If you require any further information or have other questions that are not listed below you can chat to one of our representatives live online. Click on the ‘Chat Now’ tab on the bottom of the screen to begin a live chat.
How much cover?
How much cover you need can vary quite significantly from one person to another. The objective of Life Cover is usually to replace an income to protect your family in the event of death. The size of that income would help you to determine how much cover you need.
How long do I need the cover for?
If you require the policy to cover an “Interest Only” mortgage, then you will need the cover for the remaining term of the policy. If you require the policy for family protection, then you should have cover until your youngest child is expected to be independent. With children going to university, this can often mean a term of 25 years.
What type of Cover?
There are various different options available to you within a life insurance policy. These include, Conversion Option, Indexation, and Dual Life Cover etc. All of these different options are explained in detail in our Life Insurance Section and should help you decide what cover is best for you.
When do I need to have the Mortgage Protection Plan in place?
For new mortgages your lender will require the original policy document approximately 1 week before they draw down on the cheque.
What if I need the cover in a hurry?
If you need the cover in a hurry, we suggest that you scan and email the application form/declaration and any other questionnaires requested. This will speed up any decision from the insurance company. Please also post the declarations to us, we would suggest you use swift post to ensure next day delivery. When returning your application you should mark your application “Urgent”. You can also Contact us.
How do I apply?
- Firstly you need to obtain a quotation online – click Get a Quote Mortgage Protection
- Enter your details and click “Get me a Quote”
- You will be offered the lowest quote available to you. If you are happy with the quotation, click “Proceed”.
- Leave the rest to us!
I am replacing an existing policy, when should I cancel this?
You should not cancel your existing policy, until your new policy is in force. Please note if you are replacing an existing policy, either completely or partially, you must make sure that this new policy meets your needs and that you are aware of the financial consequences of replacing your existing policy.
What if I need help with the application form?
You can email us at [email protected] or call us on 01-9017760. You can also contact us via our Live Chat option. We will be happy to help in any way we can.
How will I know what stage my application is at?
We will email you within 24 hours of receiving your application and regularly afterwards to keep you up to date on where your application is at. You can also contact us at any time for an update.
How long before I am on cover?
Usually it will take 5-7 working days from when we receive the original fully completed application form & declaration. Some applications may be accepted on the same day! Existing health conditions may delay the process, for example if you have High Blood Pressure, the insurance company may contact your doctor for a medical report.
Will I need to do a medical?
Maybe! More often than not, the insurance provider will not require you to attend a medical, but in some instances they will. This is usually dependant on the level of cover that you are looking for and your age. If you have an existing medical condition the insurance company may look for a report from your GP, or they may ask you to attend for a medical. There will be no cost to you for the medical.
Can I claim tax relief on my Life Cover Plan?
No. You cannot claim tax relief on this Life Cover plan.
When will I receive my Policy Documents?
Once the policy is accepted by the Insurance Company, you can confirm to us when you want the policy to start. Once received we will send you the original documents in the post. This typically takes 2-3 days. We can also email a copy of the documentation to you, if you wish.
What if I change my mind?
When you receive your policy documents, you are entitled to a 30 day cooling off period. This allows you to cancel your policy and you will receive a full refund of any premiums paid.
Will my premiums increase?
Your premiums will only increase if you choose Indexation. Indexation increases your premiums and benefits each year to keep your benefits in line with inflation. This is an optional extra and you can choose to include this in your plan.
How can Low.ie offer such low quotations?
Low.ie is committed to providing low cost life cover. The same cover at a lower price. We do this by discounting your premium from day one throughout the full term of your policy.
Is the discount only for year 1?
No! Unlike other discount brokers, the premium that we quote you is discounted throughout the term of your policy. This can amount to thousands of euro in savings over the course of your policy.
Can I cancel my policy?
Yes. You can cancel your policy at any time. If you stop paying premiums, you policy will lapse and your cover will cease. There is no cash value at the end of this plan. Please note if your policy is to cover your mortgage, then you will need to get the mortgage providers permission to cancel the policy.