Plain English, just the facts please!
What is it?
Life insurance (also known as level term life cover) is a type of insurance that pays out a tax-free lump sum on the death of the insured.
e.g. €200,000 life insurance over 20 years
You die within those 20 years, life insurer pays out €200,000 to your estate.
Who needs it?
Those who want to leave a lump sum to their dependents or their estate on death.
This money can be used to help make up for the reduction in income that will occur due to the death of the policyholder.
e.g. policyholder earns €60,000 per year before death, insured for €600,000. This €600,000 paid out on death can be invested to give a replacement income to policyholder’s family.
It can also be used to pay for funeral expenses and to clear any other outstanding debts.
More detail
Please contact us or see the FAQs.
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