When you cover yourself for life and/or serious illness cover you are not only getting cover for yourself but for your children too. Under your policy your children are provided with life cover of €4,000 - €7,000 from 3 months up to age 18, or age 21 if they are in full time education. The death of a child is not something anyone likes to think about especially when it comes to our own but it is a valuable benefit to have and is provided at no extra cost.
If you also have serious illness cover included in your policy your children are also covered for the lesser of €25,000/50% of cover for the majority of the main illness you are covered for and also they will have the partial payment serious illness cover too for the lesser of €7,500/50% of your serious illness cover.
When you have a policy with serious illness cover you are provided with your selected amount of cover for up to 55 difference specified illnesses ( depending on the company, some will cover less). In addition to this you will automatically be covered for the lesser of €15,000/50% of that sum insured for up to 36 extra illnesses (again depending on the company). A partial claim made from your policy does not affect the amount of your serious illness cover and you can claim for a partial illness more than once subject to that the total amount claimed does not exceed your level of serious illness cover noted on the policy. So really with a serious illness policy you are getting double the cover for no extra charge. The full list of illness and there definition to be met for a successful claim are outlined in the policy conditions provided to you on issue of you policy. Terms & conditions will apply as this benefit is subject to underwriting.
This extra benefit provided free in your policy gives you the choice to increase the level of life cover and/or serious illness cover without providing further medical evidence should a special life event occur such as an increase in your mortgage, you get married, the birth or adoption of a child or in some policies a promotion or rise in income. This object is subject to underwriting and if it is included in your policy can be used up to age 55.