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Life insurance to suit you
What is the difference between Term Life Insurance and Life Long Insurance, and which is the right one for you?
- Both pay a lump sum to your loved ones when they need it most.
- Choose between cover for your entire life, or for a specified length of time (up to 50 years).
Products are provided by Irish Life Assurance and Advice is provided by Irish Life Financial Services.
Two ways to find peace of mind
Term Life Insurance
A life insurance plan that covers you for a period ("term") of your choosing, from 2 up to 50 years.
- Often a more cost effective option depending on your age and health. The cost of cover remains the same throughout your life (or increases, if you choose indexation).
- You can be covered for up to 50 years, or until the age of 85, and pay for the plan only for the duration of the term.
- Provides a lump sum to your loved ones if you die, which can be used to replace your income and keep your children secure.
Life Long Insurance
A life insurance plan that covers you for the whole duration of your life.
- The cost of the cover remains the same throughout your life (or increases if you choose indexation).
- You will be covered for your entire life into old age and until you die, making regular guaranteed payments for life (unless you choose indexation option).
- Can be suitable for those interested in ensuring lifelong security for their family.
Term Life Cover for a fixed period | Life Long Cover for your full life |
|---|
Features
| Duration | Set period of time | Lifetime |
| Fixed regular payments (if indexation selected) | ||
| Choice between life and/or specified illness cover | ||
| Additional benefits available | ||
| Can be used to pay inheritance tax | ||
| Purpose | Helps cover needs over a set-period | Helps cover long-term needs |
Ready to get started
Resources
Read Irish Life Assurance booklets for more information
Your family can use the lump sum to pay inheritance tax bills, bills or mortgage payments, funeral expenses, or other costs of living.
You are eligible to choose this plan from age 18 to 74.
The cost will depend on your age, your health, options chosen, and the agreed level of cover.
Your payments stay the same unless you choose the inflation protection option, which allows you to increase your cover yearly in line with inflation (to keep in line with the cost of living).
You must keep paying to stay covered.
If you are not using your cover for inheritance tax, your children are automatically included on your plan up to age 25 for €7,000. We will pay one claim per child.
Life Long Insurance Key Features
You can start this plan up to age 82.
You can choose cover for 2 to 50 years.
You can choose to include your partner as part of a dual term life insurance policy.
You can choose just life cover or add on specified illness cover.
The cost will depend on your age, your health, options chosen, the term and agreed level of cover.
Your payments stay the same unless you choose the inflation protection option, which allows you to increase your cover yearly in line with inflation (to keep in line with the cost of living).
You can choose the guaranteed cover again benefit, which allows you to convert to another term life insurance plan or a life long insurance plan, at additional cost.
You must keep paying to stay covered.
Term Life Insurance Key Features
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“Use 60 mins to invest in your life, it’s time well spent on your future.”
- Linda Moran
Financial Advisor Irish Life
Irish Life Financial Services Limited, trading as Irish Life, is regulated by the Central Bank of Ireland. Irish Life Financial Services is an insurance intermediary tied to Irish Life Assurance for life and pensions.