Term Life Insurance – Friends First
Term Life Insurance from Friends First offers a straight forward tax-free lumps sum payout on death during the policy term. The policies additional benefits that come as standard, include terminal illness – life cover pay-out, guaranteed insurability and free children’s cover. Optional benefits also include specified serious illness cover and the ability to protect your benefits over the longer term, with a continuation option and inflation protection.
If your child dies during the term of your policy, a sum of €5,000 or 10% of the life cover sum insured (whichever is lower) will be paid out. All of your children between the ages of 30 days to 21 are covered under the policy.
If you have added Serious Illness Cover to your policy, children’s Specified Illness Cover of €20,000, or 50% of the specified illness sum (whichever is lower) also applies here.
Accidental Death Benefit
Your insured life cover amount up to a maximum of €150,000 is payable if a life proposed dies from bodily injury as a result of an accident while Friends First is processing your fully completed application form, and within the first 3 months from application receipt.
This option allows you to get 20% additional cover every three years, without providing medical evidence. This option is made available five times, from the third anniversary to the fifteenth anniversary of your policy’s start date and allows you to double your cover over the lifetime of your policy.
However, if the increase is declined more than once when offered, it will not be offered again.
Terminal Illness Benefit
If you are diagnosed with an advanced or rapidly progressing incurable illness where, in the opinions of an attending Consultant and our Chief Medical Officer, your life expectancy is less than 12 months, your full life cover will be paid out.
Optional Added Benefit
Specified Serious Illness Cover
Where you choose to include Serious Illness cover on your life insurance policy, if you are diagnosed with one of 68 specified serious illnesses during the term of your policy, a lump sum will be paid out. 47 full payment illnesses and 21 partial payment illnesses are covered, including the 3 major full payment conditions of cancer, heart attack, and stroke.
Optional Added Features
Where chosen, this option allows you to convert your cover to another policy without having to provide new evidence of health. You can use this option at any point over the course of your policy up to age 65.
Where chosen, Inflation Protection ensures that your cover increases by 3% and your premium increases by 5% each year. This helps to protect the real value of your cover as time passes.