Paul McGonigle


LIFE ASSURANCE PRODUCTS - a healthy financial future protecting the ones you love

Mortgage Protection: This runs along side your mortgage, and decreases during your term, in line with your mortgage. In the event of premature death, the life insurance company will pay off the remaining balance owed on your mortgage.

Level Term:
With Level Term policies, the value of the amount insured, does not decrease over the term.  In the event of the policyholder’s death, the full amount that has been insured will be paid out. This is generally a  or a dual life policy.      

Convertible Term:
This is similar to level term, but it gives the added option of continuing the policy at the end of the term – with no further medical examinations required. Premiums will be increased at this time.

Whole of Life:
This is a more flexible approach to life cover as there is no policy term or no end date to the policy.  As long as you continue to pay the premiums this policy will continue until the death benefit is paid.

Specified Serious Illness Cover:
In the event you are diagnosed with a medical condition which is listed under your policy documents, you will receive a tax-free lump sum. This benefit can be added to any of the above policies at an additional cost or can be a standalone contract.

Pension Term:
  This is a standard life policy up to retirement age, which you can receive tax relief for premiums paid.

Permanent Health Insurance:
If you become unable to work as a due to a medical condition or accident, this type of cover will, after a specified deferred period, provide you up to two-thirds of your income until you can return to work, or until your pension starts working.

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