €40,000). Irish Life provide this benefit automatically with specified illness cover. If you have independent specified illness cover, Irish Life will only make a payment under this condition if you survive for 14 days after the loss. Irish Life will take the amount Irish Life pay from your total specified illness benefit.
When you take out specified illness cover, Irish Life will cover all your children between the ages of one and 21 for €25,000 (this is subject to a maximum of half of your specified illness cover) for as long as you are covered. They are covered for the same illnesses you are, apart from HIV and AIDS caused by an injury at work. They are also covered for bacterial meningitis. Irish Life will pay only one claim for each child regardless of the number of policies you may have with Irish Life. Your child must live for at least 14 days after they have been diagnosed or have had surgery. As Irish Life do not ask for any medical details about your children before Irish Life include them in your plan, Irish Life will not pay a claim that arises as a result of any medical condition they have had since birth or any medical condition you knew about before they reached the age of one or before the specified illness cover started.
Life assurance, Income Protection and Savings and Investments are provided by You Talk We Listen Ltd trading as (TMS Financial Services and as The Mortgage Shop). You Talk We Listen Limited trading as TMS Financial Services and as The Mortgage Shop is regulated by the Central Bank of Ireland.
Terms and conditions apply.