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You’ve just got married, and you’re already thinking about your other half’s potential death?
How very Henry the VIII of you ⚔️
Let’s look at your options:
Getting married usually means your finances are now linked (who says romance is dead).
You may be planning to buy a home, start a family, or simply build a life together. If something happened to one of you, the surviving partner could suddenly be left dealing with the mortgage, rent, loans, or everyday living costs on a single income.
That’s where life insurance comes in.
A life insurance policy pays a tax-free lump sum if you die during the policy term. That money can be used to clear debts, cover the mortgage, or help your partner maintain their standard of living.
When people talk about “life insurance”, they are usually referring to a few different types of protection.
If you’re buying a home, the bank will require you to have mortgage protection before they release the mortgage funds.
Mortgage protection is a type of life insurance that clears the outstanding balance on your mortgage if you die during the term of the loan.
You don’t have to buy this from the bank. In fact, it usually makes more sense to use a broker to get the widest choice of insurers (especially if either of you have a health issue).
Life insurance pays a lump sum to your partner or family if you die while the policy is active.
Unlike mortgage protection, the money goes directly to your family rather than the bank. It can be used for anything: replacing lost income, raising children, or covering everyday expenses.
Some couples focus on life insurance and forget about the bigger risk: being unable to work.
Income protection replaces up to 75% of your salary if illness or injury prevents you from working for an extended period.
If you don’t have strong sick pay through work, income protection is often the most important cover to consider.
Serious illness cover pays a tax-free lump sum if you are diagnosed with one of the serious conditions listed in your policy, such as cancer, heart attack or stroke.
Many newly married couples consider adding serious illness cover to their life insurance so that they have financial support if a major health issue occurs while they are still working and paying a mortgage.
Unlike life insurance, which only pays if you die, serious illness cover pays while you are still alive. The money can be used however you wish -covering medical costs, replacing lost income, or simply giving you time to recover without financial pressure.
It’s not essential for everyone, but it’s worth considering if your budget allows.
Though we prefer income protection over illness cover.
When couples apply for life insurance together, they normally choose between joint cover and dual cover.
Joint life insurance pays out once on the first death and the policy then ends.
Dual life insurance covers both partners separately under one policy and pays out twice if both partners die during the policy term.
In many cases dual cover costs roughly the same as joint cover but provides significantly better protection, particularly if children are part of the plan.
The earlier you arrange life insurance, the cheaper it is likely to be.
Premiums are based on factors such as:
Every year you delay, premiums increase due to age.
And, as you get older, you also run the risk of developing a medical condition that could make insurance more expensive or difficult to obtain.
For most couples, the ideal time to arrange cover is when you are young, healthy, and starting to build your financial life together.
The right amount of cover depends on your personal situation.
A simple way to estimate it is to consider:
Every situation is different, but thinking about the income your partner would lose if you died is usually the best starting point.
You may find this article helpful: How Much Life Insurance Do I Need in Ireland?
I’ve kept a copy of a claim cheque as a reminder of why life insurance is so important.
A newly married couple took out a policy paying €38.50 per month. They had two young children.
Three months later he died in a car accident.
They had only paid just over €100 in premiums, but the insurer paid €250,000 to his family.
That money allowed them to build a home and remain financially secure during an unimaginably difficult time.
Despite what you may read online about insurance companies, the reality is that they do pay claims.
Nobody enjoys talking about death, especially just after getting married.
But putting protection in place early means you can focus on building your life together knowing that the financial side is taken care of if the worst ever happened.
If you’re unsure what type of cover you need or how much protection makes sense for your situation, you can complete our short questionnaire and I’ll come back to you with a recommendation.
Prefer a quick chat first? You can schedule a time here.
Chat soon.
Nick
Editor’s Note: This article was originally published in 2019 and has been updated in 2026 to reflect current life insurance options and underwriting practices in Ireland.
Written by Nick McGowan, QFA RPA APA
Nick is a qualified financial advisor and founder of Lion.ie, a multi-agency Irish life insurance and income protection brokerage based in Tullamore. He has been helping people arrange life insurance, mortgage protection and income protection for over 15 years and was named Protection Broker of the Year 2022.
If you’d like straight answers without the sales pitch, learn more about Nick here.
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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