Table of Contents
Originally published: 2019 | Last updated: September 2025
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Do you remember the first time you drove in the dark?
Were you nervous?
I was terrified.
And lost.
Maybe I was terrified because I was lost.
And I couldn’t figure out how to use the headlights.
So I was terrified, lost, and couldn’t use the headlights.
It’s not the best combination for driving in the dark for the first time.
Yeah, good story Nick, but what’s this got to do with life insurance for new parents?
Well, you see, my firstborn, Chloe, was due to arrive imminently.
And the way things were going, I wasn’t going to make it to the birth.
17th September 2010 (time flies) Hannah (Mrs Lion) was still in labour; she had been induced three times, but there was no sign of the baby.
“Nothing stirring”, the nurses said, so the hospital advised me to head home.
My home was in Tullamore, and the hospital was in Mullingar, so I booked into a hotel that was apparently a few minutes’ drive from the hospital.
Off I went on the supposed 2-minute drive to the hotel.
A route I thought I knew quite well.
But things look very different in the dark, especially roundabouts.
Pretty soon, I was lost, heading out of town and down a DARK backroad.
In fact, it was the darkest road I had ever seen.
Like pitch black dark.
Why is the road so dark?
Beeeeeeeeeeeeeeeeep, HONNNNNNNNNNK.
Oh, hi there, friendly folk beeping and gesticulating at me?
Hang on a minute; this is rural Ireland; there’s no road friendliness here, only rage!
Oh sweet Jesus, I’ve been driving for ages without any headlights on.
OK, LIGHTS ON, PHEW.
More flashing and beeping.
More rage.
Oh shite, I have full beams on, how do I turn them off?
I pulled into an old, disused petrol station and tried to calm down.
I was FREAKED OUT due to nerves, strong hospital coffee and a lack of sleep.
Eventually, I made it back to the hotel unscathed and was there when little Chloe was born the next morning. Holding her for the first time made me think about how her life would have panned out if I hadn’t made it to the hospital. You see, I didn’t have any life cover. I was young, had no kids, and both Hannah and I were working, so I had no need for life insurance.
Maybe you’re in the same boat? If you are, you’ve come to the right place.
Here’s what you need to know about life insurance as a new parent.
In plain English: it replaces your future income if you die — by leaving a tax-free lump sum so your family doesn’t go from two incomes to one… or none.
If you have death-in-service at work, great — but it usually isn’t portable, and it may not be enough on its own.
Life insurance covers an income gap. Rough rule: higher income and younger kids → more cover needed.
If you net €60,000/year and have ~25 working years left, that’s roughly €1.5m in future take-home that disappears if you die.
Your policy’s job is to plug enough of that gap so your family is OK.
Use our quick calculator below to get a ballpark figure tailored to your income and family situation:
Yes — including stay-at-home parents. Replacing childcare, lifts, cooking, planning, cleaning (and a million other jobs) costs real money.
A payout buys time, options, and less panic.
Cover matters even more because there’s less redundancy in the system. If you’re parenting solo, let’s structure a policy that keeps school, rent/mortgage, and routines steady for your child.
Price depends on age, health, smoker status, cover amount, and term.
You don’t pay tax on the payout.
Get live pricing in 30 seconds here: compare quotes.
If you’ve a mortgage and a family, you usually need both — on separate policies so you can change one without messing up the other.
More here: Mortgage Protection Explained.
Income protection first, every time.
Your income pays for everything. State illness benefit won’t stretch far.
Specified serious illness only pays for listed illnesses; income protection covers any medically-recognised illness that stops you doing your job beyond the deferred period.
Deep dive: Income Protection (Explained).
Not necessarily — it depends on amounts/terms.
Occupation class is the big lever: an accountant will usually pay less than a builder for the same cover.
We’ll help you figure out the right amount of cover and deferred period for your sick-pay and budget.
Complete this questionnaire, and I’ll be back in a jiffy.
Common approach: run the policy until your youngest turns ~25 (finished full-time education).
Always add a Conversion Option so you can buy a new policy later without fresh medicals.
Yes.
A normal pregnancy isn’t a problem though conditions like gestational diabetes can add a temporary loading until readings normalise.
If you’re trying, it’s smart to set mortgage cover up early so you don’t miss add-ons (e.g. some hospital cash benefits can’t be added once pregnant).
Usually no.
Clean applications (no health issues) are accepted immediately.
Minor issues may trigger a health questionnaire.
Moderate issus (MS, Diabetes, cancer history) may require a medical report from your GP
Full medicals are rare and typically linked to very high sums assured or flagged disclosures.
Yes — it’s the perfect time.
After baby arrives, spare time vanishes, you won’t have time for a cuppa let along arrange life insurance.
Get it boxed off now.
Most policies include Children’s Life Cover as a built-in extra — typically up to €7,000 from 3 months to age 18 (or 25 if in full-time education).
Some plans also include a second-medical-opinion service.
We’ll confirm the exact benefits across insurers.
There’s a lot here, and your situation is unique. I’ll keep it simple:
Thanks for reading,
Nick
Editor’s note: First published 2019. This update September 2025.
As Ireland's leading life insurance broker, we specialise in comparing the rates and policies from the top five Irish life insurance providers and offering the very best value quotes to suit the individual needs of our clients. Our expertise lies in finding a suitable insurance plan for those with specific needs, be it a particular illness, occupation or claim history, we've got you covered in every sense!
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