What is Life Assurance?
A guaranteed protection plan, designed to provide a guaranteed lump sum if you die, or to provide a lump sum if you are diagnosed with a specified illness during the term of your plan if you choose specified illness cover.
What benefits are available? Life cover only or Life & Illness cover.
Additional benefits - Life cover additional payments, specified illness cover additional payment, protection flexibility, children's cover, accidental death benefit, guaranteed insurability, terminal illness.
Optional Benefits
Life Insurance provides you with a range of optional benefits. You will have to pay extra if you choose any of these optional benefits.
Inflation protection. This allows you to increase your cover yearly to keep in line with the cost of living. At present, cover increases 3% each year, while premiums increase by 4.5% each year.
Guaranteed cover again. This allows you to convert your cover to another plan at any stage throughout the term of your plan.
Life cover additional payment. If you take out life cover and are diagnosed as having one of 5 conditions we cover, we will make a payment of €5,000. This applies where you have taken out at least €25,000 life cover.
Specified illness cover additional payment. We will also make an additional payment on a further 41 conditions. There are specific definitions for each of these conditions - please refer to the product booklet.
Protection flexibility. This allows you to make significant changes to the level or term of your benefits without cancelling your existing plan, up to the fifth plan anniversary.
Children's Cover
If you take out life cover, we also automatically cover each of your children up to age 25 for €7,000 life cover for as long as you are covered.
Where you take out specified illness cover, your children up to age 25 are automatically covered for €25,000 or half of your specified illness cover benefit amount, whichever is lower, for as long as you are covered.
Children are also covered for one additional payment of €7,500 or half of your specified illness cover benefit amount, whichever is lower, for as long as you are covered.
Accidental death benefit. A temporary automatic benefit, available when you take out life cover. We will pay the death benefit (to a maximum of €150,000) if you die as a result of an accident, subject to a maximum entry age of 55.
Guaranteed insurability. If you take out Term Life Insurance and, before the age of 55, you get married, have a child, take out or increase a mortgage, or get an increase in salary, you can ask us to set up a new life cover plan.
Terminal illness. If you have life cover and are diagnosed with a terminal illness, we will pay out the full benefit straight away. With specified illness cover only, we will pay the lower of €15,000 or half the specified illness cover straight away.
Serious Illness Cover
What is it? Some illnesses can have a significant impact on your life. They can stop you from working and your recovery may require assistance and time. Serious illness cover (sometimes called critical illness cover) provides financial support if you are diagnosed with a serious illness.
How it works. Financial support at a time of physical and emotional stress can help you take time off work, pay for specialist treatment, or cover day-to-day bills such as childcare. It pays out a tax-free, cash lump sum if you are diagnosed with a life-threatening illness such as cancer, heart attack or stroke.
Our commitment. We provide cover for 70 serious illnesses, including the three most common: cancer, heart attack and stroke. When it comes to making a claim, we understand it can be distressing, so we make sure all valid claims are processed efficiently.
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Avalon Broker - Life Assurance
We are insurance professionals with over 16 years of experience in this field. We specialise in creating and managing insurance products, providing our clients with reliable protection and peace of mind. Our experience spans both individual and corporate insurance, allowing us to offer a wide range of services tailored to the different needs of our clients.
Avalon Broker's experience and attention to detail have made us a trusted partner for many clients. We constantly improve our knowledge by monitoring new trends and changes in the legislative framework in the insurance industry. This allows us to offer relevant and effective solutions that meet modern requirements.
