Life Cover

Life cover is the payment of a lump sum on the death of a named individual within a specified term.

Available as:

  • Single Life (paid on the death of 1 named individual)
  • Joint Life First Death (cover is on two individuals but paid on the first to die)
  • Dual Life (cover is on two individuals and payment made when each individual dies)
Life cover
  • Can help to pay off mortgages & loans
  • Can help your family to replace some of your lost income if you were to die
  • Guaranteed pricing available for the term of your plan
  • Cover can be indexed against inflation
  • Peace of mind


Types of Life Cover

Decreasing Term Assurance/Mortgage Protection Insurance

  • Available on a Single/Joint Life basis. The insurance cover is designed to reduce in line with a mortgage/loan balance that it is protecting.
  • If there are two lives insured then both lives must have equal cover
  • Specified Illness cover must generally be Accelerated (refer to Specified Illness Cover).

Term Assurance
Level Term Assurance Cover remains level for the term of the policy.

  • It can be single/joint/dual
  • Each life can have a different level of cover
  • Specified Illness Cover can be Accelerated or Stand alone


Conversion Option
Also known as Guaranteed Cover. Generally this is only available on Term Assurance.
This additional benefit allows customers to convert their cover to a new policy without having to provide further medical evidence. Essentially it allows them to extend the term. The conversion must happen within the original term of the plan.

Q. Does it cost more to include this option?
A. Yes generally an additional 5%-10% of the premium.

Important information

Decreasing Term Assurance/Mortgage Protection Insurance

Note: There is no cash-in value on your mortgage protection policy. If you select decreasing cover, the benefits provided may not be sufficient to repay the outstanding balance on your mortgage. The risk of insufficient funds will be heightened if the interest rate on your home loan increases to more than the assumed rate that the Life insurance company expects in its assumptions, or your home loan repayments are in arrears.

Danske Bank has selected Irish Life as its preferred provider for Life Cover business after an extensive tender process of Life assurance providers. Irish Life is the largest provider of protection products in Ireland and has been providing these products for 70 years.

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