Life Insurance – FAQ’s

There are many people who do not fully understand what Life Insurance is or what it can offer. Here are a few questions that are typically asked and what answers our trained advisor’s would give you.

Q – What is Life Insurance?

A – Life Insurance is a simple way of ensuring your family and loved ones are secure financially if you were to die. You pay a monthly/yearly fee and the plan pays out a cash lump sum if you die during the plan. If you have the correct life insurance, it can give you peace of mind and your loved ones a financial safety net if anything happened to you. There are many different levels of cover and types of insurance so make sure you pick the right one for you.

Q – Do you get your money back at the end of the plan if you don’t die?

A – Unfortunately, no. Your life insurance plan provides life cover only and at the end of your plan term, you stop making payments and the cover ends.

Q – Can anybody apply for Life Insurance?

A – Generally for life cover you must be between 16 and 89 at the start of the plan.

Q – Can you buy Joint Life Cover?

A – Yes. You and your partner can have life insurance that will pay out if one of you dies during the plan. However, it only pays out once.

Q – Am I covered if I become critically ill?

A – No. However, you can take out Life and Critical Illness Cover which pays out a lump sum if you either die or are diagnosed with a critical illness. To take out critical illness cover you generally have to be between 16 and 59 years old. If you take out Critical illness any children you have will also be automatically covered whilst they are under 18.


If you have any further questions phone Refresh Financial on 028 417 52062 and speak to one of our advisor’s who can help you and answer any other queries you may have.

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