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7 Frequently Asked Questions About Life Insurance Quotes in Dublin

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The majority of Irish people nowadays utilize the Internet when looking for the best life insurance quotes in Ireland.

It makes them well-informed purchasers because they understand the importance of life insurance, and companies that respond quickly and efficiently to their customers’ enquiries are more likely to win in business at the end of the day.

When you’re shopping for life insurance quotes online in Ireland, you’re likely to have a lot of questions. Here are seven commonly asked life insurance quote questions to give you an idea of what those responses might be.

1. Should I enter regular, preferred, or preferred plus as my health status?

The majority of the most affordable life insurance estimates are based on your health status. The better your health, the more likely you are to be placed in the preferred or preferred plus health group.

Being healthy can be characterized as being free of current or previous health problems, having a healthy height and weight, and having no family history of heart disease or cancer before the age of 65.

Every life insurance company in Dublin and across Europe has its own set of preferred and preferred plus health requirements. Inquire with your broker about which insurance company is ideal for your personal and family health history. You want the most competitive life insurance quotes from the most reputable firms.

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2. What is the average amount of life insurance purchased?

Every insurance broker in Ireland has a different answer to this question. It is based on how much people actually require. So, you must assess your family and financial circumstances to determine how much insurance to purchase. 

However, if you have children or other individuals under your care, it is generally suggested that you purchase insurance equal to 10 times your annual wage or at least, for a term that will mature when your youngest child will be 25 years and above. 

If you require additional assistance in determining the amount of insurance you require, please reach out to any of the best life insurance agencies near you in Dublin. You have absolutely nothing to worry about if you know how to choose the best life insurance in Ireland.

3. For how long do most people want life insurance?

People typically seek life insurance as long as they have children or other family members to look for till they are able to support themselves.

You may have a mortgage that you’re concerned about if you pass on unexpectedly, and you don’t want your family to have to worry about it as well.

Compare your life insurance quotes to the completion of your children’s education or the completion of your mortgage. Only final expenses or estate planning would necessitate a whole life insurance quote.

With children in mind, here’s a life insurance quote we’d recommend residents of Dublin planning to take out a life insurance coverage should check out.

For example, if you have young children, a 20-year term plan may be appropriate, as it will cover them until they are in their early twenties, through college or university, and will be able to care for themselves once you are gone. If you have a specific university in the UK or the U.S. in mind for them, you can as well put that into consideration.

4. Are you an insurance firm?

No, I’m an independent insurance blogger who shares information about some of the best life insurance companies in England, Scotland, Wales, Northern Ireland, the United States, Canada, Australia and most parts of Europe. You can shop online for the best life insurance quotes from any of the top-rated insurers in Canada, the U.S., the UK or Australia, depending on where you live.

We are not affiliated with any life insurance company in Ireland. We only compare prices using a life insurance quote calculator to provide unbiased recommendations on which company is best for each client’s specific scenario.

Clients will have a contract with the insurance company (not with us) at the end of the day, and we will function as the information giver to assist you in qualifying for any life insurance coverage.

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5: Is this the most cost-effective life insurance quote in Dublin?

Is this the most cost-effective life insurance quote in Dublin

Yes. For the health class you selected, you will receive the most competitive life insurance quotes possible.

In Canada for instance, the Regular Health class is a good place to start because it has the best rates. That implies that if you are classed as Preferred or Preferred Plus, you may still be eligible for cheaper prices.

Furthermore, insurance companies base their prices on your “nearest” age rather than your actual age. The closest age is 6 months before your actual birthday, so apply between your birthday and the 5th month to save up to 10% on term life insurance rates in Canada.

Another interesting way to get a cost-effective life insurance policy in Ireland is by buying life insurance that pays you an income rather than pays out a lump sum.

Are life insurance proceeds taxable in Ireland? Yes, any gains on the investments of the proceeds of a life insurance policy are taxable at 41%.

6. Will the rate I’m quoted for life insurance be the rate I actually pay?

Your life insurance quote in Ireland and in every other country like Canada, the U.S., etc, is an estimate; once you apply (at no cost or obligation) and see the insurance nurse for a mini-physical, you’ll receive a firm approval rate and offer (again at no cost or obligation). After seeing the insurance nurse and everything is confirmed to be okay, your policy can commence within the next three months (subject to conditions).

Your lifestyle and career can affect your life insurance premium in Ireland. People who work in high-risk jobs will pay more in premiums.

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7. Do I have any obligations?

No. You can respond “yes” or “no” to the offer once the Insurance Company has provided you with a firm approval rate. You are not obligated to continue, and there is no fee if you choose not to. Comparing life insurance quotes is free in Ireland and across the UK.

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