We’re making someexciting new enhancements to our Protection suite...providing even better cover for your customers.
1. We're introducing Dual Mortgage Protection.
2. We're introducing Protection Continuation Option for life and serious illness benefits on Mortgage Protection.
3. We're increasing the number of partial payments conditions covered on our Serious Illness product.
4. In a first for Ireland, we're introducing 'Booster Payments' on certain Serious Illness conditions.
5. We're extending the maximum age of our life cover from age 85 to 90.
6. We're enhancing our Parental Respite Cover by adding a number of child specific serious illnesses to our serious illness contract.
7. We've new special offers on our Term Life, Mortgage Protection and Serious Illness plans - available from today until the end of the year.
8. We're updatingour smoker question to now include e-cigarettes and our Cancer-in-Situ definition.
Enhancing our Mortgage Protection product
You asked, we listened! There has been huge demand from Financial Brokers for us to add Dual Mortgage Protection to our suite, so we are delighted to add it from today.
We're also introducing Protection Continuation Option for life and serious illness benefits on our Mortgage Protection product. This option allows the customer to either extend their term on a new Mortgage Protection policy or revert to a new Term Protection policy without providing further medical evidence of good health.
And for good measure, we're also extending the maximum age of our life cover (both on Term and Mortgage Protection) from age 85 to 90.
Enhancing our Parental Respite Cover
Parental Respite Cover (also known as Children's Cover) isn't usually discussed - people simply do not want to consider the possibility of a child suffering a serious illness or worse. Sadly, however, every year we make payments to many parents to help them through a traumatic time.
To further improve our cover, in a first for Ireland, we're adding child specific illnesses* to our Serious Illness policy
*in order to make a valid claim, policy specific conditions must be met and exclusions apply.
Enhancing our Serious Illness Product
At Zurich, we believe that our Serious Illness definitions are the strongest in Ireland. In other words, we think customers will have a better chance of making a valid claim with Zurich than with other providers.
And to help make our product even stronger, we are increasing the number of partial payment illnesses and adding, in a first for Ireland Booster Payments.
Aortic Aneurysm - with endovascular repair
Early Stage Thyroid Cancer - of specified advancement
In another first for Ireland, we're introducing 'Booster Payments' for certain, life changing diagnoses of specified serious illness.
We will pay a booster payment of 200% of the full sum assured (subject to a maximum additional payment of €50,000) if a claim is made for any of the following specified serious illnesses that meets the definition in our terms and conditions:
Loss of hands/feet;
Loss of independent existence;
Loss of speech;
Paralysis of any limb;
Third degree burns;
Traumatic head injury.
And specifically for customers who are under 45 when they are diagnosed with:
Motor neurone disease;
Multiple system Atrophy;
Progressive supranuclear palsy.
Extended Protection Discounts until the end of the year
From, today, 20 August we are extending the following discounts:
Market leading Mortgage Protection pricing discount
Until 31 December, you can continue to offer your customers a 5%, 10% or 15% discount off the quoted GMP price.These discounts are available until 31 December and the 15% discount is not available on any policies with Serious Illness Cover.
Market leading Term Protection pricing
5%, 10%, 15% and 17.5% discounts are available on Life Cover only policies. The 15% & 17.5% discounts are not available on policies with Serious Illness Cover.
Market leading Serious Illness pricing
And we are delighted to be able to relaunch Serious Illness discounts: For both GMP and GTP, you can offer your customers a5% and 10% off the quoted Zurich price, for policies with Serious Illness.
The new product terms outlined above will not apply to cases in the pipeline. Applications submitted prior to 20 August 2019 will have the old terms while those submitted on or after this date will have the new terms.
New Customer Guides, Policy Docs & Application Forms
These are available on Zurichbroker.ie and from today, 20 August, these documents should be used. Printed supplies are available through your Broker Consultant.
Life Cover Quote Calculator
We are currently updating our Life Cover Quote Calculator. This will be updated on our site shortly. Please note that if you are using this calculator on your own site using an embedded code this may quote an incorrect premium.
Ronan O'Neill Head of Retail & Corporate Marketing
Zurich Life Assurance plc Zurich House, Frascati Road, Blackrock, Co. Dublin, Ireland. Telephone: 01 283 1301 Fax: 01 283 1578 Website: www.zurich.ie Zurich Life Assurance plc is regulated by the Central Bank of Ireland.