Life Insurance Ireland – Quick Guide
th Sep 2021 |
Normally when people type Life Insurance Ireland into an internet search engine they are searching for the best Irish life insurance plan to protect themselves and their families. They also want the most comprehensive policy at the lowest fixed price, not to mention the convenience of doing it all online. This quick guide explains all your life insurance options in plain easy to understand language together with free discounted market comparative quotes.
Life Insurance Ireland – Policy Benefits
The core benefit of any life insurance policy is obviously a tax-free lump sum pay-out on the death of those covered under the policy, but it’s important to understand that you can have partners or spouses on the same policy and that if you opt for dual cover instead of joint cover, it will pay-out twice if 2 valid death claims occur, but the premium will reduce after the first claim payout. You can also have different life cover levels for each person under a dual cover policy.
In addition to life insurance cover, under fixed-price term life insurance plans, you can also include optional Specified Serious Illness Cover. If choosing to add Serious Illness Cover, then it’s important to note that the cover amount can be less than the life cover amount and that the serious illness cover amounts can also differ on each person under a dual cover policy.
The better policies on the Irish market also include “Children’s Cover” on their parent’s policy as standard.
Life Insurance Ireland – Policy Features
For the best value, most people generally opt for fixed-price term life cover to retirement age based on a multiple of their salary but then include the option of extending their cover into old age at a later date. This policy feature is called a “Continuation Option” and guarantees the same health rates on your new premium if and when you choose to extend the policy term.
Another optional feature is “Inflation Protection”, where you can opt for fixed increases in the premium in return for fixed increases in your cover levels.
The better policies on the Irish market also include “Accidental Death Benefit” which provides life cover before your policy application is fully processed, “Guaranteed Insurability” to allow certain increases in cover free of fresh health underwriting, and “Funeral Expense Cover” which grants immediate payment of funeral costs prior to full claim payout.
Life Insurance Ireland – Premium Discounts
Full-term premium discounts are available on term life insurance plans regardless of the benefits and optional features chosen and our life insurance quote engine will automatically apply these discounts when instantly calculating your policy premium.
Life Insurance Ireland – Online Process
Getting instant life insurance quotes is one thing, but people want a hassle-free process when it comes to completing their application form as well as when receiving their life insurance policy documents. With our fully automated digital process, you can do everything online using your email and digital signatures and we will also email original PDFs of your policy documents, in advance of hard copies issued in the post.
For more information
Contact: Ken O’Gorman – Director – QFA, SIA, MCIBS – Principal Consultant – One Quote Financial Brokers on: 01 845 0049 or email: [email protected]