Life Cover

...we will pay-out a predetermined sum of money should you pass on within a specified time period

Our Life Cover product will pay-out a predetermined sum of money should you die within a specified time period. OCI Insurance Brokers Ltd offers the most competitive Life Cover rates in the industry. You can choose between the following:

Level Term Cover

provides a lump sum death benefit over the term of the contract. The term of contract refers to the period of time that you wish to remain on cover for and is decided by you at the outset.

Convertible Term Cover

allows conversion during the term of the plan to an alternative plan type without additional medical evidence. A number of additional benefits of Life Cover automatically included by OCI Financial are as follows:

On diagnosis of a terminal illness an advance payment of the benefit can be claimed. The following conditions apply:

  • 80% of the benefit may be paid in advance up to a maximum of €2million.
  • A life expectancy of 12 months or less must be diagnosed.
  • 20% of the benefit will be paid on subsequent death.
  • Premiums continue to be paid during the remaining period.

Accidental Death Benefit

This is an automatic benefit offered for the period while an application form is being processed. Cover will be provided at a level equal to the life cover proposed or €125,000 if less. Cover will cease when processing of the application is complete or after 30 days if sooner.

Optional Benefits

Indexation Option – If this option is chosen, the death benefit will automatically increase by 5% each year. The premium will increase by 8% each year to pay for the additional cover.

Why would I need cover and what type of cover do I need?

During our lives we experience many things. Some of these experiences change our lives for better or worse. Our products will help you to prepare for either eventuality.

  • Life Cover is essential for anyone buying their home. This cover can be used to secure your mortgage with the bank or building society.
  • Serious Illness Cover will give you peace of mind. It provides a lump sum payment on the diagnosis and certification of a prescribed serious illness.
  • Life Cover can also be used to ensure the financial survival of your business in the event of the death of a director or key employee.
  • Due to an accident or illness, you may be disabled and unable to work. We can provide the cover to ease any financial burden you may experience due to your disability.
  • Whole of Life Cover can provide family protection, protection of your estate and business protection planning.