Life Insurance Policy FAQ's

Frequently Asked Questions

Why do I need life insurance?

When buying a house and getting a mortgage the bank will insist that you have life insurance.

Who can I contact about my policy?

If you need any help or want to contact us, we have a dedicated life insurance team available on 1890 30 20 20

How much life insurance cover is needed?

Why not try our life calculator which is designed is act as a guide when deciding how much life cover is needed.

How long do I need cover for?

Life insurance is taken out to protect the financial security of your dependants. For this reason the most common policy duration is 20 to 25 years or until your dependants have completed full-time education.

Can everyone get life insurance?

Everyone who requires life insurance will have to answer a number of medical questions. This may lead to a medical examination or you may have to provide a medical report. If you have a pre-existing medical condition or if a medical condition is identified some restrictions in life cover may be applied.

What criteria affect my life insurance premium?

The following criteria are considered when calculating your premium:

Age
Male/Female
Smoker status
Amount of cover required
Term of policy
Premium is guaranteed for the duration of the policy unless indexation is chosen

Will the amount I pay for my policy change?

No, we offer guaranteed premiums, which means that your premium will never change during the policy term, provided it is paid on time and in full and inflation option is not chosen.

How long before I am covered?

Once we have received your application, we can process your policy within 5 working days (assuming all details provided are correct). However, if you require your policy urgently, we can provide a decision on this within 4 hours.

If you have had a history of ill health (e.g. high blood pressure, a recent operation etc) on the application, the insurance company will contact your GP or request a medical report. This will delay your application by approximately ten days.

How do I apply?

You can request a free life insurance quote online. If you are happy with the quote, proceed with the process which will ask some medical questions. You can do this over the phone or we can send it in the post to you.

When do I receive my life insurance policy?

When your application has been accepted and you advise us of a start date, the policy documents are posted directly to you or if it is assigned to the bank, please put the address of the bank onto the application (under dispatch documents address) and we will send the original document directly to the bank.

Change of mind / cancellation?

When you receive your policy document you are entitled to a 30 day 'cooling-off' period. This allows you to cancel your policy and a full refund will be given.

Will you cover me if I already suffer with a specific medical condition?

You must tell us at the time of your application. The insurer may then write to your doctor or request that you attend a medical examination before a final underwriting decision is made.

If I am a smoker does this affect the premium?

Yes. If you are a smoker, your premium will be higher than that of a non-smoker.

Is a medical required?

A medical is not required in all cases. However, if you have an existing medical condition, the insurer will request a medical report from your GP.

How soon should I apply for my mortgage protection insurance policy?

You should apply for your life insurance as early as you can, but no longer than three months in advance of requiring cover to be in place. In the case of a mortgage protection insurance policy, you will need to give the bank your policy documents a couple of days before you are going to draw down the mortgage with them.

As soon as we receive your completed application form we will submit your details to the life insurance company to be processed. If the application form is completed correctly and there are no underwriting requirements, your application will be accepted and the policy documents will be issued in a couple of days.

Sometimes the life insurance company will require clarification of some medical details. This could involve attending at your GP, or getting a medical report. If a report is required it could take a week or two longer to get your application fully processed.