Life insurance is personal insurance to your family or dependents which pays a lump sum when you die.

Life insurance in Ireland will pay out a tax free lump sum to your dependents or to your estate.

Term life insurance pays out if you die during the term of the policy.

Whole life insurance is guaranteed to pay out when you die, as long as you pay your premiums.

Single life Insurance Ireland

What is single life insurance?

Single life insurance is life insurance that covers the policyholder only.  

It will pay out one lump sum on the death of the policyholder and then ceases to provide any further cover.

Compare life insurance quotes from every insurer.

Take our 90-second online assessment and get the best life insurance quotes on the market. Our vetted life insurance partners are regulated by the Central Bank of Ireland and will outline the various options available to you.

Who offers single life cover in Ireland?

Aviva - Home Insurance
irish life
Zurich - Home Insurance

When does single life insurance pay out?

Single life insurance will pay out a lump sum (or sometimes a regular income )after the policyholder dies.

Who should have single life cover?

Anyone can take out a single life cover policy but the policies are particularly suited to certain people.

If you are the sole earner in your household, be it as a working parent with a stay at home partner or as a one parent family, then single life insurance will replace your earnings if you die and give your dependents financial protection.

You may also have elderly parents, for example, who rely on your income.

Whether or not you have a partner or children, single life insurance will clear your debts when you pass away so that you do not pass on these debts and/ or so that you can leave something to your relatives.

Funeral expenses will have to be paid by your family, maybe elderly parents or your siblings,when you die and single life insurance will provide a lump sum to cover these.

Also, if you plan to leave your estate to extended family eg. siblings/ nephews/ nieces, they will have a higher burden of inheritance tax than your immediate family and single life insurance can be arranged to meet these costs.

Planning ahead, it is wise to take out life insurance early as premiums are much cheaper when you are young.  Also, you are less likely to have been diagnosed with a health condition when you are younger making it easier and cheaper to take out life insurance.

If your circumstances change, like you marry and have a family or you develop health issues, you will have cover in place to offer financial protection.

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Benefits of Single Life Cover

The key benefit of single life insurance is that it will pay out a lump sum to replace your income and provide financial protection to those you leave behind when you die.

The level of cover you choose will depend on your individual circumstances ie. your family situation, your levels of mortgage or debt, and what you can afford.

Level term life insurance policies will pay out a fixed amount for the length of the term you are covered for.

Decreasing term life insurance means that the amount you are covered for decreases over the life of the policy, usually this is used for say a mortgage that decreases over time.

Increasing term life insurance means that the amount you are covered for increases over time to combat inflation and increases in the cost of living.

benefits of life insurance

Indexation is an option that you can choose to increase your cover in line with inflation. This means that the price you pay will also go up as the benefit increases.

Some insurers offer over 50’s or funeral type policies which are whole of life policies and will pay out a tax free lump sum after you die.

These policies are not subject to the same medical criteria as other life insurance policies.

Pension life insurance is relatively affordable and tax deductible and covers you while you are of working age up to retirement and will pay your dependents a tax free cash lump sum should you die during the term of the policy.

Some life insurance policies offer a conversion option where you can add to or extend your cover during the term of the policy without providing further medical evidence.

This will, however, add to the cost of your policy.

Income protection pays a regular income should you be seriously ill or suffer a serious injury and unable to work.

This type of protection can be linked to a life insurance policy.

Serious Illness protection will pay out a cash lump sum or a regular income should you be diagnosed with a specific serious illness, this type of protection can also be linked to life insurance cover. Cancer cover is available which specifically covers a cancer diagnosis.

Multi- claim protection is a new type of policy which is a hybrid of serious illness and life insurance.

It will pay out more than once over the life of the policy and offers financial protection should you be diagnosed with a serious illness, be hospitalised, or die during the term of the policy.

What is the difference between single life and joint life insurance?

Single life cover will cover the life of the policyholder only and pay a lump sum on the death of their death.

Joint life cover will cover the life of two policyholders with the policy paying a lump sum on the death of one of the policyholders, after which the policy is no longer in place.

Dual life cover covers the life of the two policyholders and will pay out twice if both of them die during the term of the policy.

What is the difference between single Life and Joint Life insurance

Can single life be whole life or term life?

Yes, you can purchase term single life insurance or whole of life single life insurance ( also known as life assurance). Choosing which is right depends on your circumstances and how much you can afford.

How much is single life cover?

* Example 1 – Single life insurance, age 27 years, no smoker, €250,000 over 40 years.
* Example 2 – Whole of life insurance, single life, age 32, no smoker, €350,000
* Example 3 – Single and joint life insurance, both age 51, smokers, €200,000 over 20 years.
* Example 4 – Single life insurance, age 37, non smoker, €450,000 over 37 years.
* Example 4 – Single life insurance, age 63, non smoker, €50,000 over 20 years.

Compare all single life insurance providers to get the best possible deal on your premium.

compare insurance
Insurer Example 1 Example 2  Example 3 Example 4 Example 5
VHI €25.99 Single €131.14 / Joint €236.74 53.24 (17 year term only)
Laya €22.15 Single €117.04 / Joint €208.71 €58.61
New Ireland €23.23 Single €129.04 / Joint €220.54 €47.85 €48.96
Aviva €22.40 Single €116.99 / Joint €206.29 €59.81 €59.34
Irish Life €24.95 €305.45 Single €144.20 / Joint No quote €68.38 €63.14
Royal London €19.30 Single €106.18 / €197.72 €52.33 €51.92
Zurich €19.00 Single €99.17 / Joint €180.50 €51.51 €51.17

Quote data accurate as of April 12th 2023

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Single Life Insurance Calculator

The price you pay for life insurance depends on a number of factors such as level of cover, term of policy, age, whether you are a smoker, your lifestyle and whether you require additional cover.

The level of cover is the amount of cover you require.  This may be affected by levels of debt or a mortgage, the ages of any children you have and their ages or by how much you may wish to leave a relative.

Term of policy is how long you need the policy to cover your life for or if you require whole of life cover.

The younger you are on taking out a life insurance policy, the less you will pay.

If you smoke or vape, you will pay more for life insurance.  It is wise to be honest about your smoking or vaping as your insurer may not pay out if you are not.

If you have pre- existing or chronic health conditions, as well as any previous health issues you may pay more for single life insurance cover or you may face exclusions in cover.

If you have what is classed as a dangerous job or hobbies this may increase your premium or you may face exclusions from cover.

If you require for example a conversion option, or indexation the price of the cover will increase.

A guaranteed premium will be fixed for the life of the policy, a reviewable premium may mean that your insurer will review your premium during it’s term.

The factors which affect your life insurance quote

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