Life insurance
Protection for the people who depend on your income.
Life insurance can give your family the capital it needs to carry on. How much cover that is follows from your obligations, your goals and the resources you already have.
Why it matters
Behind an income sit obligations, people and plans.
An income can support a family’s everyday life, a mortgage, children’s studies and long-term financial goals. Life insurance can provide capital so those obligations can still be met.
20+ yrs
Income has long-term financial value.
A net income of €1,500 a month adds up to €360,000 over 20 years, before any change in income. An illustrative example. How much of that needs replacing is one of the things we weigh when designing cover.
The home
Financial obligations continue.
An outstanding mortgage balance, or other significant obligations, can be taken into account when calculating the sum insured.
The goals
Long-term goals have a financial value.
Studies, family needs and other future goals can be factored in when the right sum insured is designed.
Peace of mind for the people who matter to you.
Calculating cover
How is the sum insured calculated?
We don’t start from an arbitrary figure. We look at your financial obligations, the income that needs replacing, family goals, and the resources you already have.
Financial needs
- Outstanding mortgage€120,000The balance of significant loan obligations.
- Income replacement€150,000An indicative replacement of part of the family income, for a specific period.
- Children’s studies€60,000An indicative sum for future education needs.
- Other financial obligations€25,000Other costs and outstanding obligations that may arise.
Less existing resources
- Savings€40,000
- Existing investment plans€50,000
An illustrative example for understanding purposes. The right sum insured differs for each case and depends, among other things, on financial obligations, income, existing assets, savings and other insurance cover.
The covers
Different needs, different covers.
The right structure depends on what you want to cover, for how long, and with what budget.
- Term life insuranceCover for a specific period, which can be used for needs such as income replacement, family obligations, or the length of a loan.
- Long-term / whole-of-life coverLonger-duration cover for cases where the insurance need isn’t limited to a specific time horizon, according to the structure and terms of the particular programme.
- Mortgage protectionCover designed in relation to the obligations of a mortgage, so as to limit the financial burden that could be passed on to the family.
- Income protection & disabilityDepending on the programme, a financial benefit may be provided in the event of covered incapacity to work due to illness or accident.
- Critical illnessDepending on the cover, a lump-sum benefit may be provided on diagnosis of a specific covered serious illness, according to the policy’s terms.
- Savings-linked life plansProgrammes that can combine insurance cover with the systematic creation of capital for long-term goals, depending on the product’s structure.
How we help
From the need to the right cover.
- 01.
We calculate the real need
We record your financial obligations, the income that needs protecting, your family goals, and the resources or cover you already have.
- 02.
We design the cover
We look at the right combination of covers, sum insured and cost, based on your needs and available budget.
- 03.
We set the beneficiaries
We discuss how beneficiaries are defined and how the cover is structured, so the policy matches your intentions.
- 04.
We review at life changes
Cover may need reviewing when your income, family obligations, loans or other significant circumstances change.
A long-term relationship
The right cover isn’t designed once.
As your income, family, assets and obligations change, your insurance need can change too. That’s why cover is worth reviewing along the way.
Life insurance is one part of your overall financial picture.
See our overall approachFAQ
Good to know.
Do I need life insurance if I have no children?
The need doesn’t depend only on whether you have children. It can exist when a partner, parents, other people, or financial obligations depend on your income. If there’s no need for life cover, other covers may be more relevant, such as income protection or incapacity to work.
Term or whole-of-life?
It depends on the duration and type of need. Term cover applies to a specific time horizon, while a long-term or whole-of-life solution may be considered when the insurance need has a longer duration. The right choice depends on the goal, the sum insured, the budget and the programme’s terms.
Are pre-existing conditions covered?
The ability to obtain cover and its terms depend on your medical history, the risk assessment, and the terms of the particular programme. These are reviewed before the policy is issued.
What about my group cover from work?
A group programme can be a valuable benefit, but it’s tied to the terms of that particular group contract and usually to your employment. We take it into account alongside your other cover to assess whether there’s an additional insurance need.
How much sum insured do I need?
There’s no single right amount for everyone. We look at your financial obligations, the income that needs replacing, your family goals, and the resources or insurance cover you already have.
How much does life insurance cost?
The cost depends on factors such as age, the sum insured, the duration, the covers selected, and the insurance risk assessment. The final pricing comes from the specific programme and the insurance assessment.
Life insurance
Let’s work out the cover that fits your situation.
We start from your financial obligations, the people who depend on you, and the cover you already have.