The survey used four consumer profiles to gather quotes from six of the main insurance companies in Ireland on term life insurance, mortgage protection insurance and whole of life insurance. All quotes are correct as at 3rd February 2014.
The survey revealed that consumers can make potential savings of up to €3,087 on mortgage protection insurance and couples could potentially save up to €5,687 on dual term-life insurance and €3,881 on joint mortgage protection insurance. Small differences in monthly premium payments can result in significant savings over the term of the policy. The survey also showed that smokers continue to pay a high financial cost for their habit, paying on average 85% more for their life insurance.
The most significant findings in relation to cost, showing the difference between the cheapest and most expensive quotes, were:
Download the full survey report (.pptx 450Kb)