OVER 50’S LIFE COVER
This cover is relatively new to the Irish Market. It is designed for customers who are over 50 years of age and has absolutely no medical underwriting. This means you are fully covered on any pre existing conditions, however you are not fully covered until the policy is in force for 2 full years. If a claim is needed before the 2 years only premiums paid into the policy will be paid back. Whole Of Life Assurance
This type of policy is a guaranteed pay out once the policy premium is paid for the life of the policy. These policies can be quite expensive but can also be more cost effective for an older client who may be interested in Over 50’s cover. There is full medical underwriting for anyone applying for this cover.
TERM INSURANCE WITH A PARTIAL WHOLE OF LIFE PAYMENT
Although slightly more expensive than a normal term policy it does have a guaranteed death benefit so the client always benefits from taking out the policy. The policy covers the amount your require for the term you need and then depending on the cover will keep on a smaller amount of life cover, max €50,000, without any further payment until death.