Life Insurance Benefits Comparison

Life Insurance Benefits Comparison

We have already discussed the different types of life insurance policies in our recent post: confused about life insurance, this time we are going to examine the added life insurance benefits that automatically come with the top six life insurance companies, term life insurance policies. This will help you to distinguish them on benefits, as well as from a price perspective!

Basic Life Insurance

Of course, the principal of life insurance is the same with all life companies i.e. if a death claim occurs, the life insurance benefit will pay out a tax-free lump sum. But what about the free extra policy benefits? do some life insurance companies offer more benefits than others? Well, the simple answer is yes!

Extra Benefits

So, when comparing life insurance quotes, as well as comparing prices, it makes great sense to also compare the extra benefits included, or excluded, as the case may be.

So let’s now look at the extra benefits available in Ireland on Term Life insurance policies.

These extra benefits may include:
  • Accidental Death Benefit: Life insurance pay-out should a death occur while still at the application stage.
  • Terminal Illness Benefit: Life insurance pay-out on a diagnosis of a terminal illness.
  • Automatic Children’s Life Cover: Life cover of up to 25,000 for children from babies up to a certain age, typically 21.
  • Guaranteed Insurability: Option to increase cover without medical evidence for certain life events e.g. birth of a child.
  • Rolling Conversion Option: Option to extend cover at any stage without evidence of health.
  • Free policyholder Support Services: Such as telephone nurse assistance, second opinion serious illness doctor reports and counseling services.


Life Insurance Company 

Accidental Death Benefit

Automatic Children’s Life CoverTerminal BenefitGuaranteed InsurabilityMissed Payments ReinstatementRolling Conversion OptionPolicy Holder Support Services
Irish LifeYesYesYesYes NoYes****Med Care
New IrelandYesYesYesYes NoYesNo
AvivaYes*NoYesSee Notes  6 MonthsYes**Best Doctors
Zurich LifeYesYesYesYes  3 MonthsYesNo
Royal LondonNoYesYesYes  1 MonthYes***Helping Hand


*Aviva only include automatic children’s cover where optional serious illness benefit is included with the life insurance.

**Aviva is the only insurer offering Best Doctors, which is a free service extended to policyholders own families and their parents.

*** Helping Hand from Royal London provides services such as bereavement counseling.

**** Irish Life, provides a very comprehensive term life insurance policy, with Med Care offering a second medical option service and their rolling conversion option uniquely allows conversion to a whole of life contract, however, you will pay more for these benefits.

Notes: We don’t currently recommend Friends First, due to higher price and no guaranteed insurability. Guaranteed insurability is offered on Aviva Mortgage Protection policies, but not their level term protection policies.


To combine the best price with the best benefits, we, therefore, currently recommend:

  • For Life Insurance only cover: Royal London 0r Zurich Life.
  • For Life Insurance with Serious Illness cover: New Ireland, or Royal London
  • For reducing cover mortgage protection life cover only: Aviva, Royal London, or Zurich.
  • For reducing cover mortgage protection life cover, with Serious Illness: Royal London or Zurich Life

Click quote to get a quote now, or click enquire to let me know how I may help you.

Alternatively, you can give me a call on: 01 845 0049

Ken O’Gorman – QFA | Smart Financial Protection