Life Insurance Ireland
Looking for affordable life insurance? Whether you’re thinking about your family’s future or safeguarding your income, we’re here to help you find a plan that fits just right. Knowing your loved ones are protected from life’s uncertainties can give you incredible peace of mind. Life insurance helps you plan for the unexpected and provides reassurance that your family will be financially supported, whether it’s your passing or a diagnosis of a serious illness.
Finding the perfect policy is a big decision, but don’t worry, we’re here to make it easy! There are many types of life insurance available, such as Whole of Life, Term Life, Mortgage Protection, Income Protection and Serious Illness Cover. No matter what your priorities are, we’ll help you choose the coverage that works best for you. Get an online quote now using our comparison engine, or request a callback at a time that’s convenient for you!
What Does Life Insurance Cover?
Life insurance is here to protect you and your loved ones when life throws the unexpected your way. While it’s not something you’re legally required to have, it provides peace of mind by offering financial support if you become seriously ill or pass away.
Think about it, if something were to happen to you, would your family be able to manage financially? Life insurance acts as a safety net, stepping in to support your loved ones during challenging times. It helps cover expenses, maintain their lifestyle, and keep things on track. There are also other types of coverage you might consider, such as income and mortgage protection.
Ultimately, life insurance is about creating a sense of security for the people who matter most to you. Whether it’s for your family or your business, the right plan ensures they’re looked after if the unexpected happens.
Different Types of Life Insurance
Choosing the right life insurance might seem like a big task, but don’t worry, we’re here to make it simple and stress-free. Whether you’re looking to protect your loved ones, secure your income, or safeguard your business, there’s a plan that’s just right for you.
Life insurance comes in a few main types: term life insurance, whole-of-life insurance, serious illness cover, mortgage protection, and income protection. Let’s break it down:
- Term Life Insurance: Covers you for a specific period, like 10 or 30 years.
- Whole of Life Insurance: Offers lifelong coverage, ensuring a payout when it’s needed.
- Serious Illness Cover: Provides financial support if you’re diagnosed with a serious illness covered by the policy.
- Mortgage Protection: This is specifically designed to pay off your mortgage if something happens to you.
- Income Protection: Replaces a portion of your income if you can’t work due to illness or injury.
Your priorities might be protecting your family, your income, your home, or maybe all of the above! Whatever you need, there’s a plan for you.
Once you’ve got an idea of what fits best, you can use our life cover quote engine to see how much it might cost.
For more on how life insurance works, visit the Competition and Consumer Protection Commission (CCPC).
Frequently Asked Questions
Do I need life insurance in Ireland?
If someone depends on your income, whether it’s a parent, child, or elderly relative, then you should consider life cover. Life Insurance is a reliable way to protect your loved ones.
Are protection insurance policies worth purchasing?
Life Insurance provides your family with financial support when they need it most. It can help pay for your funeral, clear debts, and allow them to continue living life without financial stress. Life Insurance provides money exactly when your family needs it most.
When will my life insurance policy become active?
You’re covered as soon as the insurer issues your policy. There is no waiting period.
How does life insurance pay out in Ireland?
You have two payout options. A single, tax-free lump sum or monthly instalments, which is a steady income replacement. Many prefer staggered payments to mimic a regular income, but the choice is yours!
When would life insurance pay out?
It’s straightforward: the insurer pays out once a death certificate is issued.
When does life insurance not pay out?
Here are the main reasons an insurer might not pay:
- You provided false information on your application
- You didn’t disclose crucial details such as smoking, a serious health condition, etc
- You stopped paying your premiums
- You cancelled the policy
How much life insurance protection do I need?
This depends on your situation. Some people go with €200,000, others go with €300,000; it really depends on your circumstances. It’s all about protecting your loved ones, so take some time to figure out what’s right for you.
What happens to the life insurance money if I die?
The money goes to the person (or people) you’ve named in your will. To make things easier, it’s a good idea to put your policy in trust. A trust is a legal document that ensures the payout goes directly to someone you choose, like your spouse, partner, or kids. If you don’t have a will or haven’t set up a trust, the payout will become part of your estate.
Unsure which protection policy to choose? No worries, request a call back today, and we’ll be happy to go through the details with you!
Compare Insurance Ireland is 100% Irish-owned and regulated by the Central Bank of Ireland. As members of Brokers Ireland, our team helps customers find trusted life insurance policies from reputable Irish insurers.