www.onelifeinsure.ie

SANTA is looking for Life Insurance!

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Santa is looking for Life Insurance.

Santa contacted ‘OneLife Insure’ last week, and asked us for a quote for Life Insurance.



Like all prospective clients, we advised him that there are a number of factors that determine if he could get cover, and how much his premiums will be.



Age:
Age is one of the biggest factors affecting Life Insurance. Santa is around 2000 years old, so it might be a little challenging, as most insurers do not give policies for people over 82.



Occupation and Lifestyle:
Santa engages in a dangerous lifestyle of flying around the world on a sleigh, not to mention the heavy lifting of all those presents. Climbing on roofs and entering houses by chimney is not looked favourably by insurers.



Health:
Thankfully Santa is a non-smoker, however his weight is a worry. We predict that Santa has a BMI of around 38. His diet of milk, biscuits and cake, plus his nightcap of whiskey, don’t make things easy for him. If Santa can lose a few lbs, this will reduce the amount he will have to pay for Life Cover.



Verdict:
Can we get Life Insurance for Santa?

Yes, we are glad to offer Santa Life Insurance. We have also advised him to take out some personal accident cover too in the event he has a injury at work or back home in the North Pole.

Thanks Santa for your custom!

If you are looking for Life Insurance, look no further than OneLife Insure.

Prefer to talk to someone about your application? Call our friendly team at OneLife Insure

01 539 0410

Children’s Life Insurance

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Children’s Life Insurance
 
 

We regularly get asked here ‘can we buy life insurance for their children?’
 
 

The simple answer to the question above is that you can’t take out a Life Insurance policy on a child separately. However the good news is that, when you take out cover your children are insured as an extra benefit to your policy.
 
 

Every parent plans to outlive their children. If the unthinkable happened to your child, you would have one less thing to worry about during such a difficult time with a life insurance policy for him. That policy would cover the expenses of a funeral, which could run into the thousands if you had to pay for these costs on your own.
 
 
Life insurance for children can bring you the peace of mind you need. A life insurance policy valued at €7,000 would more than cover funeral costs should tragedy strike.
 
 

If this is important to you, please contact us so we can advise you on the most appropriate plan to suit your needs.
 
 
This free cover includes all of your children up to the age with some insurers
The amount of free cover varies also. Each insurer offers different amount of FREE cover for each children.
 
 


Zurich Life €7,000
Aviva €2,500
Friends First €5,000
Irish Life €7,000
New Ireland €4,000
Royal London €5,000
 
 

Serious Illness Cover for Children.
 
 
With two young children myself, writing this article is sending shivers down my spine evening, however the reality is that EACH YEAR IN Ireland over 200 children under the age of 19 are diagnosed with cancer. Thankfully, according to the National Cancer Registry, Ireland’s child cancer death rates are among the lowest in Europe.
 
 

When it comes to Serious Illness Cover for children, the good news is that they are covered for FREE under their parents policy. This is provided that the parents have Series Illness cover on their plan.
 
 

Like Life Insurance each insurer has different amounts of free Series Illness cover. The table below illustrates this.
 
 

Friends First: The lower of €20,000 or 50% of the parent’s illness cover amount. Max age of child is 21
 
 

Royal London: The lower of €25,000 or 50% of the parent’s illness cover amount. Max age of child is 21
 
 

Aviva: The lower of €25,000 or 50% of the parent’s illness cover amount. Max age of child is 21
 
 

Zurich: The lower of €25,000 or 50% of the parent’s illness cover amount. Max age of child is 21
 
 

New Ireland: The lower of €25,000 or 50% of the parent’s illness cover amount. Max age of child is 21
 
 

Irish Life: The lower of €25,000 or 50% of the parents illness cover amount. Max age of child is 25.
 
 
 
Additional Benefits for Children on Life and Serious Illness Polices.
 
 

The great news is that children also are covered with some great extra benefits such as Hospital Cash Cover, 2nd Medical Opinion Service, Guaranteed Insurability and more.
 
 
Remember, when taking out Life Insurance or Series Illness for yourself, you are really taking out a Family Insurance Plan.
 
 

It is vital that you are getting the plan to suit you and your family’s needs.
 
 

Please don’t hesitate to contact us, if you have any questions regarding Children’s Life and Series Illness Cover.
 
 

https://onelifeinsure.ie/contact-us/

Tax Relief on Life Insurance Premiums

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You can get Tax Relief on your Life Insurance Policy

Not many know about this, but now you can get a refund of up to 40% of your Life Insurance premiums. You can recieve Tax Relief at the marginal rate of tax on your Life Insurance policy.

 
 
Really?
 
 

Yes , it is called Pension Term Insurance and very few take advantage of this and there is no reason why.
 
 

How does it work?
 
 

It works the same was as an individual life insurance plan.
 

◗ It pays a cash lump sum if you die within the term.
◗ It provides life cover at a very reasonable price, depending on your age and certain other factors.
 

AND
 

◗ Tax relief on life insurance premiums (up to Revenue limits).
 
 

Who is Pension Term Insurance Suitable for?

     

    • Anyone who is self employed, either profession or trade such as solicitors, accountants,
      carpenters or farmers, assessable for income tax.

      • Anyone who is in non-pensionable employment i.e. PAYE workers who are not part of a company (occupational) pension scheme.
      • If you are a director of a company or are an employer.
      • If you are a member of a group occupational pension scheme and your employer has set up a group AVC scheme.

       
       

      How does tax relief work?
       
       

      Premiums paid into Personal pension term insurance qualify for tax relief at the life insured’s marginal rate of income tax, subject to certain limits.

      Premiums paid into Executive Pension Term Assurance are eligible for tax relief at the appropriate corporate rate, subject to certain limits. There are no BIK implications for the individual director or employer.
       
       

      **If you are eligible, it will cost you 40% less than a regular life Insurance

       
       

      Can you give me an example?

       
       

      To get advise on this, to check if you are eligible or to ask questions on the most appropriate cover please get in touch:
       

      E: tom@onelifeinsure
       
      T: 01-5390410
       
      or get an instant quote on our website:

      http://www.onelifeinsure.ie

     
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