Cost of specified serious illness to increase

Specified serious illness cover has been available in Ireland for over 20 years.

Some serious illnesses can have a significant impact on your life. They can stop you from working and your recovery may require an extended period away from work.

Specified serious illness cover provides you with a tax-free lump sum if you are diagnosed with a specified serious illness*.

The claims experience in the market has changed significantly and re-insurance costs have increased to reflect this. As a result, we have been informed by one of the leading providers that the cost of this type of cover will increase across products.

Price increases will range from between 5% to 9.5%. This change is due to come into effect early next week.

*The range of conditions protected varies between providers, so you need to check your policy conditions.