Would you like to save time and money by getting the cheapest life insurance and mortgage protection quotes online? Looking for a free, fast online life insurance or mortgage protection quote? At Online Life Cover we specialise in finding you the cheapest life insurance and mortgage protection quotes online. We go to all of the life insurance companies in Ireland on your behalf to find you the best product to suit your lifestyle and budget. This service is 100% free of charge to you. Online Life Cover are official agents for all of the top life insurance companies in Ireland including Eagle Star, Hibernian Life, Canada Life, Caledonian Life, New Ireland, Irish Life and Friends First. By arranging your life insurance and mortgage protection through us you: • SAVE TIME – we do all the sourcing of quotes for you. • SAVE MONEY – we guarantee to get you the cheapest quote on the market. • AVOID SALES PRESSURE - we guarantee never to hassle you to buy other insurance products that you don’t want and may not necessarily need. So, if you want the cheapest and fastest life insurance quote online or mortgage protection quote online, contact us today. Life Insurance & Mortgage Life Insurance FAQs: 1. What are the different types of products you offer? a. Mortgage Life Insurance: This is typically required by a lending institution such as a bank or building society. This type of life cover is a low cost form of life insurance. The life insurance amount reduces over the term of the policy, generally in line with the loan amount outstanding on a mortgage. On this website, a mortgage interest rate of 6% is assumed for the purposes of the life cover. Mortgage protection cover ceases at the end of the term, and no savings value will ever attach to the policy. b. Level Term Life Insurance: This assumes a level amount of life insurance over the term of the policy. Level term assurance ceases at the end of the term, and no savings value will ever attach to the policy. In the event of death this policy can be used to cover an interest only mortgage or to provide financial security for your dependants. c. Convertible Term Life Insurance: This is exactly like level term life insurance, but with an extra benefit - a convertible term assurance policy holder has a "conversion option", which he or she can exercise at any time during the term of the policy. This option to "convert" the cover at the end of the term means that you can extend the period of cover by setting up a new policy, without having to undergo a medical examination or supply evidence of good health at the time of the conversion. d. Accelerated Critical Illness Insurance: This is an option available under Mortgage Life Insurance, Level Term Life Insurance and Convertible Term Life Insurance. This option, which increases the premium, ensures that in the case of certain serious illnesses, the life insurance amount will be paid out early. On payment of such an accelerated critical illness insurance benefit, the policy ceases. No savings value will ever attach to this type of policy. e. Indexation option: This option, available on level term assurance and convertible term assurance policies, will allow your life insurance to rise in line with inflation. Your premium will rise each year accordingly. 2. Who can be covered by the life insurance policy? Life insurance can be taken out for personal use to cover the financial needs of a family who would suffer a financial loss on the death or serious illness of a particular person. Life insurance can also be taken out by those arranging a mortgage with a lending institution (this is known as mortgage protection insurance). Life insurance can be taken out for personal use to cover the financial needs of a family who would suffer a financial loss on the death or serious illness of a particular person. Life insurance can also be taken out by those arranging a mortgage with a lending institution (this is known as mortgage protection insurance). Life and critical illness insurance can also play a vital part in managing a business, whereby a company would suffer a financial loss following the death or serious illness of key personnel (this is called key person insurance). Key person insurance is exactly the same as personal term assurance, the only difference being that the policy is owned by the company (the premium is paid by the company), rather than by an individual. Please contact Online Life Cover directly for further information on this type of life insurance. Each insurance policy can be set up on the following basis: a. Single Life Insurance - Covers one person only. b. Joint Life Insurance - This type of policy covers two people and has a single payout on the first death (or serious illness in the case of serious illness insurance). Once the benefit is paid out the policy is terminated. c. Dual Life Insurance - This type of policy covers two people independently and has a payout for both deaths, (or serious illnesses in the case of serious illness cover). Each life can be covered for a different amount. 3. How soon should I apply for my mortgage life insurance policy? You should apply for your life insurance as early as you can, but no longer then three months in advance of requiring cover to be in place. In the case of mortgage life insurance, you will need to give the bank your policy documents a couple of days before you are going to draw down the mortgage from them. As soon as we receive your completed application form we will submit your details to the life insurance company to be processed. If the application form is completed correctly and there are no underwriting requirements, your application will be accepted and the policy documents will be issued in a couple of days. Sometime the life insurance company will require clarification of some medical details.