We all want to safeguard what matters most to us – our family
Life Assurance from Friends First can help your family members cope financially if you are no longer around.
Why you need Life Assurance?
When you die, life goes on for your family. They will still need to pay the mortgage, bills and loans. If they are relying on the State Widow/Widower’s Contributory Pension, you have to ask yourself: will they have enough to live comfortably?
Life assurance will pay your dependents a lump sum if you die. This will help them to settle any debts, pay off the mortgage or keep living the kind of lifestyle you want for them.
Try our risk check calculator to see what the chances are of your family needing to benefit from your life assurance policy.
How it works
Anyone between the ages of 18 and 80 can apply for a life assurance policy. Even if you have an existing medical condition, we will still review your case and make our decision based on the current state of your health.
Decide how long you want to be insured for
This usually depends on your life circumstances:
- Term cover: for a length of time you choose (from 5 years to 40 years)
- Mortgage protection cover: for the length of your mortgage
- Whole of life cover: for the rest of your life
Decide how much you want the policy to pay out
You can choose the size of the lump sum that will be paid to your dependents if you die.
Decide who is covered under the policy
Will it just be you (single cover) or will your partner/spouse also be covered (joint or dual cover)?
Dual cover is a life assurance policy that pays out on the death of both people named on the policy.
A joint policy only pays out on the first death.
Decide whether you want your policy index-linked
This means that both your monthly payments and any money we pay out on your policy will keep up with the rising cost of living.
Choose your plan
Your Financial Broker will take you through all of the above decisions, can recommend the best cover to suit you and your family, and help you to put this plan in place.
Making a Claim
If you die during the term of your life assurance policy, our experienced Claims team will make sure your family gets the money quickly and efficiently.
What it costs
How much you pay each month depends on:
- Your age
- Your health status
- Whether you are a smoker
- The type and length of life assurance plan you want
- The amount of money you would like to be paid to your family if you die
Tom is a 35-year-old non-smoker. He takes out €300,000 worth of life cover over a 20-year term, by which time his children will have left school.
This cover costs just €22.45 per month (based on standard rates), which works out at roughly 74 cent a day. *
*quote supplied on 17/06/2016
Each life assurance plan comes with a range of added benefits. Here are some:
- Once you apply for Life Assurance, we offer free accidental death cover until your policy is in place
- We automatically cover your children (under 21) for €5,000 life assurance for as long as you are covered
- If you are diagnosed with a terminal illness, you get your lump sum immediately, so you and your family won’t have to worry about money
- Most of our life assurance plans don’t require a medical assessment but if they do, a nurse can visit you at home or in your workplace to complete any required. This should just take about 20 minutes
- Hospital cash benefit: If you have to spend time in hospital, we pay you a sum of money per day