Life Protection Quotation

Transcription

1 Life Protection Quotation Prepared For: Date: 03/06/2013 Life Type: Single Life Quote Type: Specified Illness Cover Only QUOTATION DETAILS Male, 43 (01/Jan/1970), Non-Smoker, Specified Illness Monthly premium frequency, 20 year term, mortgage interest 6.00%, benefits and premiums not increasing. QUOTATION Quotations include 1% Government Levy. Provider Price Pledge Level Term Convertible Term Mortgage Protection Aviva Caledonian Life Friends First Irish Life New Ireland Zurich Life Price Pledge Convertible Mortgage Protection is only available from New Ireland Assurance. Important Notice The information is valid as at today's date and we believe is correct. Before proposing any business based on these figures, advisors and clients should verify the selected quotation with the appropriate underwritter. These figures are subject to underwriting by the Insurance Company on receipt of a completed application form. Mortgage Convertible Monday, June 03, 2013 Page 1

2 Life Cover Options It is a legal requirement that all lending institutions get a life assurance protection policy to cover their clients' Homeloans (except in exceptional circumstances). In the event that a joint mortgage application has been made, then a life policy will pay on the first death. There are various different types of policies available to meet this requirement. Mortgage Protection This is the cheapest type of cover and will meet the requirements of lenders. Life cover will start at the same level as your mortgage and will decrease in line with mortgage repayments made. Additionally Serious Illness Cover can be added to the cover. This will pay off the mortgage in the event of borrower being diagnosed with a prescribed with a prescribed serious illness. Level Term Cover For this type of cover, the borrower will choose a set level and a specific term of cover. Your cover will remain at the same level throughout the chosen term of the life assurance policy and premiums will also remain unchanged. There are a number of options available with these policies: Index linked cover - this option allows you to increase cover, on payment of an additional premium, during the term of the policy without providing new medical evidence. Serious Illness Cover can be added to the cover on the same terms subject to an additional premium and more detailed underwriting. Convertible Term Cover The conversion option - can be included in your term assurance policy at inception allowing you to continue your policy after the initial policy term for another specific term or to change it to a whole of life policy without providing medical evidence. This is advantageous, because if health has deteriorated, then cover is nonetheless guaranteed. This type of cover is very suited to family protection needs. Life and Accelarated Serious Illness Cover When this option is selected a claim may be made for Life Cover or Serious Illness but not both. Single, Joint or Dual Cover? Single cover insures one person. Joint cover will pay benefits on the first death of either joint insured persons. Dual cover will pay benefits on the death of both insured persons, almost as if they each had single policies. "Price Pledge" A small number of insurers provide a "price pledge" whereby they guarantee to provide protection cover at a premium to match the most competitive premium available in the Irish market. Clients should consult their broker in relation to this facility. + Irish Life Price Pledge Applies To: Level & Convertible, Term Assurance and Mortgage Protection, Indexed and Level Quotes. Single, joint life first death and dual cases, non-smokers and smokers. Minumum premiums still apply ( 13 p.m for Mortgage Protection, 15 for Term Assurance). Maximum sums assured of 1,500,000. Does not apply to Mortgage Protection where an assumed interest rate of less than 5% is used. + New Ireland Price Pledge Applies To: Mortgage Protection,Level Term Assurance and Convertible Term Assurance,Single, dual and joint life first death cases, non-smokers and smokers,life-only, Life with Specified Illness, Accelerated Specified Illness and Stand-alone Specified Illness, Rider benefits: Hospital Cash & Accident Benefit. + Friends First Price Pledge Applies To: Mortgage Protection, Level Term Assurance, Single, dual and joint life cases, non-smokers and smokers, Indexed and level quotes. Maximum sum assured of 1,300,000 on Life cover and 500,000 on Specified Illness cover, minimum premiums still apply. + Caledonian Life Price Pledge Applies To: Mortgage Protection, Level Term Assurance, Single, Dual and Joint Life cases, non-smokers and smokers. Does not include annual premium frequency. Maximum sum assured of 1,500,000 (LC) and 500,000 (SI), minimum premiums still apply. Cases must be submitted by esp. + Aviva Price Pledge Applies To: Mortgage Protection (interest rate must be >=6%), Level & Convertible Term Assurance, Single, Dual and Joint Life cases, non-smokers and smokers, indexed and level. Maximum sum assureds of 1,500,000. Minimum premiums still apply. Cases must be submitted by WriteNow. Serious Illness Comparisons Canada Life Zurich Life Friends First Aviva Irish Life New Ireland Caledonian Life Partial Covers 21 Partial Covers No Cover 36 No Cover 14 No Cover 26 No Cover 8 No Cover 4 No Cover 12 No Cover 2 AIDS / HIV - Assault Yes Yes Yes Yes Yes Yes Yes AIDS / HIV - Occupational Yes Yes Yes Yes Yes Yes Yes Monday, June 03, 2013 Page 2

3 AIDS / HIV - Transfusion Yes Yes Yes Yes Yes Yes Yes Alzheimer's Disease Yes Yes Yes Yes Yes Yes Yes Angioplasty (one vessel) "Of Specified Severity" No No No Partial Partial Partial No Angioplasty (two vessel) "Of Specified Severity" Partial Up to Partial Partial Partial Partial Partial 100,000 Aorta Graft Surgery Yes Yes Yes Yes Yes Yes Yes Aplastic Anaemia Yes Yes Yes Yes Yes Yes Yes Bacterial Meningitis Yes Yes Yes Yes Yes Yes Yes Balloon Valvuloplasty Yes Yes Yes Yes Yes Yes Yes Benign Brain Tumour Yes Yes Yes Yes Yes Yes Yes Benign Spinal Cord Tumour Yes Yes Yes Yes Yes Yes Yes Blindness Yes Yes Yes Yes Yes Yes Yes Brain Abscess drained via Craniotomy No Partial Partial Partial Partial Partial Partial Brain injury due to anoxia or hypoxia No No No No Yes No Yes Cancer Yes Yes Yes Yes Yes Yes Yes Carcinoma in Situ (Breast) No Partial Partial Partial Partial Partial Partial Carcinoma in Situ (Oesophagus) No Partial Partial Partial Partial Partial Partial Carcinoma in situ of the Uninary Bladder No Partial No Partial Partial No Partial Cardiac arrest (with defibrillator insertion) Yes Yes No Yes Yes Yes Yes Cardiomyopathy Yes Yes Yes Yes Yes Yes Yes Carotid Artery Stenosis No Partial Partial No Partial Partial Partial Cerebal Aneurysm No No No Partial Partial No Partial Cerebral Arteriovenous Malformation No Partial Partial Partial Partial Partial Partial Chronic Liver Disease Yes Yes Yes Yes Yes Yes Yes Chronic Lung Disease No No No yes Yes Yes Yes Chronic pancreatitis of specified severity No No No No Yes No Yes Coma Yes Yes Yes Yes Yes Yes Yes Coronary Artery Surgery Yes Yes Yes Yes Yes Yes Yes Creutzfeld-Jacob Disease Yes Yes Yes Yes Yes Yes Yes Crohn s disease treated with surgical intestinal resection No No No Partial Partial yes Partial Crohn's Disease - Severe No Partial No Yes Yes No Yes Dementia Yes Yes Yes Yes Yes Yes Yes Monday, June 03, 2013 Page 3

4 Devic's Disease No No No Yes Yes No Yes Early Stage Bladder Cancer (Aviva, Caledonian & Zurich No Yes Yes Partial Partial Partial Yes cover under main Cancer Benefit) Emphysema (Chronic Lung Disease) Yes Yes Yes Yes Yes Yes Yes Encephalitis Yes Yes Yes Yes Yes Yes Yes Heart Attack Yes Yes Yes Yes Yes Yes Yes Heart Surgery Yes Yes Yes Yes Yes Yes Yes Implantable cardioverter defibrillator for primary prevention No No No No Partial No Partial of sudden cardiac death Intensive Care (requiring mechanical ventilation for 10 No Yes No Yes Yes Yes Yes consecutive days) Kidney Failure Yes Yes Yes Yes Yes Yes Yes Liver resection No No No No Partial No Partital Loss of Hearing Yes Yes Yes Yes Yes Yes Yes Loss of Limbs Yes Yes Yes Yes Yes Yes Yes Loss of One Limb No Partial Yes Partial Yes Partial Yes Loss of Speech Yes Yes Yes Yes Yes Yes Yes Low Level Prostate Cancer No Partial Partial Partial Partial Partial Partial Major Head Injury Yes Yes Yes Yes Yes Yes Yes Major Organ Transplant Yes Yes Yes Yes Yes Yes Yes Motor Neurone Disease Yes Yes Yes Yes Yes Yes Yes Multiple Sclerosis Yes Yes Yes Yes Yes Yes Yes Multiple System Atrophy Yes Yes Yes Yes yes Yes Yes Muscular Dystrophy (Irish Life may consider under Loss No Yes No No No Yes Yes of Independence; SEE POLCY TERMS AND CONDITIONS) Paralysis Yes Yes Yes Yes Yes Yes Yes Paralysis of One Limb - total and irreversible No Partial No Partial Yes Partial Yes Parkinson plus Syndromes (N.I. May consider under TPD) No No No No Yes No No Parkinson's Disease Yes Yes Yes Yes Yes Yes Yes Peripheral Vascular Disease (Irish Life & Caledonian; No No No Yes Yes yes Partial Partial treated with Angioplasty;Full with By Pass treatment) Pituitary Tumour - No No No No Partial No Partial Monday, June 03, 2013 Page 4

5 Pneumonectomy No Yes No Yes Yes Yes Yes Pre-Senile Dementia No Yes Yes Yes Yes Yes Yes Primary Pulmonary Hypertension Yes Yes Yes Yes Yes Yes Yes Primary Sclerosing Cholangitis No No No Yes No No Yes Progressive Supra-Nuclear Palsy Yes Yes Yes Yes Yes Yes Yes Pulmonary Artery Surgery Yes Yes Yes Yes Yes Yes Yes Rheumatoid Arthritis (Irish Life may consider under Loss of Yes Yes Yes No No Yes Yes Independence SEE POLICY TERMS & CONDITIONS) Serious Accident Cover (Restriction "Number of Days in No Partial Partial Partial Partial Partial Partial Hospital") Severe Burns (covering at least 10% of body surface) (or No Partial Partial Yes Partial Partial Yes Zurich 25% facial burns; Irish Life 5% of body surface;new Ireland 5% -19% of body surface or 25% of face surface;aviva 20% of body surface or 50% facial) Severe Burns 3rd Degree (Min % body surface;aviva Yes Yes No Partial Yes Partial Partial 5%;Caledonian 10%; Canada Life & New Ireland 20%;Aviva & Irish Life 25% of face) Short Bowel Syndrome No No No Yes No No Yes Significant Visual Impairment No Partial No Partial Partial Partial Partial Single Lobectomy No Partial No Partial Partial Partial Partial Stroke Yes Yes Yes Yes Yes Yes Yes Surgical Removal of One Eye No Partial Partial Partial Partial Partial Partial Syringomyelia or Syringobulbia treated by surgery No Partial No Partial Partial Partial Partial Systemic Lupus Erythematosus Yes Yes Yes Yes Yes Yes Yes Terminal Illness Yes Yes Yes Yes Yes Yes Yes Total and Permanent Disability (Loss of Independent Yes Yes Yes Yes yes Yes yes Existence) Total Colectomy with permanent Ileostomy( Zurich; Ulcerative Colitis;treated with Total Colectomy) No Partial No Partial Partial Partial Partial Source: Money Advice. March The information in this comparison is supplied as a general guide only and although prepared with care, Lunar Technologies Ltd T/A Money Advice accepts no responsibility for any errors or omissions. This comparison is for illustration purposes only and does not form part of any contract. Please refer to Product Providers Policy Terms and Conditions for a full description of the specified serious illness covers provided and their definitions and the circumstances in which a claim will be payable Monday, June 03, 2013 Page 5