A Complete Guide to Getting a Life Insurance Quote in Ireland

Life insurance is one of the most important financial products you can buy, particularly if you have dependents or long-term financial responsibilities. It provides peace of mind that your loved ones will be financially supported if something happens to you. But with so many providers and options in the Irish market, how do you go about getting a life insurance quote and how do you make sure you’re getting the best deal?

This guide walks you through the process of getting a quote, what to look out for, how to secure the best price, and what you can expect to pay for life cover in Ireland.

Step 1: Understand What Type of Cover You Need

Before you get a quote, it’s important to understand the main types of life insurance available in Ireland:

1. Term Life Insurance

This is the most common type. It covers you for a set number of years (the “term”). If you die during the term, your beneficiaries receive a tax-free lump sum. If you outlive the term, the policy expires with no payout.

2. Whole-of-Life Insurance

This provides cover for your entire life and pays out whenever you die, regardless of age. It’s more expensive but may be suitable for those looking to provide an inheritance or cover funeral costs.

3. Mortgage Protection Insurance

A legal requirement if you’re taking out a mortgage in Ireland (unless exempt). This pays off the remaining balance on your mortgage if you die during the term of the loan.

4. Serious Illness Cover (Optional Add-on)

This can be added to your life insurance and pays a lump sum if you’re diagnosed with a specified serious illness like cancer, heart attack, or stroke.

Step 2: Decide How Much Cover You Need

Think about:

• Your outstanding mortgage
  
• Other debts
  
• Number of dependents and their needs
  
• Future costs (e.g. education)
  
• Funeral costs
  
• Your income (how much would need to be replaced?)
  

A common rule of thumb is 10–12 times your annual salary, but your needs may vary depending on your family situation and lifestyle.

Step 3: Get a Life Insurance Quote

There are three main ways to get a quote in Ireland:

1. Through a Life Insurance Broker

Independent brokers compare quotes from multiple providers (Irish Life, Zurich, Aviva, Royal London, New Ireland, etc.) and can help match you with the most suitable policy.

2. Direct from Insurers

You can go straight to life insurance companies via their websites or over the phone. Some providers offer online quotes with instant results.

3. Through Your Bank

Most Irish banks offer life insurance, typically through a single provider partnership. This is usually less competitive in terms of price and flexibility.

Tip: Use a comparison site or speak to a broker for the widest range of options.

What to Look for in a Quote

When comparing life insurance quotes in Ireland, focus on the following:

1. Monthly Premium

This is the monthly cost of your policy. Check if the price is guaranteed (fixed) or reviewable (can increase).

2. Policy Term

Ensure the length of the policy covers your needs. For mortgage protection, match it to your mortgage term. For family protection, cover until your youngest child becomes financially independent.

3. Type of Cover

Make sure you’re comparing like-for-like: level term vs. decreasing term, single life vs. joint life, and whether serious illness cover is included.

4. Exclusions and Limitations

Look out for exclusions, such as suicide within the first year, pre-existing conditions, or dangerous occupations not covered.

5. Conversion Option

This lets you extend or convert your policy at the end of the term without providing new medical evidence. It adds slightly to the cost but offers long-term flexibility.

How to Get the Best Price on Life Insurance in Ireland

Life insurance premiums in Ireland are based on your age, health, lifestyle, and the amount of cover. Here are some ways to lower your premium:

1. Take Out a Policy While You’re Young

The younger you are, the lower your premium. Life insurance costs rise significantly with age, so don’t wait too long to take out a policy.

2. Be Honest But Smart About Medical Information

You must disclose all relevant medical history, but if you’re in good health, you’ll benefit from lower rates. If you’ve recently quit smoking, wait 12 months — insurers typically classify you as a non-smoker after one smoke-free year, which can halve your premium.

3. Choose the Right Type of Policy

Don’t over-insure. Match your cover to your actual needs. If you’re only looking to cover your mortgage, consider decreasing term (mortgage protection), which is cheaper than level term.

4. Use a Broker

Brokers can shop around and find discounts or special offers you wouldn’t get directly from an insurer.

5. Avoid Bundling Unnecessary Extras

Serious illness cover, indexation, and other add-ons increase your premium. Only include them if they’re truly necessary for your situation.

---

How Much Does Life Insurance Cost in Ireland?

Costs vary widely based on your age, health, and cover amount. Here are a few rough examples of what you might pay:

Age	Cover Amount	Term	Monthly Cost (Non-smoker)
30	€250,000	25 years	€15–€20
40	€250,000	25 years	€25–€35
50	€250,000	20 years	€50–€75

These are average figures based on standard term life cover without serious illness. Smokers or those with pre-existing health conditions may pay more.

Final Tips

• Review Your Policy Over Time: Your needs change, especially after major life events like marriage, children, or buying a home.
  
• Check the Provider’s Financial Strength: Stick with well-established companies regulated by the Central Bank of Ireland.
  
• Don’t Cancel Without Replacing: Never cancel an existing policy before the new one is approved and active.
  

In Summary

Getting a life insurance quote in Ireland is straightforward, but getting the right policy at the right price takes a bit of planning. Know what kind of cover you need, compare quotes, and work with a broker if possible. By understanding how quotes work and what factors impact pricing, you’ll be well-positioned to protect your family’s future , without overpaying for it.