AIB brings you our simple guide to the types of Life Insurance you may need if you are a single person.
AIB’s Life Insurance Series: Living the Single Life
You may think because you have no children that you don’t need life insurance. But it’s important to consider what might happen to your standard of living if you were unable to work due to an injury or serious illness. How would you pay your rent or mortgage? Would you have money to live off?
Almost 1 in 10 people in Ireland live by themselves* and if this includes you, you may need the following types of cover:
Mortgage life insurance: The aim of mortgage life insurance is to help repay your mortgage if you die or are diagnosed with one of the speciﬁed illnesses we cover during the term of your plan.
Income protection insurance: This provides you with income replacement if you find yourself unable to work at your business after a certain period of time as a result of an injury or illness.
Specified illness cover: This covers you in the event that you become seriously ill or permanently disabled. A cash lump sum payment is paid to you on your diagnosis of one of more than 38 conditions.
To discover the type of cover you might need while living the single life and how much it might cost, talk to your AIB Financial Advisor today. For more information about Insurance from AIB visit our website today.
*The statistics quoted are from the Central Statistics Office (CSO) 2011.
Life Insurance products are provided by Irish Life Assurance plc. Allied Irish Banks, p.l.c. is a tied agent of Irish Life Assurance plc for life and pensions business. Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.