How much is life insurance in Ireland?

The two published prices, and their profiles

A "from" price applies to one example customer. These are the exact profiles behind the two figures:

The two are not like for like. Mortgage protection usually pays a falling amount that matches the loan, while life cover pays a set sum to your family. Both prices also include a discount, so the full price is higher.

The CCPC's life insurance pages give no average premium. The only way to know your own price is a quote for your age, health and cover.

What changes the price

The CCPC lists these factors for term life cover, checked on 9 November 2026:

• Age. Older applicants pay more.
• Smoking. Smokers pay more. Both published prices above are for non-smokers.
• Amount and length of cover. The CCPC calls the amount the "sum assured", and lists it with the term as the first factors in the premium.
• Health now and in the past. You fill in a proposal form, and the insurer may ask your doctor for a report.
• Family medical history. The proposal form asks about it.
• Work and lifestyle. A risky job or hobby can raise the price.

If the risk looks higher, an insurer may add a "premium loading" or refuse cover. A medical exam is usually needed only if you have a history of illness, are over a certain age or want a large amount of cover, the CCPC says.

Since 15 October 2026, insurers must ignore cancer history for mortgage protection on your home if treatment ended at least five years ago, you have been in remission for five years and the cover is up to €650,000 (Department of Finance).

Single, joint or dual cover

Couples can insure one life, or both:

• Joint cover pays one lump sum on the first death, then ends.
• Dual cover pays if either of you dies. On a whole of life plan, it pays on each death.

The CCPC suggests a joint or dual policy for couples with dependent children. It does not publish which one costs more. Dual cover can pay out twice, so ask for a quote on each and compare the price against what each would pay.

For mortgage protection, Citizens Information says a couple's policy should be on a joint life, first death basis, so the loan is cleared when the first person dies.

The type of policy

• Term or whole of life. Term cover costs less than whole of life, the CCPC says. Whole of life costs more and its price can rise at set intervals. See term or whole of life.
• Reducing or level mortgage cover. Reducing cover is the most common form of mortgage protection and costs less than the other types, Citizens Information says. Level cover keeps the full amount. See mortgage protection insurance.
• Serious illness add-on. It raises the cost. Cover that pays separately from the life cover costs more than "accelerated" cover, which pays only once. See serious illness cover.
• Section 72. These policies, used to pay inheritance tax, are more expensive, the CCPC says.
• Index-linking. Cover and premium rise each year with inflation.

Ask whether the premium is fixed. Under the Central Bank's Consumer Protection Code, if it can be reviewed, the insurer must explain the risk of a rise and state how long the first premium is fixed (Regulation 337).

What the quote must show

The Code also sets rules for every insurance quote:

• Discounts and loadings. Any discount or loading must be shown in euro and as a percentage, with the premium you would pay without it (Regulation 330). This matters for prices like the two above, which include 10% discounts.
• Monthly or yearly. The insurer must explain any difference in cost between paying in one go and paying by instalments, in euro (Regulation 338).

Revenue charges a levy of 1% on life assurance premiums, under section 124B of the Stamp Duties Consolidation Act 1999. Insurers file and pay it each quarter.

Ways to keep the cost down

These points come from the CCPC's life insurance and mortgage protection pages:

• Compare providers. Your lender cannot make you buy its mortgage protection. A €5 a month gap adds up to over €2,000 on a 35-year mortgage.
• Keep the cover you have. Do not cancel a policy unless you need to. A new one at an older age usually costs more.
• Keep paying. A term policy lapses after 30 days without payment, and a long gap can mean a new policy at a higher premium.
• Answer every question honestly. A policy may not pay if death is caused by a condition you did not disclose.
• Check the 30-day window. You can cancel a new term policy within 30 days for a refund, less any fees.

When you may not need it

The CCPC says you may not need term life cover, or may need less, if no one depends on your income, you have death-in-service benefit through work, your family is financially independent, or your partner earns enough to support any dependants.

Check what you already have before you buy. Your mortgage may already carry mortgage protection, and the CCPC notes you may have death-in-service benefit through your job or pension. If you are not sure, ask your employer and lender.

Income protection has a different cost picture, with tax relief on premiums: see income protection insurance. For other products, see our guide to insurance costs in Ireland. Vhi's details are on our Vhi provider page, and the overview is in our life insurance guide.

Sources

• CCPC: Life insurance (accessed 9 November 2026)
• CCPC: Whole of life insurance (accessed 9 November 2026)
• CCPC: Mortgage protection insurance (accessed 9 November 2026)
• CCPC: Serious illness insurance (accessed 9 November 2026)
• Citizens Information: Insurance protection on mortgages (accessed 9 November 2026)
• Central Bank of Ireland: Consumer Protection Code, Part 4 Insurance (Regulations 330, 337 and 338) (accessed 9 November 2026)
• gov.ie: "Right to Be Forgotten" for cancer survivors comes into effect today, 15 October 2026 (accessed 9 November 2026)
• Revenue: Stamp Duty Manual Part 9, Levies, reviewed January 2026 (accessed 9 November 2026)
• Laya Life and Vhi: published life cover and mortgage protection prices (checked 9 November 2026)