If you’re looking to take out Life Insurance in Ireland, but don’t want to spend a fortune, here are some tips worth reading
How can I save money on my Life Insurance policy?
Don’t go directly to one insurer
Don’t buy directly off the bank
Contact a broker like Citywide who deals with all of the insurers on the market.
Brokers will discount their premiums by up to 20% which immediately makes them a more attractive option than going to the bank or directly to one insurer.
How can I get a discount on my Mortgage Protection premium?
We also offer discounts on our mortgage protection policies up to a maximum of 17.5%. As with the life assurance we deal with all of the insurers on the market so can get you a policy that best suits your needs and at the right price. We have an agency with Aviva, Royal London, Zurich, New Ireland and Irish Life
Is there any other way to keep the cost of my Life policy down apart from through discounts?
There are a few ways you can reduce down the cost of your life cover
1 Give Up Smoking.
A non smoker will pay roughly half the price that smokers pay. You are considered a smoker if you vape/ use nicotine gum and smoke only on ad hoc occasions.
2 Reduce The Term Of Your Cover.
It is better to have some cover in place as opposed to no cover, so if price is an issue, then taking a policy out with a shortened term with a conversion option ( option to extend the policy at the end) is worth doing. It’s important to note that the policy will be more expensive once it’s converted at the end of the term.
3 Review your loaded policy
If the insurance company placed a loading on your original premium, ask your broker to do a review for you. A few years may have lapsed since the loading was applied and you might not have that particular health issue anymore.
Using a broker like www.citywidefinancial.ie ensures that you get great service and price as well. If you’re looking for a quote, or would like us to review your existing policy, get in touch on 01 513 9810 – info@citywidefinancial.ie
