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Life Insurance question

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  • 17-06-2011 9:18am
    #1
    MissFlitworth
    Closed Accounts Posts: 8,057 ✭✭✭


    Morning,

    Under the assumption that because I work in an office I know about these things (got to love mammys! :) ) My Mam asked me about a life assurance policy one of her bridge buddies is looking into. I haven't got a clue unfortunately. Basically it seems to be a dual life assurance policy that (although it costs more than a normal policy) pays out even if her or her partner die outside of the term of the policy. The broker she's talking to about it blogged about it here

    Whatcha think? Good idea/bad idea/weird idea?


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    #2
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    On first glance it seems like a no brainer, but then if you think what the real value of 30,000 would be in 45 years time would be, well not a lot maybe about 6000 in todays terms. All that said I do think this is a step forward in the Life Assurance industry as it will encorage more people to consider protecting their family's income future.


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    #3
    MissFlitworth
    Closed Accounts Posts: 8,057 ✭✭✭MissFlitworth


    Yep, totally agree with it being a step forward. Having said that I only realised life assurance don't pay out at all if you die outside the term of them this morning, stinger! I think I might need to read up a load on how insurance works


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    #4
    ondeball
    Closed Accounts Posts: 92 ✭✭ondeball


    I'm in the same boat as you with regard to working in an office and therefore being expected to know these things - which is laughable as I've about as much business acumen as a bottle of Powerade.

    I have been looking around recently though as I think I may finally buy in the next six months and require life assurance for a mortgage.

    Good collection of stuff on the Irish Times site here

    It's a weird thing to try and research as most of the sites in Google just throw up businesses offering to sell life assurance rather than an authoritative source of information on the products.


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