27th April 2015
CHEAP LIFE INSURANCE
As a proud Paddy I always thought Irish people had loads of great traits like friendliness and socialising not to mention that raw emotion that you see in full flow at Croke Park on All Ireland day or in the Aviva for a 6 Nations game or vital World Cup qualifier not to mention when Sonia or Dervilla were powering down the track at a major athletics final….alas this emotion certainly doesn't enter the equation when it comes to life insurance.
60% of Irish people have no life insurance yet 60% have home insurance and 76% car insurance.
Home and Car insurance are both very important but what is more important than one’s loved ones particularly when the cost of getting such cover is low and likely to stay that way as Irish life companies, banks and brokers fight for a share of one market that will always be there regardless of what the Dow Jones or Hang Seng does.
If you distil life insurance to its simplest form..’ Life cover pays out a tax free lump sum of money if the individual insured dies within a certain time period ‘ and couple it with the invaluable uses it has particularly for a family , why are people so reluctant to take it out.
Best to give a simple example: A couple aged 30 have no life cover and two young kids. Unfortunately one of the partners is run over by a bus and bids adieu to this planet.
They had mortgage protection life insurance so that has cleared the mortgage loan on their house so happy days. The unhappy days are the ones for the surviving partner who now has to raise two young kids on their own which could mean paying for that expensive childcare while they worked not to mention education fees , child minding fees , summer camp fees , school excursion fees , third level fees etc .
Had this couple taken out cheap life cover with us at Low.ie for example – for just €15.15 per month (€2.15 more than the cost of complete iphone monthly gadget insurance) they would each have got cover of €150,000 on their own life for 40 years!
That €150,000 would cover a lot of costs plus God Forbid.. if another bus happened to run over the surviving partner – the kids would at least have a further €150,000 to help them through life as both partners had a dual life policy which gave each of them €150,000 in cover.
Nor does cheap life insurance simply some sort of policy with a dodgy or unstable life company as ‘cheap’ has other connotations apart from low cost such as inferior quality etc.
All the life companies operating in the Irish market are financially very strong e.g. Aviva , Royal London, Irish Life, Zurich and Friends First are all either A rated or AA rated by Standard & Poors.[/gray_box]
In short Irish consumers can sleep soundly knowing that if the unforeseen does happen their life cover claim will be paid to the benefit of their loved ones and dependents. For those canny consumers who take out cheap life insurance when they are young they get even sweet dreams too! So the moral of the story is simple ….life insurance should be top of everyone’s financial list and the ‘i’ you need to insure is not your iphone! If you want a quick cheap life insurance quote: Click Here
