Whole of Life Insurance

Whole of Life Insurance

Ensure financial security for your whole life.

We compare Life Insurance from every provider in Ireland to give you the best price, guaranteed.

Get your Life Insurance Quick Quote Comparison today to avail of additional discounts.

Whole of Life Insurance

Whole of life insurance is an insurance policy that lasts for your lifetime, and is not limited to a term. When you pass away the policy will pay a lump sum payment to your family or dependents. It will also pay out immediately if you are diagnosed with a Terminal Illness. When you pass away, your family may also be liable for inheritance tax on your home and assets. This can be a huge burden to be left with, forcing them to borrow or sell part of their inheritance to cover their tax bill.

A Section 72 Whole of Life Insurance policy removes this burden and protects your loved ones from a large inheritance tax bill. Our Whole of Life Insurance has a Guaranteed Premium. Meaning your monthly payments will never change.

Why Choose Whole of Life Insurance?

There are several reasons why individuals might opt for whole of life insurance over other types of policies:

  1. Lifetime Coverage: The most significant benefit is that it provides coverage for your entire life, ensuring that your beneficiaries will receive a payout regardless of when you pass away.
  2. Guaranteed Payout: Unlike term policies that may expire before your death, whole of life insurance guarantees a payout, offering peace of mind.
  3. Fixed Premiums: Many whole of life policies come with fixed premiums that do not increase as you age, making it easier to manage long-term financial planning.
  4. Cash Value Accumulation: Whole of life policies often include a savings component, accumulating cash value over time that you can borrow against or use for future financial needs.

Main Benefits of Whole Of Life Insurance

  • Ensures financial protection for your loved ones throughout your life

  • Helps cover inheritance tax liabilities, ensuring more of your estate for your heirs

  • Builds cash value over time, useful for borrowing, emergencies, or retirement funding

  • Locks in premium rates, protecting against rising life insurance costs

  • Can be tailored with additional riders or benefits to enhance coverage

  • Quote, Apply, Sign, Online

Differences Between Whole of Life and Term Life Insurance

  • Duration: Whole of life insurance covers you for your entire life, while term life insurance only covers a specific period (e.g., 10, 20, or 30 years).
  • Premiums: Whole of life insurance generally has higher premiums due to the lifetime coverage and cash value component. Term life insurance premiums are typically lower but increase significantly if you renew after the term ends.
  • Cash Value: Whole of life insurance includes a savings element that builds cash value over time, which is not available in term life policies.
  • Guaranteed Payout: Whole of life insurance guarantees a payout whenever the policyholder dies, while term insurance only pays out if the policyholder dies within the specified term.

Google Reviews

LowQuotes.ie
4.9
Based on 1145 reviews
Michael F.
Michael F.
Bernadine Day was brilliant to deal with, she made the whole process so much easier. I would 100% recommend dealing with her to anyone. She was professional, friendly and had an absolute wealth of knowledge and guidance for every phase of the process.
David M.
David M.
I had the pleasure of working with Courtney for my mortgage protection cover, and I couldn't be happier with the experience. She was incredibly professional, helpful, and super efficient in handling everything. Highly recommend Lowquotes to anyone in need of mortgage protection cover.
Joan C.
Joan C.
Really friendly and knowledgeable people, made the business of understanding health insurance easy, it's pretty complicated trying to do this yourself. I felt our needs were listened too and the best policy for us was explained very well, together with alternative options if we wanted. Super priced policies.
John D Campbell Painting & D.
John D Campbell Painting & D.
Very helpful
emma H.
emma H.
Ross was extremely helpful and accommodating to deal with. Arranged calls with both my partner and I with times that suited us. Very thorough and explained everything to us. Will be recommending to others.
Natalie S.
Natalie S.
Claire was amazing, friendly and professional from start to finish, with no pressure to buy. She provided information on all of the products so we understand exactly what is covered. The cover is now much more appropriate for what we need with a bit of a saving. Everything was dealt with efficiently and effectively and I have a lot more peace of mind.
Vipula T.
Vipula T.
Great help provided
Jason D.
Jason D.
Very detailed explanation and quotation
stephen S.
stephen S.
Excellent customer service by Seamus. Real gentleman and spent a lot of time helping and supporting my request.Highly rate Seamus!
Arunkumar R
Arunkumar R
I got Lowquotes.ie recommended by one of my friend for the mortgage protection. It was a great and smooth experience to deal with. I worked with advisor Richie during the process he explained everything in detail and also what i would be expecting and helped me to choose the right product based on our need. I would be always happy to work with them for all the future needs. Thanks again for the great work and keep up your great work Richie.
Regulo Antonio S.
Regulo Antonio S.
A huge thanks to Seamus Phelan for being super friendly and incredibly helpful throughout the process of getting mortgage protection insurance. He patiently guided me through everything and made sure I understood all the options before making any decisions. If you need life or mortgage protection insurance, I highly recommend reaching out to Seamus.
Olamide O.
Olamide O.
We highly recommend Bernadine Day of Mortgage Assist. Over the past two years, she has been incredibly patient and dedicated, guiding us through the mortgage process with expertise and care. Her professionalism and genuine concern for my financial well-being made a complex journey manageable. If you need a mortgage adviser who will go above and beyond, Mortgage Assist is the one to choose & Bernadine will get you sorted.
Katherine M.
Katherine M.
I dealt with Richard when trying to source mortgage protection, he was very patient and lovely to deal with over the phone very helpful. Highly recommend
Avril G.
Avril G.
CORMAC WAS VERY HELPFUL AND INFORMATIVE WITH THE INFORMATION AND PACKAGES TO SUIT MY NEEDS. HE WAS BOTH HELPFUL, POLITE AND VERY PATIENT AT ALL TIMES. I WOULD RECOMMEND CORMAC FROM LOW QUOTES TO ANYONE WHO NEEDS THE CORRECT INFORMATION/PACKAGE REGARDING THEIR LIFE INSURANCE OR ANY OTHER FINANCIAL ADVICE.
Daniel B.
Daniel B.
Cormac logue was a gentleman on the phone explaining everything perfectly and couldn't be more helpful
Lorna L.
Lorna L.
Absolutely incredible support from Cormac in LowQuotes.ie who helped me get insurance cover in place. It was my first time using this company and I will definitely be using them again in future. Cormac did everything from checking with underwriters to calling me when he said he would and gave me great peace of mind that I had the correct cover in place. He also knew that there was some urgency in getting my cover in place so he treated it with the highest of priorities. I am extremely impressed and a very happy customer.
Oisín B.
Oisín B.
Cormac Logue was very helpful with selecting the right mortgage provider for us
Patrick T.
Patrick T.
Great company to deal with. A special thanks to Colin Bailey for all his help in quickly sorting our life assurance. Colin was very friendly and extremely helpful in explaining all our options and organised cover in a matter of minutes over the phone. He took all the hassle out of arranging cover. Would highly recommend Colin and Low Quotes to anyone.
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Your Questions Answered

When you’re taking out a Whole of Life insurance plan, you choose the amount you want to be paid out on death.

You will then pay a set amount per month until you pass away. The policy then pays out a lump sum to your family. This premium never increases.

  • It pays a cash lump sum that could go towards covering any inheritance tax your family is liable for when you pass away. 
  • Your loved ones are financially protected when you pass away. 
  • You can choose optional benefits on top of your Whole of Life Insurance for added peace of mind.
  • It can be used to cover your funeral expenses no matter what happens.

If for any reason your circumstances change over time, such as no longer being able to afford your Whole of Life Insurance, or inheritance tax no longer being a concern.. You might decide to stop paying your premium before you die. Which normally means you get nothing back.

With a savings option – Provided you’ve had your policy for 15 years and consistently paid it, you are guaranteed money back if you cancel or stop paying your policy.

This option costs an extra 10% on your premium and must be included when you take out your policy – It cannot be added at a later date.

Your options are – Receive a reduced lump sum on death, or you can take an immediate cash payment.

Inheritance tax is a tax paid to Revenue when someone inherits either money, property or other assets such as land following a death. The recipient of the asset is the person responsible for paying the tax amount of 33%.

Surviving wives, husbands and legal civil partners do not fall under this category. They do not have to pay inheritance tax.

You can use your Whole of Life policy to help offset any inheritance tax liability.

Remember, we can always answer any questions you have regarding Inheritance tax and Whole of Life Insurance.

Starting at 18 years old, you can take out a Whole of Life insurance policy up to the age of 75.

Historical illness reviews by leading medical consultants are available. Also applies to future illnesses.

Please note that ALL nicotine replacement products, including vaping, are now classed as “Smokers”. 

The premium for your whole of life insurance will be affected accordingly.

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Coronavirus Covid 19 Information

We would like to assure our customers that although this Worldwide Pandemic has struck our Nation hard, we are still here for our new and existing customers. All phone calls and emails will be dealt with accordingly.

In the unfortunate circumstance that a customer contracts COVID-19 and dies, our life policies would pay out in line with our usual claims philosophy.

All Consultations will be held by Phone or Online via Computer/Smart Device to remove face-to-face interactions and keeping in line with social distancing guidelines recommended by the Government.

We at Lowquotes.ie hope you, your family and your loved ones stay safe & healthy in this time.