We compare all Irish insurers and guarantee that all quotations are 100% free. For more information on how your data is used, please see our Privacy Policy. €10 per month coverage based on a Male, age 24, non-smoker, no major health problems, €100,000 in cover.
Life Insurance Ireland Calculator
Life insurance offers protection, in the form of a lump sum payment, if you die. Life insurance is an essential safety net if you are concerned about the financial security of your loved ones and are concerned about providing for them should the worst happen.
However, there are so many options and types of life insurance that it can seem overwhelming to know which is best for you. Here we outline the various types of life insurance and the factors you need to consider in choosing the right policy.
Table of Content
What is life insurance
Life Insurance pays a lump sum to your dependents following your death. Life insurance can be divided into Life Term Insurance (for a specific length of time) and Whole of Life cover (sometimes known as Life Assurance) which is guaranteed to pay out when you die as long as you continue paying premiums.
Life insurance can pay out once on the death of the policyholder (single life),once on the death of the policy holder or their spouse (joint life) or pay out twice on both the death of the policyholder and their spouse (dual life).
Level term cover pays out a set amount for the term of the policy. Decreasing term cover means that the amount paid out decreases over time. Increasing term cover means that the policy pays out more over time to allow for inflation and cost of living increases.
Convertible cover means that you can make changes to your cover during the term of the policy without providing new medical information.
Serious or critical illness cover can be purchased as a stand alone policy or added to a life insurance policy and will pay out a lump sum should you be diagnosed with one of the serious illnesses included in the policy terms.
Life insurance can be used to provide an income for your family, pay off outstanding debt, or pay for funeral expenses or education for your children.
How to calculate life insurance
Life insurance is highly individualised and complex with many factors affecting the premium you pay as well as the protection and benefits that are right for you.
Factors that will affect how much you pay for life insurance include:
Who offers life insurance in Ireland?
How much is life insurance in Ireland?
A quick search will show you that life insurance cover is available from as little as €10 a month. However, the price you pay is completely individual, depending on you, your dependents, and your financial circumstances.
It is essential to carefully consider your unique circumstances and compare like for like in obtaining quotes for life insurance to get the best cover for you.
Example 1: Life Insurance – Joint Life – 31yrs, 32 years, non smokers – term 34 years, €300,000, no serious illness cover.
Example 2: Life Insurance – Dual life – 45 yrs, 46 yrs, non smokers – term 20 years, €400,000, no serious illness cover.
| Insurer | Example 1 | Example 2 |
|---|---|---|
| Zurich | €37.24 | €96.07 |
| Royal London | €41.03 | €114.34 |
| Aviva | €43.41 | €112.45 |
| New Ireland | €43.41 | €129.51 |
| Irish Life | €43.41 | €142.31 |
| Laya | €44.74 | €110.69 |
| VHI | €51.63 | €129.38 |
How much life cover do you need?
The level of cover you need will depend on your unique circumstances, it is best to tailor your cover with these in mind:
Get a life insurance quote today
Life insurance brings peace of mind that you have protection should the worst happen. It is a very complex insurance product and it is best to be guided by an insurance professional when you are choosing what policy would be right for you and your family.
Take our online assessment today, or call us and speak to a qualified financial advisor. We will assist and support you in choosing the right life insurance product for you.
