For a limited time only Zurich is offering a 20% discount on certain mortgage protection and term life insurance policies.
Until May 5th 2022, Zurich is offering new customers an eye-watering 20% discount on life cover valued at €300,000 or more.
This 20% discount will be applied to the quoted price Zurich provides to customers who are applying for either Guaranteed Term Protection (GTP) or Guaranteed Mortgage Protection (GMP).
However, GTP and GMP policies that include serious illness cover are not eligible for the 20% discount. These policies will receive a serious illness discount of 5% instead.
Now before we dive into the nitty-gritty of the terms and conditions of this time-limited offer, let’s take a look at who Zurich is and what type of cover this discount applies to.
Who is Zurich?
Zurich is a global insurance company that provides a wide range of insurance services and products in more than 210 countries and territories.
Known as Zurich Life Assurance plc or Zurich Life, it has been providing life insurance policies in Ireland for the last 40 years. It currently employs over 1,000 people in its Dublin and Wexford locations.
What is term protection?
Term protection, also known as term life insurance, is an insurance plan that lasts for a set amount of time such as 10 or 20 years.
Although term cover is not a legal requirement in Ireland, many people opt to avail of this type of insurance. This is because your loved ones or dependents will receive a tax-free lump sum if you pass away during the term of your policy.
Term protection ensures that your family will continue to be financially secure after your death.
What is mortgage protection?
Mortgage protection insurance is a legal requirement for the majority of mortgage holders in Ireland. Most mortgage lenders will refuse to draw down mortgages until this cover has been put in place.
This type of insurance protects both your family and your mortgage lender from financial loss or strain if you were to die before your mortgage was fully paid off.
Upon your death, your insurer will pay your mortgage lender a lump sum that will cover the outstanding balance left on your mortgage.
Unlike term life insurance, the level of cover provided by mortgage protection reduces over the term of your policy in line with the outstanding balance that remains on your mortgage.
You can learn all about mortgage protection in this guide and discover how you can compare mortgage protection here.
What are the terms and conditions?
With a discount of 20% on mortgage protection and term life insurance, it will come as no surprise that many consumers will want to avail of this limited offer as a way of lowering their insurance bills.
The discount is available for those applying for either level term or indexed policies.
To meet Zurich's criteria for the 20% discount on GTP and GMP policies you must:
Have cover valued at €300,000: Your life cover must be €300,000 or more.
Use online direct debit: Your monthly payments must be paid to Zurich through online direct debit only.
- To receive the discount there is a maximum monthly payment limit of €250.
- If your monthly payment exceeds this limit, you will only receive a discount on the first €250 of your monthly fee.
- The additional balance after €250 will not be subject to the discount.
It's important to note that this offer can not be:
- Used in conjunction with any other special offer.
- Used for rewrites of existing Zurich policies or for policies that are going to be extended.
- Applied to any extra premium for per mille loadings.
Closing date
To avail of this 20% discount, you must submit your application for Guaranteed Term Protection and Guaranteed Mortgage Protection by May 5th 2022.
Your policy must be issued by June 30th 2022.
Lower your insurance costs on bonkers.ie
On bonkers.ie, you can apply for life insurance cover. Using our comparison service, simply input your details and the amount of cover you require so you can discover the right policy for you.
You can also apply for mortgage protection insurance on our website too. Submit your mortgage protection details to start comparing premiums from Ireland’s leading mortgage protection lenders.
Once you’ve discovered the right policy for you, you can complete your application online and within 1 hour you could be covered!
On our insurance page, you can also get a quote for home insurance, car insurance, health insurance, and serious illness cover.
If you want to cut your household expenses across the board, use our range of comparison tools which will help you find the best energy, broadband, and banking deals on the market.
Get familiar with life insurance
To learn more about mortgage protection and life insurance cover read our helpful guides below.
- Discover why you should get life insurance cover.
- Did you know that you don’t have to get mortgage protection from the bank you get your mortgage from? Learn more about this in our guide on the topic.
- Here are 6 things you should consider when purchasing mortgage protection cover.
Keep up to date with our insurance news on our blog and guide pages.
Get in touch with our team
Do you have any more questions regarding Zurich’s discount offer? If so, reach out today, and we can discuss all your life insurance options. Contact us on Facebook, Instagram, or Twitter.
