Over 50s Life Insurance

Single Cover –
Only one person is covered under the policy. If this person dies within the term of the policy – The cover amount will be paid to the policy holders estate.

Dual Cover –
Only one person is covered under the policy. If this person dies within the term of the policy – The cover amount will be paid to the policy holders estate.

Joint Cover –
Two people are covered under the one policy. But only pays out on one death. For example “Joint Life, First death” will pay out when the first person dies, and nothing when the second person dies. We advise against this type of cover, as Dual cover costs the same and pays out your cover amount twice rather than once, essentially doubling your cover free of charge. Call our advisors if you currently have a Joint cover policy in place and wish to replace it with a Dual cover policy.

Without the ‘Savings Option’ – Your policy is designed to pay out when you die. But if you stop paying your monthly premiums, your policy will end and you get no pay-out.

Our ‘Savings’ option costs an additional 10% on your policy. If you stop paying premiums, because you can’t keep up with the monthly payments; Once you have paid consistently for 15 years – Once your policy ends, You can either choose to receive an agreed lump sum payment immediately, or a reduced amount in the event of your death. It will be required to speak to one of our Financial Advisors to add this on your policy.

Selecting indexation on your policy will help to protect your cover against inflation.

Inflation can negatively effect the buying power of the amount you have paid in over a long period of time. Meaning, the amount of cover that was suitable when you took out the policy, may in the future not meet your family’s needs upon the event of your death.

For example – With only a 3% inflation rate – €500,000 after only 10 years is worth just €372,000. Remember, the money paid out would still be €500,000 – only worth less.

Absolutely. Terminal Illness Cover on your policy means that if during the lifetime of your policy you’re diagnosed with a terminal illness, the full amount of cover taken out will be payable immediately. To qualify for immediate payment, the illness either has to have no cure or has progressed to the point of being un-cureable and will lead to death within 12 months.

The factors that will determine how much cover you can afford to take out are: Your age, If you smoke or use nicotine replacement products, and how much you want to pay-in to your policy monthly.

Your general health, height/weight, if you’ve smoked within the last 12 months and the result of your health application will affect the final cost of your policy. We will give you a general quote first to give you an idea of the cost. Quotes provided online are for applicants in perfect health.