Confused about the different Life Insurance policies we offer? Here is a simple guide to the 3 main protection policies and what they each cover.
|Comparing Life Insurance:||Term Life Insurance:||Mortgage Protection:||Life Long Insurance:|
|Can you choose the amount of life insurance you take?||Yes, subject to the maximum limits applicable to the plan||Yes, subject to the maximum limits applicable to the plan||Yes, subject to the maximum limits applicable to the plan|
|Is the insurance for a fixed term?||Yes*||Yes*||No, this policy provides whole of life insurance|
|Is it designed to provide a lump sum for my family?||Yes**||Yes**||Yes**|
|Does the amount of cover stay the same during the plan?||Yes, unless you choose indexation, in which case cover will increase in line with inflation each year*||No, cover decreases over time*||Yes, unless you choose indexation, in which case cover will increase in line with inflation each year*|
|Does this plan have a cash in value?||No, this plan does not have a cash in value at any time.||No, this plan does not have a cash in value at any time.||No, this plan does not have a cash in value at any time.|
|Is there a terminal illness benefit?||Yes, there is a limited terminal illness benefit.||Yes, there is a limited terminal illness benefit||Yes, there is a limited terminal illness benefit|
|Can you get joint/dual life insurance?||It is single or dual life.||It is single or joint life.||It is single, dual or joint life|
|Is this suitable to help cover my mortgage?||Yes, especially if it's an interest only mortgage||Yes, Repayment of mortgage or other term loan. not suitable for an interest only mortgage.||This is not the most cost-effective way of covering your mortgage|
|How much does cover cost?||Premiums start from €15 per month||Premiums start from €13 per month||Premiums start from €15 per month|
* Product flexibility may allow for changes to the term of your policy, subject to certain conditions, during the term of your plan.
** Provided the plan has not been assigned or placed in trust for the benefit of an organization or an individual.
These life insurance and protection products are provided by Irish life Assurance plc. Irish Life Assurance plc is regulated by the Central Bank of Ireland.