New Ireland Assurance Company plc

Life Insurance in Ireland: New Ireland

New Ireland has provided insurance to the Irish public since 1918 and was the first wholly Irish-owned company to conduct business in Ireland. New Ireland also paid 96.9% of all Life, and Serious Illness Claims in 2020.

New Ireland is one of the life insurance companies in Ireland that provides Insurance to its customers through its Life Choice range of products, which allows you to set up your policy to pay your family a lump sum, monthly income, or both.

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What Makes New Ireland’s Life Insurance Different?

New Ireland focuses on product design and development for their customers.

LifeChoice:

Insurance that allows you to choose a payout of a lump sum or monthly income and an option to insure a long-term whole-of-life sum with term life insurance in Ireland.

Children’s Cover:

An amount of €4,000 is payable on the death of a child during your life insurance policy in Ireland, including legally adopted children, up to the age of 21 in full-time education.

Life Events Benefit:

You can increase the lump sum amount by the lower of €100,000 and 50% without having to provide evidence of health:

  • Within three months of increasing your mortgage because you’ve moved house
  • If you get married
  • If you have a child

You can use this option until you’re 55, and the maximum increase is the lower of 100% of the lump sum amount or €200,000, over the policy term. Contact life insurance companies in Ireland to know more about this policy.

Terminal Illness Benefit:

New Ireland will pay your entire life cover sum if you’re diagnosed with a terminal illness so that you can use the lump sum when you really need it.

Benefits Continuation:

You can convert your cover to another policy, and you won’t have to provide new evidence of health. For example, you could reapply for a life insurance policy in Ireland at 50 using your health details from when you were 30!

Accidental Death Benefit:

If you apply for Life Insurance mortgage with New Ireland and you’re under 55, you’ll be covered for up to €150,000 if you die due to accidental death before your policy has been issued.

Reinstatement:

New Ireland will cancel your policy and benefits if your premium isn’t paid within 30 days of the due date. However, you have a year from the date of the missed premium to contact New Ireland to restart your policy. You’ll need to pay overdue premiums and submit a new Health Questionnaire, so the terms might not be the same.

New Ireland: Life Insurance

Heart Shield

 

Feature Answer
Minimum Premium: €20.20 per month
Minimum / Maximum Term 5 years / 40 years (depending on age)
Are children covered? Yes, for €4,000
Can I put my partner on the policy? Yes, Dual Cover is also available
Applicants must be: 18-74 for beginning a Life Insurance policy (policies with indexation cannot be taken out after age 65 next birthday)
Cover expires at:
  • 84 for Life Cover
  • 74 for Specified Illness Cover
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Why Get Financial Advice?

When you have a big decision to make, or your life is changing there’s a lot to think about.

Impartial professional financial advice helps you make a better decision that gives you better options and saves you money for the rest of your life.

How we can help you

  • Get life insurance for a mortgage in Ireland
  • Get your personal financial plan in place.
  • Increase your monthly & annual savings.
  • Plan for a secure retirement.
  • Buying a home or investment property.
  • Protecting your family.
  • Life insurance in Ireland

Specific Illnesses Covered?

  • Yes
  • 55 full payment illnesses/conditions
  • 36 partial payment illnesses/conditions

Children's Specific Illness Cover?

  • Yes
  • The lower of €25,000, or half your cover, on full payment illnesses

Is there a Conversion option?

  • Yes, (for Lump Sum Life Cover Only policies)
  • Max age for Conversion is: 64

Rolling Conversion Option?

  • Yes

Optional Flexibility?

  • Yes

Guaranteed Insurability?

  • Yes

Reinstatement?

  • Yes

Temporary Accidental Death Benefit?

  • Yes

Terminal Illness Benefit?

  • Yes

Waiver of Premium Option?

  • No

Other Benefits?

  • No

Contact Us for Life Insurance in Ireland

New Ireland is one of the leading life insurance companies in Ireland. They offer a wide range of policies to suit different needs and budgets.

If you are looking for New Ireland life insurance, contact us today. At Greenway Financial, we have a team of expert financial advisors who can help you find the right policy for your needs and budget. We offer

      Debbie Cheevers

      Debbie Cheevers

      Qualified Financial Advisor

      Debbie was born in Dublin and graduated from NCAD with a degree in Visual Communication. She brings a strong customer services background to Greenway.

      Debbie qualified as APA in 2017 and a fully qualified financial advisor (QFA) in 2018.

      She believes that product knowledge is key to helping customers make the right choices.

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