Nick,
I need some help. Besides shopping online, how can you get cheap life insurance or discounts?
Thanks
John
Good question.
Getting cheap life insurance using discounts
Only brokers can offer the full range of discounts because they deal with all the insurers.
Well, that’s if they deal with all 6 insurers, some online brokers only deal with 3 of the 6.
As a reminder, here are the 6 life insurance companies to look out for:
Aviva – why choose Aviva
Friends First – why choose Friends First
Irish Life – why choose Irish Life
New Ireland – why choose New Ireland
Royal London – why choose Royal London
Zurich Life – why choose Zurich Life?
There’s no magic in getting discounts, it’s down to timing.
Zurich Life will give you 15% off their life insurance premiums if you apply before October 26.
Compare their quotes here.
So you’ve timed it right if you’re shopping around for cheap life insurance cover at the moment. 15% is the biggest life insurance discount EVER.
How can I reduce the cost of life insurance?
1. The simplest way to reduce the initial cost of your life insurance is by buying shorter term cover.
What I mean is instead of buying 40 year policy, choose a 25 year policy.
It’s most important you have cover when your kids are young because they
bleed you dry
depend on you to provide. Buy cover until your youngest child is 25 and making their own dough
Let’s say your youngest is 15, the best way to get cheap life insurance is to buy a 10 year policy. Make sure you add a conversion option to your policy.
Warning!
Over the life of a policy, it will work out cheaper locking in a long-term fixed price.
But money is tight while your kids are young so a short-term policy enables you to buy cheap life insurance.
2. Another way to reduce the cost is by buying life insurance that pays you an income rather than pays out a lump sum.
Let’s say you workout that you will lose €2000 per month should your other half die. You can insure them for a monthly income of €2000. Instead of receiving a big lump sum that you need to invest, you will receive €2000 every month instead.
Monthly income life insurance is cheaper than lump sum life insurance. It suits those uncomfortable with investing.
Any other ways to get cheap life insurance?
3. If you have life insurance, review your policy if you have quit smoking or use e-cigarettes.
Non smokers pay around half the price smokers pay.
4. Finally if you are paying an extra premium due to a past health issue, you should review your policy.
Time is a great healer especially when it comes to healing your wallet.
Over to you…
If you’re looking for cheap life insurance in Ireland, don’t be conned by the razzle dazzle brokers you hear on the radio.
Give me a shout and I’ll get you the best deal but more importantly the best cover for you and your family.
Complete the short form below or call me on 05793 20836 and we’ll get cracking.
Nick McGowan
LION.ie | Specialist Life Insurance Advisors
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