Term Assurance

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Term Assurance

A Term Assurance plan is essential for anyone who has dependants. Nobody likes to think about it, but have you considered the financial impact your death or incapacity due to illness would have on the lives of your loved ones? A Term Assurance plan helps you plan for unforeseen events by providing protection that is perfectly suited to your needs

You simply choose the level of cover you need and the period that you want the cover to last. With Level Term Assurance, the amount of cover you choose at the start of the plan will remain fixed over the term of the plan. The premium you pay is also guaranteed to remain fixed throughout the term.

Term Assurance - Core Benefits
- Life Cover We pay you a lump sum payment in the event of death or diagnosis of a terminal illness.

Children are automatically covered for €4,000 Life Cover. A child is defined as aged 1-18 and 18-21 if in full-time education.

- Critical Illness Cover We pay you a lump sum if you are diagnosed with any one of 28 specified critical illnesses, including cancer, heart attack and stroke.

Children are automatically covered for 50% of your Specified Critical Illness Cover up to a maximum of €25,000. A child is defined as aged 1-18 and 18-21 if in full-time education.

Term Assurance - Optional Benefits

- Total & Permanent Disability Benefit We pay you a lump sum if you are totally, permanently and irreversibly unable to carry out work as a result of injury or illness before your 60th birthday.

- Hospital Cash Benefit We pay you a daily amount of up to €200 per day if you are in hospital for more than three days.

Children are automatically covered for €35 per day Hospital Cash Benefit. A child is defined as aged 1-18 and 18-21 if in full-time education.

- Increasing Cover Option By choosing this option the level of cover chosen and the premium payable will increase by 5% each year to maintain the "real" value of your cover by offsetting the effect of inflation.

- Conversion option This option allows you to convert your current policy to a new Term Assurance plan or Mortgage Protection plan without having to provide evidence of health.

Term Assurance - Cover Options

- Single Life Cover One life is covered. The cover amount is paid out on death and/or critical illness, and the policy then ceases.

  • Dual Life Cover Two lives are covered. With dual life cover the payment of the cover amount for one life (in the event of death and/or critical illness) does not affect the level of cover of the other life. Because cover for each life is treated independently, you can also choose to have different levels of cover for each person.

Please feel free to contact us at any stage.

 

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Spirit Financial

Mine Hill Business Centre
Kilternan
Dublin 18
D18 P5YO

Phone : 01 2944 280

Email : info@spiritfinancial.ie

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