Term life insurance

Term life insurance policies pay a lump sum to a person you name (for example, your spouse or dependants) if you die during the term of the policy. Term life insurance is the simplest and one of the cheapest forms of life insurance (compared to whole of life insurance).

For example, you might take out a term life insurance policy on your own life for €100,000 over 10 years. This means if you die within 10 years (the term), the policy pays out €100,000 to your dependants. If you don’t die within the term of the policy, no benefit is paid out and the policy ends.

Last updated on 28 September 2021

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