Global Life & Finance Ltd DECREASING TERM ASSURANCE. Aviva Life & Pensions Friends First Irish Life New Ireland Royal London Zurich Life

Transcription

1 Global Life & Finance Ltd DECREASING TERM ASSURANCE Customer: Mortgage Protection Advisor: Seamus Fox Date: 11/03/2017

2 Comparison Aviva Life & Pensions LC (Children's Life Cover) LC (Conversion Option) LC (Dual Life Cover 2nd Event) LC (Guaranteed Insurability) LC (Max Age at Entry Conversion) LC (Max Expiry Age Conversion) LC (Max Expiry Age Life Cover) LC (Max Expiry Age Specified Illness Cover) LC (Maximum Age at Entry Life Cover) LC (Medical 2nd Opinion Service) LC (Minimum Premium) LC (Minimum Term) LC (Optional Flexibility) LC (Reinstatement) LC (Rolling Conversion Option) LC (Temporary Accidental Death Benefit) LC (Terminal Illness Benefit) LC (Waiver of Premium ) LC Maximum Term R (Hospital Cash Cover) R (Overseas Treatment Plan) R (Personal Accident Cover) R (Total Permanent Disability Cover) 2,500 5,000 7,000 4,000 5,000 0 No No Yes Yes No No No Yes No No No No Yes No Yes Yes Yes Yes NA No NA No NA No NA No N/A Yes No Yes No Yes No 20 per month 10 per month 13 per month 15 per month 15 per month 10 per month 2 years 5 years 2 years 5 years 5 years 5 years No No Yes Yes No No Yes Yes Yes Yes Yes Yes No No No Yes No No Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes No No No No No Yes 50 years 40 years 50 years 40 years 40 years 40 years No No No No No Yes Yes No No No No No No No No No No Yes Yes Yes Yes No Yes Yes 2

3 SIC (Advance Payment of Heart Surgery) SIC (Children's Partial Specified Illness Cover Payment) SIC (Children's Specified Illness Cover) SIC (Maximum Age at Entry Specified Illness Cover) SIC (Overseas Surgery) SIC (Partial Specified Illness Cover) SIC (Specified illness Cover Accelerated) SIC (Surgery Payment) No Yes Yes No Yes Yes Yes Yes Yes No Yes No 25,000 20,000 25,000 N/A 25, N/A No Yes No No No Yes Yes Yes Yes No Yes Yes Yes Yes Yes N/A Yes Yes No No Yes N/A No No 3

4 Comparison Notes of Interest LC (Children's Life Cover) will pay out 2,500 in the event of a death of a child of the life assured. This is only available if specified illness is selected as a main benefit.max age of child is 21 will pay out the lower of 5,000 or 10% of the level cover benefit in the event of a death of a child of the life assured.max age of child is 21 will pay out 7,000 in the event of a death of a child of the life assured.max age of child is 25 will pay out 4,000 in the event of a death of a child of the life assured.max age of child is 18 or 21 if the child is in full time education will pay out 5,000 in the event of a death of a child of the life assured. Max age of child is 18 or 21 if the child is in full time education. do not offer this benefit LC (Conversion Option) do not offer this benefit do not offer this benefit will let a policyholder convert their policy to another decreasing assurance plan or equivalent at any stage throughout the term of the current policy without any new medical evidence of health will allow a policyholder convert their policy to another decreasing term assurance plan or equivalent at any stage throughout the term of the current policy without any new medical evidence of health do not offer this benefit do not offer this benefit LC (Dual Life Cover 2nd Event) do not offer this benefit are the only company to offer this benefit do not offer this benefit do not offer this benefit do not offer this benefit do not offer this benefit LC (Guaranteed Insurability) With Aviva, if a client increases their mortgage or if they extend the term of their mortgage, but not beyond their 70th birthday, they may use their guaranteed insurability option to meet their increased needs for life cover. The new plan is for life insurance only, SIC cannot be included. No further evidence of their medical health will be required, provided that the term of the policy matches that of their extended mortgage, and any increase in their cover is not more than 40,000 4

5 or; 1. If they lower their level of original cover or 2. If lower, the increase in the amount of cover required Cannot be used if original plan was issued with special terms. Policy must be assigned as collateral security for a mortgage. do not offer this benefit will allow a client to increase to the lower of 50% original life cover or specified illness sum insured or 125,000. will allow this option to be used in the event of a mortgage, re-mortgage, birth or adoption of child, marriage. will also allow the benefit to be exercised in the event of the life assured change in job or promotion. require client to be under age 55 in order to exercise this option. allows this option to be exercised only twice and to a maximum of 250,000. With a client can increase the level of the lump sum on death benefit applying to a life insured within 3 months of the occurrence of any of the following life events without providing evidence of the life insured s current health and occupation: (a) The life insured has increased a mortgage associated with this policy because the life insured has moved principal residence; (b) The life insured has married; (c) The life insured or a spouse of the life insured has given birth to a child or legally adopted a child. In the case of each life insured, the option to increase a benefit without medical evidence will only apply if the life insured is already covered for that benefit within the policy. The total amount of the relevant benefit after exercising the life events option cannot exceed the maximum of (1) and (2) as follows: (1) The amount of the benefit provided by this policy at the time of exercising the option plus The lesser of: (a) 50% of the amount of the benefit at the policy start date (or, if the benefit was subsequently added to your policy, at the time it was first added), and (b) 100,000, and (2) The lesser of: (a) The amount of the benefit at the policy start date (or, if the benefit was subsequently added to your policy, at the time it was first added), and (b) 500,000. Where the life events option is exercised on more than one occasion, then the amount in (1) is restricted to a cumulative maximum increase of 200,000. If you exercise the medical-free conversion option, then the maximum a benefit amount can be increased to under the life events option, without providing additional medical evidence, is restricted to 200,000 over the amount of the benefit at the policy start date or, if the benefit was subsequently added to your policy, at the time it was first added to the policy. Where you have more than one policy with the Company, increases to other policies which have taken place under a life events option will be taken into account for the purposes of calculating the maximum increase under this policy. The life events option is subject to all of the following: When exercising this option the life insured (or the older life insured in the case of a joint life policy) is under 55 years of age on the date of application to exercise this option. A policyholder must notify that they wish to exercise this option within 3 months after the date of the life event described in (a) to (c) above and provide with the following evidence: Confirmation of the loan draw-down for the mortgage in the event of an increase in the mortgage and moving principal residence. A marriage certificate in the event of marriage. A birth certificate in the event of a birth/ legal adoption of a child together with a copy of an appropriate adoption order. The premiums must be paid in full when due up to the date of the exercise of the option. Maximum increase of the lower of 100,000 or 50% of the original cover. Maximum increase of 200,000 over the policy term. If increasing accelerated specified illness, it must match the life cover. However life cover can be increased on its own. Can be used in the event of a mortgage, marriage, birth or adoption. Max age before 55 Cannot exceed 50% of the appropriate sum assured on your policy schedule. The total increase cannot exceed 100% of the original sum assured on the policy schedule. Total increase across all policies for any one special event cannot exceed 100,000 & 200,000 across a term. If joint life, the increase applies to both, and for dual life it is treated separately. must be advised within six months of the event. Special terms will apply through increases. There can be an increase in the benefit of life cover, specified illness or cancer cover, permanent total disability (own occupation) without further medical evidence in the event of child, change of job, re-mortgage or marriage. Expires age 55 LC (Max Age at Entry Conversion) do not offer this benefit do not offer this benefit Maximum age at entry with with a conversion option is 64 Maximum age at entry with a conversion option is 59 do not offer this benefit do not offer this benefit LC (Max Expiry Age Conversion) do not offer this benefit do not offer this benefit 5

6 Maximum age at expiry with with a conversion option is 79 Maximum age at expiry with with a conversion option is 64 do not offer this benefit do not offer this benefit LC (Max Expiry Age Life Cover) Maximum age at expiry for is 89 Maximum age at expiry for is 79 Maximum age at expiry for is 84 Maximum age at expiry for is 84 Maximum age at expiry for is 89 Maximum age at expiry for is 84 LC (Max Expiry Age Specified Illness Cover) Maximum age at expiry for specified illness for is 74 Maximum age at expiry for specified illness for is 74 Maximum age at expiry for specified illness for is 74 do not offer this benefit Maximum age at expiry for specified illness for is 74 Maximum age at expiry for specified illness for is 74 LC (Maximum Age at Entry Life Cover) Maximum age at entry for is 74 Maximum age at entry for is 69 Maximum age at entry for is 82 Maximum age at entry for is 74 Maximum age at entry for is 74 Maximum age at entry for is 74 LC (Medical 2nd Opinion Service) offers the Best Doctors benefit. Best Doctors offers a second medical opinion service by drawing on the knowledge of medical experts. If a client has access to Best Doctors and is diagnosed with a significant medical condition, a client can call Best Doctors and a medical specialist will review their diagnosis and treatment. The client will then be guided through the medical process. Eligible clients can contact Best Doctors at any point during the life of their policy and the service may be used as often as need be during this time. As long as they have an active policy there is 6

7 no limit to the use of Best Doctors. may withdraw this service at any time. do not offer a medical 2nd opinion offer Life Care. Life Care from contains three benefits. MedCare is a medical second opinion service available from MediGuide. NurseCare is a 24/7 helpline connecting a client with a nurse through two services, these are NurseAssist 24/7 and Women s Health Centre. ClaimCare is a dedicated claims handler. ClaimCare also allows for three counselling sessions for next of kin with the Clanwilliam Institute. cannot guarantee the ongoing availability of the MediGuide service to their customers and this service may be withdrawn or change in the future. do not offer a medical 2nd opinion offer the Helping Hand benefit. Helping Hand offers one-to-one personal support from Red Arc which includes; the provision of bereavement counsellors, speech and language therapists, oncology nurses, physiotherapy, face to face second medical opinion, cardiac rehabilitation support, complementary therapies, massages and reflexology. The service can be amended or withdrawn at any time. do not offer a medical 2nd opinion LC (Minimum Premium) Minimum premium for is 20 a month or 200 annually Minimum premium for is 10 a month, 30 a quarter, 60 half yearly or 100 annually Minimum premium for is 13 a month Minimum premium for is 15 a month Minimum premium for is 15 a month or 180 annually Minimum premium for is 10 a month if case is submitted online, otherwise the minimum premium is 12 a month LC (Minimum Term) Minimum term for is 2 years Minimum term for is 5 years Minimum term for is 2 years Minimum term for is 5 years Minimum term for is 5 years Minimum term for is 5 years LC (Optional Flexibility) do not offer this benefit do not offer this benefit With, the benefit can only be used within the first 5 years of the policy. Initial term must be greater than 10 years. Client must be 49 or younger. Increase cannot exceed 500,000 per life on life cover or 300,000 per life for specified illness. Benefit allows an increase of 20% of initial benefit and maximum term extension of 5 years. Will not apply to any benefit that has been originally excluded or rated. Cannot be used on cases where a claim has been processed excluding hospital cash cover and accident cash cover. Term can only be extended once. Where a benefit is being increased and / or a term is being extended, a declaration of health is required. You must pass this in order for the alteration to be accepted. 7

8 With, at any stage throughout the Term of Cover you may request to amend the Term of Cover or the amount of Protection Benefits. You can also elect to add or remove a Life Insured or Protection Benefits to your policy. Any amendments will be subject to underwriting and acceptance by the New hireland. Where a request for such an amendment is accepted by te, this will result in your Premium being re-calculated to take account of the changes being made and will be confirmed by an endorsement to the policy. do not offer this benefit do not offer this benefit LC (Reinstatement) A client or their legal representatives have the right to pay the unpaid premiums due on the policy within 6 month's of the date on which the first unpaid premium was due and have the policy reinstated. The policy can be reinstated even if a claim has arisen. This provision does not apply if the policy is cancelled by the policyholder(s). After one month a declaration of health is required A client or their legal representatives have the right to pay the unpaid premiums due on the policy within 6 months of the date on which the first unpaid premium was due and have the policy reinstated. The policy can be reinstated even if a claim has arisen. This provision does not apply if the policy is cancelled by the policyholder(s). After one Month a Declaration of health is required. A client or their legal representatives have the right to pay the unpaid premiums due on the policy within 6 months of the date on which the first unpaid premium was due and have the policy reinstated. The policy can be reinstated even if a claim has arisen. This provision does not apply if the policy is cancelled by the policyholder(s). After Month 3 a Declaration of health is required. A client or their legal representatives have the right to pay the unpaid premiums due on the policy within 12 months of the date on which the first unpaid premium was due and have the policy reinstated. The policy can be reinstated even if a claim has arisen. This provision does not apply if the policy is cancelled by the policyholder(s). After one Month a Declaration of health is required. A client or their legal representatives have the right to pay the unpaid premiums due on the policy within 12 months of the date on which the first unpaid premium was due and have the policy reinstated. The policy can be reinstated even if a claim has arisen. This provision does not apply if the policy is cancelled by the policyholder(s). After one Month a Declaration of health is required. A client or their legal representatives have the right to pay the unpaid premiums due on the policy within 6 months of the date on which the first unpaid premium was due and have the policy reinstated. The policy can be reinstated even if a claim has arisen. This provision does not apply if the policy is cancelled by the policyholder(s). After Month 3 a Declaration of health is required. LC (Rolling Conversion Option) do not offer this benefit do not offer this benefit do not offer this benefit are the only company to offer this benefit. will let you convert your policy to another convertible decreasing assurance plan or equivalent at any stage throughout the term of the current policy without any new medical evidence of health do not offer this benefit do not offer this benefit LC (Temporary Accidental Death Benefit) Provides a lump sum in the event of accidental death prior to policy inception. offer lesser of life cover or 150,000. Cover ceases on earlier of application being accepted or declined and 90 days 8

9 Provides a lump sum in the event of accidental death prior to policy inception. offer lesser of life cover or 150,000. Cover ceases on earlier of application being accepted or declined and 30 days Provides a lump sum in the event of accidental death prior to policy inception. offer lesser of life cover or 150,000. Cover ceases on earlier of application being accepted or declined and 30 days Provides a lump sum in the event of accidental death prior to policy inception. offer a maximum 150,000 lump sum less whole of life continuation, if any. Cover ceases on earlier of application being accepted or declined and 30 days do pay out on the basis of death by accident after the policy is in force, however this benefit is for the short period before a policy goes live. do not offer this temporary benefit at proposal stage. Provided from the time receive the completed application form up until policy goes live. Maximum of 150,000 for a lump sum. Cover ceases on earlier of application being accepted or declined and 30 days. LC (Terminal Illness Benefit) will pay out the specified illness benefit if diagnosed with terminal illness and no longer than 12 months to live. Paid as a Specified illness benefit only if Specified Illness is shown on the Policy Schedule will pay out the life benefit if diagnosed with terminal illness and longer than 12 months remain on policy will pay out the life benefit if diagnosed with terminal illness and longer than 12 months remain on policy will pay out the life benefit if diagnosed with terminal illness and longer than 12 months remain on policy will pay out the life benefit if diagnosed with terminal illness and longer than 12 months remain on policy will pay out the life benefit if diagnosed with terminal illness and longer than 12 months remain on policy LC (Waiver of Premium ) do not offer this benefit do not offer this benefit do not offer this benefit do not offer this benefit do not offer this benefit This benefit provides for the payment of premiums by Zurich if the policyholder is unable to work because of accident or illness for a period longer than 13 weeks. In joint life cases, it only applies to the first life insured, if selected. In dual life cases, it can be selected by each life separately, and in the case of a claim, only the relevant life insured's premium will be waived. Selected before age 59 and ceases age 60 LC Maximum Term Maximum term for is 50 years Maximum term for is 40 years Maximum term for is 50 years Maximum term for is 40 years Maximum term for is 40 years Maximum term for is 40 years 9

10 R (Hospital Cash Cover) Aviva do not offer this benefit do not offer this benefit do not offer this benefit do not provide this benefit do not offer this benefit Requires the client to be hospitalised for more than 72 hours. Maximum days covered is 365. Cover can be between 30 to 300. Max age at entry is 60 &expiry is 65, psychiatric/mental or nervous illness are not covered R (Overseas Treatment Plan) Rider Benefit Overseas Treatment Plan is an additional product feature, provided by Ireland, and in partnership with Best Doctors, which provides the option of treatment abroad. It will pay a pre-determined daily cash amount in the event of diagnosis with a covered condition. The policy will also pay for applicable travel and expenses for the policyholder and a companion. The cost of this additional option, if chosen, is an extra per month. Children are included automatically under Overseas Treatment Plan without any underwriting, whilst a spouse is required to apply for their own cover. Overseas Treatment Plan provides cover for the treatment of serious illnesses - cancer and neurosurgery. These can apply where your client is considering overseas treatment options.those who are covered are; The insured Any child or adopted child, up to age 21 of the insured or their spouse, partner or civil partner, or any child for whom the insured or their spouse, partner or civil partner are the legal guardian. The life insured must be resident in the Republic of Ireland and they must remain resident throughout the term of this policy.the amount of the premium may be reviewed each policy year. Unless changed (increased or decreased) on the policy anniversary, the premium will remain unchanged until the next policy anniversary. The maximum duration for which payment will be made across all claims for a particular life insured is 60 days. If the treatment is to take place in the United States Aviva Life & pensions will pay 30,000 per day for the 1st 7 days and 100 per day up until the 60th day. If the treatment is to take place in Europe will pay 15,000 per day for the 1st 7 days and 100 per day up until the 60th day. do not offer this benefit do not provide this benefit do not provide this benefit do not offer this benefit do not offer this benefit R (Personal Accident Cover) do not offer this benefit do not offer this benefit do not offer this benefit do not provide this benefit do not provide this benefit The amount of the personal accident benefit is equal to the lesser of the personal accident benefit sum insured for that life insured and 50% of the life insured's weekly earnings for each week of temporary disablement to a maximum of 52 weeks. Personal accident benefit ceases on the earlier of the death, recovery and 60th birthday of a life insured. Personal accident benefit will not be paid for the first 14 days of temporary disability Max age entry 55 and max age expiry

11 R (Total Permanent Disability Cover) With, Total and Permanent disability benefit will only apply where an accelerated Mortgage Protection and a Total and Permanent disability benefit are shown on the schedule in respect of which continues in force under the policy until the occurrence of the event giving rise to a valid claim for the benefit. On payment of a Specified Illness Benefit or a Total and Permanent disability benefit the policy will terminate and no further benefits will be payable. The amount of the Total and Permanent disability benefit is the amount as shown on the schedule in respect of Total and Permanent disability benefit. Payment of the Total and Permanent disability benefit is subject to the conditions of Premiums, Territorial limits, Contributory exclusions, Claims requirements, Change of Occupation and Medical Evidence. Where a policy is arranged on a single life basis, a Total and Permanent disability benefit will become payable under the policy if on or after the start date and prior to the cessation date the life insured suffers a Total and Permanent disability and no further benefit will be payable. Where this policy has been arranged on a joint life basis, a Total and Permanent disability benefit will become payable on the first incidence of either of the lives insured suffering a Total and Permanent disability as defined by on or after the start date and prior to the cessation date and then surviving a period of 14 days after the date of diagnosis of the Total and Permanent disability. The policy will terminate on payment of the Total and Permanent disability benefit and no further benefits will be payable. Under the cover, if a client has specified illness benefit and they are deemed to have lost their independent existence after undergoing assessments under the Activities of Daily Living they will receive a benefit of their specified illness benefit. This is an automatic benefit and does not need to be additionally selected if specified illness is chosen Specified Illness must be shown on the policy Schedule. With, The permanent and irreversible loss of the ability to function independently which is defined as follows: 1. Permanent confinement to a wheelchair, or 2. being permanently hospitalised or resident in a nursing home as a result of a medical impairment on the advice of a registered medical practitioner, or 3. being permanently unable to fulfill at least three of the following activities unassisted by another person: The ability to walk 100 metres unaided The ability to get into and out of a vehicle unaided. The ability to put on, take off, secure and unfasten all necessary garments and any braces, artificial limbs or other surgical appliances. The ability to feed oneself once food and drink has been prepared and made available. The ability to wash in the bath or shower (including getting into and out of the bath or shower) such that an adequate level of personal hygiene can be maintained The ability to climb stairs without the assistance of special aids The ability to manage bowel and bladder functions such that an adequate level of personal hygiene can be maintained. 4. or suffer from severe and permanent intellectual impairment which must, a. result from organic disease or trauma, and b. be measured by the use of recognized standardized tests and c. have deteriorated to the extent that requires the need for continual supervision and assistance of another person The diagnosis must be confirmed to the satisfaction of the professional opinion of s Chief Medical Officer and by a consultant physician, neurologist or geriatrician of a major hospital in Ireland or the UK. Even with the best treatment available, the life assured is not expected to recover. The condition must continue for at least six months following diagnosis before the benefit can be claimed. do not offer this benefit Specified Illness benefit must be shown on the policy schedule.the permanent and irreversible loss of the ability to function independently which is defined as follows: (1)Permanent confinement to a wheelchair, or (2)Being permanently hospitalised or resident in a nursing home as a result of a medical impairment on the advice of a registered medical practitioner, or (3)Being permanently unable to fulfil at least three of the following activities listed below without the help of another person, but with the use of appropriate assistive aids and appliances; and the disability is irreversible with no reasonable prospect of there ever being any improvement. washing the ability to wash in the bath or shower (including getting into and out of the bath or shower) such that an adequate level of personal hygiene can be maintained dressing the ability to dress and undress, ability to fasten and unfasten all necessary clothing including any surgical devices worn. 21 transferring the ability to move from a bed to an upright chair, or wheelchair, or to get on or of a commode or toilet. mobility the ability to move from one room to another on a level surface continence the ability to manage bowel and bladder functions such that an adequate level of personal hygiene can be maintained feeding the ability to eat and drink, once food or drink has been prepared and made available. Permanent means that, even with the best treatment available, the life assured is not expected to recover. The condition must continue for at least six months following diagnosis by a Consultant neurologist, physician or geriatrician of a major hospital in Ireland or the UK With this benefit is payable if you or someone covered on your policy becomes permanently, totally and irreversibly unable to perform current working duties. You do not necessarily have to be suffering a serious illness; a significant bodily injury may result in you being in a position where you need to claim Permanent Total Disablement benefit. This option is always paid as an acceleration of the Serious Illness sum insured. Maximum age of entry at 60. Maximum age of cessation is 65. If a client changes their occupation will need to be notified immediately. SIC (Advance Payment of Heart Surgery) do not offer this benefit will pay out 30,000 or 50% of the specified illness sum insured, whichever is the lower in advance of a consultant physician confirming in writing that a life assured needs aortic surgery, coronary artery surgery, heart valve and structural surgery or major organ transplant, and it is confirmed that the life assured is on the official waiting list of the public or private hospital in the UK or Ireland. The specified illness sum assured will be reduced by the amount advanced 11

12 will pay the lesser of 30,000 or the amount of specified illness covered. Covers coronary artery bypass surgery, heart valve replacement or repair do not offer this benefit For major heart surgeries only as per the advanced payment for heart surgery benefit. Up to 20,000 for aorta graft surgery, coronary artery bypass graft surgery, pulmonary artery surgery, heart valve replacement or repair Also detailed in the waiting list benefit but only refers to specific heart surgeries. will pre-pay 50% of the specified illness benefit to a maximum of 30,000 should the life assured be put on a waiting list for any one of the following 4 surgeries; aorta graft surgery, coronary artery bypass surgery, heart structural surgery or heart valve replacement surgery SIC (Children's Partial Specified Illness Cover Payment) will provide the lower of 10,000 or 25% of the specified illness benefit. Max age of child is 21 50% of SIC benefit to a maximum of 7,500. Max age of child is 21 will provide the lower of 7,500 or half of the specified illness benefit for a single life. Max age of child is 25 do not offer this benefit will provide 50% of your specified illness benefit to a maximum of 7,500. Max age of child is 18 or 21 if in full time education. do not offer this benefit SIC (Children's Specified Illness Cover) will provide the lower of 50% of the sum assured or 25,000. Max age of child is 21 will provide the lower of 50% or 20,000 of the sum assured. Excludes loss of independence cover. Max age of child is 21 will provide the lower of 50% or 25,000 of the sum assured. Max age of child is 25 do not offer this benefit will provide the lower of 50% or 25,000 of the sum assured. Max age of child is 18 or 21 if in full time education do not offer this benefit SIC (Maximum Age at Entry Specified Illness Cover) Maximum age at entry for specified illness for is 69 Maximum age at entry for specified illness for is 59 Maximum age at entry for specified illness for is 69 do not offer this benefit Maximum age at entry for specified illness for is 69 Maximum age at entry for specified illness for is 64 SIC (Overseas Surgery) 12

13 do not offer this benefit will pay an additional 7,000 to the specified illness benefit(if chosen), if it is deemed by a medical professional that an immediate surgical operation is required by a life assured (or child between 1 &18 years old) for one of the illnesses specified, which cannot be performed by a hospital in the UK &Ireland. Benefit paid on completion of surgery and is only paid once do not offer this benefit do not offer this benefit do not offer this benefit will pay a benefit of 12,500 if surgery is required as a result of one of the illnesses covered on their list of specified illnesses that cannot be carried out in the UK &Ireland SIC (Partial Specified Illness Cover) will pay 50% of SIC, to a maximum of 20,000. If it is an angioplasty, will pay the lesser of 5,000 or 50% of SIC. will pay the lower of 50% specified illness sum insured or 15,000. With regards to Angioplasty, subject to an overall total payment of 15,000 under this definition. 7,500 on completion of coronary artery angioplasty, atherectomy, rotablation, laser treatment and/or insertion of stent(s) in one coronary artery. An additional 7,500 will be paid if the life assured undergoes a further coronary artery angioplasty, atherectomy, laser treatment or stent insertion provided it is not performed on the same coronary artery or its branches. 15,000 will be paid if the life assured undergoes coronary artery angioplasty, atherectomy, laser treatment or stent insertion in 2 or more coronary arteries, where no previous claim has been made under this definition. varies depending on the illness, with a max payment of 40,000 do not offer this benefit will pay the lower of 15,000 or 50% of SIC benefit. In the case of Coronary Angioplasty (of specified severity) the partial payment will be 50,000 or 50% of the Specified Illness Cover as at the date of the procedure, whichever is lower. will pay 5,000 for a single angioplasty event and a further 45,000 on an angioplasty to a second artery, subject to the overall maximum payment. will pay the lower of 15,000 or 50% of SIC benefit. The amount of the Relevant Angioplasty Benefit payment on a first Single Angioplasty Event will be the lesser of: 50% of the Relevant Serious Illness Sum Insured in force, or 5,000 The amount of the Relevant Angioplasty Benefit payment on a second Single Angioplasty Event on the same Life Insured will be the lesser of: 50% of the Relevant Serious Illness Sum Insured in force, or 95,000 The amount of the Relevant Angioplasty Benefit payment on a Double Angioplasty Event will be the lesser of: 50% of the Relevant Serious Illness Sum Insured in force, or 100,000 SIC (Specified illness Cover Accelerated) Specified illness is available on decreasing assurance with Specified illness is available on decreasing assurance with Specified illness is available on decreasing assurance with do not offer this benefit Specified illness is available on decreasing assurance with Specified illness is available on decreasing assurance with SIC (Surgery Payment) do not offer this benefit do not offer this benefit 13

14 will pay the lesser of 30,000 or the amount of specified illness covered. Advanced payment for a child is 7,500 do not offer this benefit do not offer this benefit do not offer this benefit 14

15 Full Product Feature Analysis: LC (Children's Life Cover) 2,500 5,000 7,000 4,000 5,000 0 LC (Conversion Option) No No Yes Yes No No LC (Dual Life Cover 2nd Event) No Yes No No No No LC (Guaranteed Insurability) Yes No Yes Yes Yes Yes LC (Max Age at Entry Conversion) NA No NA No LC (Max Expiry Age Conversion) NA No NA No LC (Max Expiry Age Life Cover) LC (Max Expiry Age Specified Illness N/A Cover) LC (Maximum Age at Entry Life Cover) LC (Medical 2nd Opinion Service) Yes No Yes No Yes No LC (Minimum Premium) 20 per month 10 per month 13 per month 15 per month 15 per month 10 per month LC (Minimum Term) 2 years 5 years 2 years 5 years 5 years 5 years LC (Optional Flexibility) No No Yes Yes No No LC (Reinstatement) Yes Yes Yes Yes Yes Yes LC (Rolling Conversion Option) No No No Yes No No LC (Temporary Accidental Death Yes Yes Yes Yes No Yes Benefit) LC (Terminal Illness Benefit) Yes Yes Yes Yes Yes Yes LC (Waiver of Premium ) No No No No No Yes LC Maximum Term 50 years 40 years 50 years 40 years 40 years 40 years R (Hospital Cash Cover) No No No No No Yes R (Overseas Treatment Plan) Yes No No No No No R (Personal Accident Cover) No No No No No Yes R (Total Permanent Disability Cover) Yes Yes Yes No Yes Yes SIC (Advance Payment of Heart No Yes Yes No Yes Yes Surgery) SIC (Children's Partial Specified Illness Yes Yes Yes No Yes No Cover Payment) SIC (Children's Specified Illness 25,000 20,000 25,000 N/A 25,000 0 Cover) SIC (Maximum Age at Entry Specified Illness N/A Cover) SIC (Overseas Surgery) No Yes No No No Yes SIC (Partial Specified Illness Cover) Yes Yes Yes No Yes Yes SIC (Specified illness Cover Accelerated) Yes Yes Yes N/A Yes Yes SIC (Surgery Payment) No No Yes N/A No No 15

16 ClearChoice certifies that this report represents the most current information it had available to it as of the above date. Rider benefits have a sign beside them to denote that there is an extra cost incurred if choosing to avail of this product option within a Decreasing Term Assurance contract. Rider benefits are abbreviated with an R in the left hand side column. Specified Illness Cover(SIC), if chosen with Life Cover (LC) on a Decreasing Term Assurance contract, will incur an additional premium to the Life Cover. This can also be known as accelerated/standalone Specified Illness Benefit. Advisor Signature Date Client Signature Date