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Life Insurance FAQs

We've gathered all the details you need to better understand your insurance options. Take a look at our FAQs and learn more about how we can help you get the cover you deserve at the price you prefer.

Life Choice Assets can be used by individuals who want to ensure their investment property or business will provide their family with financial security in the event of death or serious illness.

With Life Choice Assets you can get:

Lump Sum Payment - In the event of death

A lump sum that can help to meet your family's immediate financial needs.

Lump Sum Payment – If you suffer a serious illness

A lump sum amount in the event that you suffer from a specified serious illness (benefit can be standalone or deducted from the lump sum on death benefit).

No one understands your financial situation better than you. That means you should avoid letting someone else tell you how much protection you need. You can get a rough estimate of your insurance needs by adding together your debt, estimated funeral costs, and six months to a year of income replacement. You need the policy that’s right for you and your family’s financial situation.

Don’t be afraid to ask the advisor questions. You should know the product inside out before buying it. What happens if I change my mind about cover or need more cover? How long are premiums guaranteed for? What are the exclusions?

Make sure you do your research before purchasing an insurance product. Make sure it fits your needs and budget, and make sure you understand the contract. The advisor is obligated to explain it to you. Don’t sign until you understand the contract.

Life Choice is a market leading protection product underwritten by New Ireland Assurance Company plc. You can use it to protect your home, your income and your family.

Single life – covers only one life insured and pays out once.

Joint life – a joint life insurance policy covers two people and pays out once. It is a policy that provides cover for two people and pays out a benefit on the first death, of either insured person and therefore will only pay out a benefit once. This is why joint life cover is usually cheaper than dual life cover.

Dual life – covers two people independently. It is a life insurance policy that provides cover for two people and continues after the first person dies. It pays out benefits on each death. It could potentially pay out twice during the course of the policy.

We will process your application as soon as it is received. If the application form is fully completed and no further information is required (e.g. from your doctor) we will then issue you with a policy document within 10 business days.

For the large majority of applications, a medical examination is not necessary. Depending on the level of cover sought or information provided in your application, we may ask you to have a medical examination with an independent doctor or nurse. The medical can be arranged at a convenient location and the cost will be covered by the underwriter.

When your application is accepted and if you have already indicated when you want the cover to start we will put the policy in-force and send you a policy document. If you have not indicated when you want the cover to start you will be contacted for that information and the policy document will be issued once we have received confirmation of the intended start date.


The policy document (or a copy of your policy document) will be posted to you. It includes a policy schedule which contains the specific details of your cover (type and amount of cover, term of cover etc) and the policy conditions which set out the standard policy terms and conditions (e.g. Definitions of terms, when the cover is payable etc.). You should keep the policy document in safe place for future reference.

We recommend that you apply for your cover at least 6 to 8 weeks in advance of the date you plan to draw down your mortgage. When your application is accepted we will let you know and we can keep your application on hold until you draw-down your mortgage.

If you wish to amend your benefits, please call 1850 200 318, and they will be more than happy to assist you with this and advise what will be required in order to alter your policy.

No, the premium is fixed throughout the term of your life choice policy and will remain the same once the benefits are not amended during the policy term. However; if you have chosen the increasing cover option (indexation) then provided premiums have been paid, we will increase the premium and the protection benefits on each policy anniversary by 3% per annum; if you have chosen increasing cover then this will be stated on your original policy schedule.

It is your responsibility to ensure that your premiums are received when due. If your premiums are not received when due or you stop paying your premiums or cancel your policy during the term, then your policy and any protection benefits it offers, will cease and no benefits will be payable.

In the case of life choice your underwriter will allow you 30 days for payment from the date that the premium is due. If the premium is not received within 30 days of being due your policy and protection benefits will cancel immediately without further notice and you are no longer on cover for any protection benefits. If you have assigned your policy, we are obliged to notify the assignee (the lender) that premiums have not been paid and that cover no longer applies.

If you’re aged between 50 and 75 and resident in the Republic of Ireland, you are eligible for this product, which means you don’t need to worry about any medical questions, check-ups or reports.

You will not be asked any medical questions and no medical check-ups or reports will be needed now or at any time throughout your cover.

Your loved ones can claim a lump sum payment, up to a maximum of €30,000 (depending on your monthly contributions) to cover funeral expenses or other outstanding bills at the time of your passing - once your policy has been in force for 2 years or more. And in the unlikely event that your death takes place within the first 2 years of your policy being in force, your dependants will receive a sum equal to the amount you have paid into the policy at that time.

Premiums to Suit You

You can choose the monthly premium you would like to pay and we can then tell you the level of life cover this will secure for you, or you can choose a level of life cover and we will then tell you how much of a monthly premium you will have to pay.


Ease of Application

Having first decided on the level of life cover and agreed the amount of premium to pay all you need to do is complete and return your application form and make your first premium payment, it’s that simple.


Premiums Cease at the Age of 85, but Life Cover Will Continue Until You Die

Your monthly premium payments will cease when you reach the age of 85. However, your life cover will continue until you die.


Full Life Cover Benefit Payable after 2 Years

In the unlikely event that your death takes place within the first 2 years of your policy being in force, your dependants will receive a sum equal to the amount that you have paid into the policy at the time of your death. The full death benefit becomes payable on death after the first 2 years of the policy being in force.


Consistent Level of Life Cover & Unchanging Premiums

The level of life cover you choose and your monthly premium payments will not change throughout the entire term of your plan.


Choice of Flexible Payment Methods

You can choose to pay your monthly premiums either by Direct Debit or at your local Post Office – the choice is yours!


Peace of Mind & Security for Your Loved Ones

In the event of your death, the lump sum amount paid to your family can help ease uncertainty and worry over their immediate financial security at a difficult time.


Travel Accident Benefit

If while your policy is in force, you have a motor accident or an accident as a fare paying passenger or pedestrian and you die as a result of this accident within 3 months, your beneficiaries will receive double the amount of your selected life cover.

  • aged between 50-75 and resident in the Republic of Ireland
  • life cover with no need for a medical examination or to give medical information
  • want cover for the rest of your life
  • want payments that will never increase or decrease
  • want an opportunity to leave a lump sum to a loved one or your grandchildren
  • want an opportunity to leave a lump sum to your loved ones

Don’t be afraid to ask the advisor questions. You should know the product inside out before buying it. What happens if I change my mind about cover or need more cover? How long are premiums guaranteed for? What are the exclusions?

Make sure you do your research before purchasing an insurance product. Make sure it fits your needs and budget, and make sure you understand the contract. The advisor is obligated to explain it to you. Don’t sign until you understand the contract.

An Post Insurance Over 50s Funeral Plan is a life insurance policy which allows you to prepare financially for the cost - or part of the cost - of your funeral. By taking out this policy, you can ensure that you leave your loved ones some money to take care of the cost of your funeral - or to take care of other expenses.

Taking out a funeral plan can allow you and your family to be financially prepared for the costs of your funeral - as well as some of the bills that you may leave behind on your passing. Taking out an An Post Insurance Over 50s Funeral Plan will help you save your loved ones the worry and stress of financing your funeral at an emotional time.

Your savings may not be enough to cover your funeral costs - whereas a well thought-out funeral plan can be - depending on your preferred premium and choice of funeral arrangements.

An An Post Insurance Over 50s Funeral Plan guarantees your loved ones a fixed lump sum on your passing. The level of cover is based on the age you commence your policy and the level of cover you choose. Premiums start at just €15 per month.

For example, a 50 year old paying a premium of €15 per month would be assured for €4,700. A 62 year old paying a premium of €20 per month would be assured for €3,190. You can choose the level of cover you want - depending on the type of funeral you wish to have. The total premiums paid over the term of your policy may exceed the death benefit.

It's not just for the over 50's! Over 50s Funeral Plan is perfect for the over 60's and over 70's as well. Anyone aged 50 to 75 who is living in the Republic of Ireland can apply.

No, you can get a quote for an Over 50s Funeral Plan on behalf of someone else but the policy can only be taken out by the named owner of the policy.

No. As long as you're aged between 50 and 75, you're guaranteed to be accepted for an Over 50s Funeral Plan.

Level of life cover is the lump sum payable to your beneficiaries upon your death. This is sometimes referred to as the sum assured or lump sum benefit.

This is the person whose life is assured by the policy i.e. the person on whose death the sum assured will be paid.

This is the date that your life insurance plan becomes active, which is the date from which cover is provided. This date is shown on your schedule.

No. Your life insurance and your premium are fully guaranteed and cannot increase or decrease. They will remain the same even if the cost of living increases each year (inflation).

If, when you've received your Over 50s Funeral Plan policy, you feel it is not suitable for your needs, you may cancel it by instructing us in writing and returning the policy documents to us. You must do this within 30 days of receiving your policy and any premium paid by you will be returned in full.

From the first day of your policy being active with us, if you have a motor accident or an accident as a fare paying passenger or pedestrian and you die as a result of this accident within 3 months your beneficiaries will receive double your selected life cover.

You can pay in monthly installments by Direct Debit or at the Post Office.

No, our Over 50s Funeral Plan is a regular premium protection policy where payments are made monthly. We have a range of ways for you to pay for your chosen funeral plan.

Your regular payments depend on your age and the amount of cover you want. The minimum regular payment is €15 a month.

If you stop paying your premiums, or cancel your policy (after 30 days), any protection benefits it offers will cease and no value will be payable and none of your monthly premiums will be refunded.

No. Your regular payments are guaranteed never to increase or decrease.

If, when you've received your Over 50s Funeral Plan policy, you feel it is not suitable for your needs, you may cancel it by instructing us in writing and returning the policy documents to us. You must do this within 30 days of receiving your policy and any premium paid by you will be returned in full. If you cancel your life policy after 30 days, none of your monthly premiums will be refunded.

An Post Insurance's Over 50s Funeral Plan is underwritten by New Ireland Assurance - one of Ireland's largest life and pension companies which look after the protection and investment needs of over 500,000 policyholders.

No one understands your financial situation better than you. That means you should avoid letting someone else tell you how much protection you need. You can get a rough estimate of your insurance needs by adding together your debt, estimated funeral costs, and six months to a year of income replacement. You need the policy that’s right for you and your family’s financial situation.

Don’t be afraid to ask the advisor questions. You should know the product inside out before buying it. What happens if I change my mind about cover or need more cover? How long are premiums guaranteed for? What are the exclusions?

Make sure you do your research before purchasing an insurance product. Make sure it fits your needs and budget, and make sure you understand the contract. The advisor is obligated to explain it to you. Don’t sign until you understand the contract.

Life Choice is a market leading protection product underwritten by New Ireland Assurance Company plc. You can use it to protect your home, your income and your family.

Single life – covers only one life insured and pays out once.

Joint life – a joint life insurance policy covers two people and pays out once. It is policy that provides cover for two people and pays out a benefit on the first death, of either insured person and therefore will only pay out a benefit once. This is why joint life cover is usually cheaper than dual life cover.

Dual life – covers two people independently. It is a life insurance policy that provides cover for two people and continues after the first person dies. It pays out benefits on each death. It could potentially pay out twice during the course of the policy.

We will process your application as soon as it is received. If the application form is fully completed and no further information is required (e.g. from your doctor) we will then issue you with a policy document within 10 business days.

For the large majority of applications, a medical examination is not necessary. Depending on the level of cover sought or information provided in your application, we may ask you to have a medical examination with an independent doctor or nurse. The medical can be arranged at a convenient location and the cost will be covered by the underwriter.

When your application is accepted and if you have already indicated when you want the cover to start we will put the policy in-force and send you a policy document. If you have not indicated when you want the cover to start you will be contacted for that information and the policy document will be issued once we have received confirmation of the intended start date.

The policy document (or a copy of your policy document) will be posted to you. It includes a policy schedule which contains the specific details of your cover (type and amount of cover, term of cover etc) and the policy conditions which set out the standard policy terms and conditions (e.g. Definitions of terms, when the cover is payable etc.). You should keep the policy document in safe place for future reference.

We recommend that you apply for your cover at least 6 to 8 weeks in advance of the date you plan to draw down your mortgage. When your application is accepted we will let you know and we can keep your application on hold until you draw-down your mortgage.

If you wish to amend your benefits, please call 1850 200 318, and they will be more than happy to assist you with this and advise what will be required in order to alter your policy.

No, the premium is fixed throughout the term of your life choice policy and will remain the same once the benefits are not amended during the policy term. However; if you have chosen the increasing cover option (indexation) then provided premiums have been paid, we will increase the premium and the protection benefits on each policy anniversary by 3% per annum; if you have chosen increasing cover then this will be stated on your original policy schedule.

It is your responsibility to ensure that your premiums are received when due. If your premiums are not received when due or you stop paying your premiums or cancel your policy during the term, then your policy and any protection benefits it offers, will cease and no benefits will be payable.

In the case of life choice your underwriter will allow you 30 days for payment from the date that the premium is due. If the premium is not received within 30 days of being due your policy and protection benefits will cancel immediately without further notice and you are no longer on cover for any protection benefits. If you have assigned your policy, we are obliged to notify the assignee (the lender) that premiums have not been paid and that cover no longer applies.


Buying a home is one of the biggest financial commitments you’ll ever make so putting the right cover in place to protect it is very important. Life Choice Home Mortgage Protection is designed to pay off the outstanding balance on your mortgage if you die or suffer from a specified serious illness (if this option is selected by you this will show in your policy schedule) during the term of the policy. Most people take it out for the term of their mortgage and the cover on this plan reduces each month as the amount owed on the mortgage reduces. 


If you die prematurely your plan can be used to:


  • Clear your mortgage
  • Secure ownership of your home

It is however important to note that should your mortgage change (e.g. you extend the term or change the amount of the loan etc.) that you also review your related life assurance cover to ensure that it continues to meet your specific needs.


Life Choice Home is a highly flexible mortgage protection plan which allows you to:

  • Increase or decrease your cover amount
  • Extend or reduce your term of cover
  • Increase the amount of cover within 3 months of moving house, getting married or having a child without having to provide evidence of health
  • Move to a new mortgage or family protection plan without having to provide evidence of health if the Medical Free Conversion option is selected
  • Avail of a Children’s Protection Benefit
  • Add Specified Serious Illness Cover (this is an optional cover which must be chosen by you to be included – if selected this will show in your policy schedule)

Terms and conditions apply. Benefits are subject to underwriting and acceptance by New Ireland Assurance Company plc. A government levy (currently 1%) applies to premium paid to life insurance policies.

You can also add one or more optional benefits to further protect your home or assets in the short-term, for example:

  • Specified serious illness cover if chosen pays a lump sum in the event you suffer one of the specified serious illnesses covered
  • Depending on the LifeChoice product selected there are a range of other additional benefits such as surgery payment benefit, Hospital payment etc
  • Medical Free Conversion allows you to convert your policy to a new mortgage, family protection or assets plan without the need for further medical evidence.

The benefits above are optional extras and you are not required to purchase them when taking out a Life Choice Home, Life Choice Assets or Life Choice You & Family Protection plan.

Terms and conditions apply. Benefits are subject to underwriting and acceptance by New Ireland Assurance Company plc. A government levy (currently 1%) applies to premiums paid to life insurance policies.