The following are some of the questions we are asked most often, and hopefully our responses will explain any unanswered concerns you may have. However, if you do have other questions, please don’t hesitate to contact our customer service team or your financial advisor.

Why choose Life Choice?

 

Life Choice is a market leading protection product from New Ireland with unrivaled flexibility and affordability. You can use it to protect your home, your income, your family, even your business or investment property. Find out more

How long does it take to get cover?

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

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

Single Life – Covers only one life insured.

Joint Life – A joint life insurance policy covers two lives and may provide for a payment in the event of death of the first or last life covered depending on the type of policy you have. For example; Life Choice Home joint life cover will pay on the first claim for a benefit. The cover in respect of that benefit will then cease for other lives.

Dual Life – Covers two people independently. Dual cover could potentially pay out two separate payments for each benefit covered.  In the event of a claim by one of the lives insured, the cover on the other life insured will continue as before.

Will I be required to undertake a medical examination?

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 undergo a medical examination with an independent doctor or nurse.  The medical can be arranged at a convenient location and New Ireland will cover the cost.

What happens on acceptance of my application? / When do I receive my policy documents?

If your application is accepted and you have indicated when you want the cover to start we will put set up the policy taking your wishes into account and send you your policy documents. If you have not indicated when you want the cover to start you will be contacted and the policy documents will be issued in due course.

Policy documents will be posted to you.  They include 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 policy terms and conditions (e.g. definitions of terms, when the cover is payable etc.). You should keep the policy documents in a safe place for future reference.

How soon should I apply for my policy if it is to be used as security against a loan / mortgage?

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. If your application is accepted we will let you know and we can keep your application on hold until you draw-down your mortgage.

My policy has recently lapsed and I wish to restart the policy, is this possible and if so, how can I do this?

While it depends on the terms and conditions set out in your policy conditions, it is usually possible to re-instate your policy within one year from the date that the first unpaid premium was due. Restarting your policy is subject to the payment of all outstanding premiums and we may also require that each life insured completes a Declaration of Health Form which will be subject to underwriting. Please contact our Customer Service Team or your Financial Advisor and they will be happy to assist you.

I want to amend the cover on my Life Choice policy, how can I do this?

If you wish to amend your benefits, please contact our Customer Service Team or your Financial Advisor, and they will be more than happy to assist you with this and advise what will be required in order to alter your policy.

Can I add or remove benefits?

Yes. As your lifestyle or job changes, so too will your insurance needs. That is why you should review your Life Choice policy regularly to ensure you and your family have enough insurance in place.

For example, if you have a child, you may want to add on Specified Illness Benefit (serious illness cover) or Hospital Payment Benefit.

Will the amount I pay change during the term of my Life Choice policy?

Unless you have selected the Increasing Cover option, 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. If you have chosen the Increasing Cover option (indexation) then the premiums and the protection benefits will increase on each policy anniversary by 3% per annum.

What happens if I stop paying or New Ireland does not receive my premiums?

It is your responsibility to ensure that your premiums are received by New Ireland when due.

If New Ireland does not receive your premiums when due, 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, New Ireland 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 notice and you will no longer be on cover for any protection benefits. If you have assigned your policy, we may notify the assignee (the lender) that premiums have not been paid and that cover no longer applies.