Question 1

How much should you spend on life insurance?

Accepted Answer

Like it or not,  life insurance is a smart play for your family.If you walk out in front of a bus, you&#8217;re gone, and so is your income that they depend on for their future financial stability.But, you might be wondering how much should you spend on life insurance?Are we talking about having to sacrifice nice days out with the fam, or just your regular morning caffeine hit?These are totally valid questions. It seems like any hard numbers are, well, hard to come by no matter how much googling you do.However, it is a really tricky question to answer.A life insurance quote is going to be different for every person.Your lifestyle, habits, health issues, and age and weight will affect how much you will pay for your life insurance policy.But as I’m one of the soundest brokers you&#8217;ll meet.Am I really sound if I have to say I am?I’m going to break it down as much as I can without actually knowing anything about you.Sit back, relax, look into my eyes and prepare yourself for a really crappy knock-off of Keith Barry | Mind Magician

Question 2

How much will life insurance cost me?

Accepted Answer

As I said, I can’t give you exact numbers.You’re a stranger to me, I don’t know enough about you.But, I do have a rather nifty life insurance calculator that can give you a personal quote.Although beware, it still doesn’t ask enough questions to get a completely accurate quote.Why?As aboveYour lifestyle, habits, health issues, and age and weight will affect how much you will pay for your life insurance policy.Check out my article here that explains why you can’t 100% trust online life insurance quotes.Anyways, back to the topic at hand.And please, a huge round of applause as we welcome to the stage my young friend, Patrick.Patrick is 46 years young, has never had a life insurance policy, and now that he has a family, he’s started to recognise his own mortality because his wife has threatened to kill him more than once.He’s never smoked a cigarette – unless you count that one sneaky drag he had back in 1993 when he tried to fit into the cool gang at college.He failed horribly.Anyway, Pat is looking for a life insurance policy of €500,000. Factoring in possible funeral costs, mortgage payments and regular life bills his family may face if he was to meet his maker sooner rather than later, he’s gone for a comfortable half a milly.

Question 3

Are you surprised?

Accepted Answer

Were you expecting it to be more expensive? If you were happy days, you could afford a good level of cover.If that seems too dear, well, you simply reduce the cover to a more manageable level because some life insurance is better than none.Let&#8217;s say Patrick wants to spend €30; let&#8217;s halve the cover to €250,000 &#8211; how much?Ta-dah!€36 per month.

Question 4

What makes Life Insurance more expensive?

Accepted Answer

Patrick’s quote is based on the assumption that everything else to do with his health and lifestyle is in tip-top condition. That even his family health history is like a shiny new penny.Unblemished.But, let’s be honest, life isn’t as clear-cut as that. Patrick may find that his premium costs more than the initial quote that pops up on the web.e.g. If Patrick’s BMI is over 33, he will pay more. The heavier you are, the more of a risk these life insurance boys will view you as. On the flip side, if your BMI is under 18, you’ll probably pay more too. Insurance underwriters don’t like extremes.Look at it this way, it’s warped but true:You are putting down money (let’s call it betting) that you

Question 5

What else do I need to know to keep my life insurance premiums low?

Accepted Answer

Being a smoker will also increase those premium quotes.I mean, most of you already know this, but did you know that even if you have given up smoking unless it has been over 12 months since you have puffed your last puff/vaped your last vape, your insurance provider still classes you as a smoker?Age is a biggie!The younger you are when you sign up for your life insurance policy, the cheaper it will be.Even better, your life insurance premium is fixed for the term of your policy.So those with the forethought to sign up for a life insurance policy when they are 30 will enjoy the privilege of still paying a thirty-year-old’s premium when they are 70.

Life Insurance

How Much Should You Spend on Life Insurance?

Get in touch

Don’t know where to start?

Life Insurance Quotes - Free and Easy!