Life assurance products are designed to pay a lump sum benefit on death.
The main reasons people take out life assurance products are;
1. to ensure that dependents are financially secure in the event of death;
2. to cover borrowings such as a mortgage.
How much cover do I require?
Cover requirements will depend on your personal circumstances – whether you are single, married, working, retired or have dependents that rely on you/your income.
What type of cover do I require?
There are many different types of life assurance available and again, the product most suitable to you will depend on your individual circumstances.
Personal accident cover can provide you with a weekly income for up to one year if you suffer a permanent disability or are unable to work because of an accident.
Several insurance providers offer hospital cover of between €50 and €350 per day while you are an inpatient in hospital.
Broken bones cover offers you a set tax free lump sum should you break a bone.