The aim:

  • Peace of mind
  • you never know what lies ahead, or what life will throw at you next. This type of plan gives you peace of mind that if you die your family will not struggle financially.

What should be covered:

  • You need enough to pay off mortgage
  • pay off loans and bills
  • cover the income your family will need to live on

How much do I pay:

The quote is dictated by your age, whether you smoke or not, the general state of your health, the amount of cover you want and how many years you require the cover for. The price won’t change over the lifetime of the plan.

*If indexation is chosen benefits and premiums may be adjusted by means of a price index in line with inflation.

Difference between Life insurance and Mortgage protection:

A level term life insurance policy covers a certain amount for a certain number of years.eg:

200k Life insurance for a couple over 20 years:

If this is a life insurance policy the cover will stay at 200k for the period of 20 years and if it’s a couple on the policy both lives are covered and there can be 2 pay-outs.

If this is a mortgage protection the policy cover will decrease every year and there is also only one pay-out, so if one person dies there is one payout and the policy ceases.

Mail darragh.farrell@yes.ie with any queries