Are you paying too much for life assurance? You might well be, according to a survey from life assurer Royal London.
The company’s research found that Irish banks are charging €3,000 more than brokers when it comes to life assurance. The survey showed, for example that a 35 year-old non-smoker could pay around €23.79 per month for a 30-year policy (€200,000) from a bank, or €19.63 per month from a broker, a reduction of 21%.
Remaining on the subject of insuring against unforeseeable events, the Irish Times‘ Fiona Redden queries whether it’s worth getting private health insurance before the deadline for those aged 35 and over.
If you haven’t taken out a health insurance policy by May 1st 2015, the older you are the more you’ll pay. That comes as a result of the lifetimes community rating (LCR) which is being introduced to encourage younger people to take out private health insurance and thereby spread the costs of older and less healthy people.