What's Different about Laya Life Insurance?

No medical neededThat sounds great.You may think:I don’t like answering medical questions, I’ve had a few health issues in the past, sign me up!Whoa, there, horsey.There are medical questions:Quick, easy online sign-upNothing new here.I know of one website, not a million miles from here, where you can quickly and easily compare life insurance quotes online from 5 insurers, pick the one you want and complete your application form online.In fairness to Laya, they can issue your policy documents immediately, so if you are in a crazy rush and money isn’t an issue, then they are a good shout.The other insurers need to note this and speed up their application process for applicants with no health issues.10% off when you sign up onlineOkay, this sounds promising…assuming the price of Laya Life Insurance is competitive, to begin withWe’ll look at prices later.5% discount for existing Laya healthcare memberAgain, not a bad offer if you already have Laya health cover.

How Does the Price of Laya Life Insurance Compare?

Let’s look at €500k life insurance over 35 years for a 43-year-old and a 45-year-old, non-smokers, no health issues.Quote Type: Life InsuranceFirst Person: Non-Smoker, born on 17/12/1977Second Person: Non-Smoker, born on 07/05/1975Cover Amount for First Person: €500,000Cover Amount for Second Person: €500,000Paying monthly, over 35 years.Laya: Broker: Over a 35 year term, the Laya policy will cost €33,415 more than the New Ireland policy.THIRTY THREE THOUSAND EUROS MORE!

How Much Does Laya Mortgage Protection Cost Compared to Other Irish Insurers?

Let’s take a look:Quote Type: Mortgage ProtectionFirst Person: Non-Smoker, born on 17/12/1977Second Person: Non-Smoker, born on 07/05/1975Cover Amount for First Person: €400,000Cover Amount for Second Person: €400,000Paying monthly, over 20 years.LayaBrokerOver the 20 year term, you’ll pay over €3000 for the Laya mortgage protection policy.

What happens at the end of your term?

Laya doesn’t offer a conversion option so your cover will expire at the end of the term.One of our insurer insurer offers a whole of life benefit that guarantees your policy will pay out eventuall y, so you at least get something back from the insurer (sometimes you get back more than you paid in)And did you know we deal with one insurer that allows you to cash in your policy after 15 years and get 70% of your premiums back in cash ?Flexibility:Once the policy has been set up you cannot change your coverOther insurance policies give a degree of flexibility with free benefits, such as a Guaranteed Insurability Option (GIO). This gives you the option to increase your cover in the future without answering any medical questions.ClaimsThe market average across the main life insurance providers (Aviva, Irish Life, New Ireland, Royal London and Zurich Life) is around 98%. Basically, once you don’t lie on your application form, the policy is guaranteed to payout.Our insurers publish their claims statistic every year like this:

Nick McGowan | Chief Life Insurance Broker

Laya Life Insurance – How Does it Compare in 2024?

Laya life insurance markets itself as no-frills life insurance, but is it a viable alternative to what's already on the life insurance market?

Nick McGowan - QFA RPA APA Qualified Life Insurance Advisor

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What is a PMAR? (Private Medical Attendants Report)

Medical science can spot a health issue so quickly that there seems to be hardly a healthy human left.

So don't be surprised if your insurer requests a medical report from your GP.

Here's why they need a PMAR...and how you can avoid them.

Nick McGowan - QFA RPA APA Qualified Life Insurance Advisor

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The Definitive Guide to Dual Mortgage Protection

You're looking for a mortgage protection policy:

You're probably looking for the best priced mortgage protection policy.

But will you find the best value mortgage protection policy?

You will if you keep on reading.

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Life Insurance with Asthma

Breathing.

Most people take it for granted.

But for some people with asthma, like our friend Dean, every breath in and out can be a struggle.

Fortunately, we got cover for Dean but we had to tread carefully because some insurers wanted to go to town on his premium.

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Whole of Life Insurance 2024 (it pays for itself!)

life insurance that pays for itself text on image of gent making payment

The two things that piss everybody off about life insurance are:

Having to pay for it
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I have the solution.

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Life Assurance After a Heart Attack in 2024

It's possible to get life insurance after a heart attack.

But there are a number of factors you need to be aware of.

I discuss them in more detail in this post.

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Life Insurance with a Stent Fitted

You can get life insurance and mortgage protection cover after having a stent fitted.

Here we go through the factors the underwriters will consider before offering cover.

Be warned! If you're under 40, it's going to be difficult to get cover.

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Life Insurance as Guarantor – a Headache for Irish Mortgage Applications

It's common for a parent to help out their child by acting as guarantor for their mortgage.

But what if your bank insists they need to pay through the nose for life insurance too?

What are your options?

Nick McGowan - QFA RPA APA Qualified Life Insurance Advisor

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How to Answer Life Insurance Health Questions in 2024

what questions are on mortgage protection application form?

Only answer the questions the insurers ask.

No need to volunteer additional information.

If more information is required, it's up to the insurer to request it.

Nick McGowan - QFA RPA APA Qualified Life Insurance Advisor

July 4 2024 Life Insurance

Getting Life Insurance in Ireland with Cardiomyopathy (2024)

It's possible to get life insurance with cardiomyopathy if you apply to the most sympathetic insurer.

But it's not straightforward.

Here's our guide.

Nick McGowan - QFA RPA APA Qualified Life Insurance Advisor

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Nick McGowan - QFA RPA APA Qualified Life Insurance Advisor

Laya Life Insurance – How Does it Compare in 2024?

What is a PMAR? (Private Medical Attendants Report)

The Definitive Guide to Dual Mortgage Protection

Life Insurance with Asthma

Whole of Life Insurance 2024 (it pays for itself!)

Life Assurance After a Heart Attack in 2024

Life Insurance with a Stent Fitted

Life Insurance as Guarantor – a Headache for Irish Mortgage Applications

How to Answer Life Insurance Health Questions in 2024

Getting Life Insurance in Ireland with Cardiomyopathy (2024)

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