Family Protection At Acorn Life
The main purpose of financial protection is to make sure you or your family won't have financial problems if a misfortune like an accident, death or illness happens in your family. All protection policies are designed to replace lost income and provide a money benefit when it is needed most.
Think of all the things that would still need to be paid for - the mortgage, the bills, day-to-day living expenses, children education expenses and so on. These won't go away if you or your partner cannot work or you die.
Acorn Life's Life Plan
Acorn Life's Life Plan offers a wide range of cover against things that could affect your family, such as illness, death, an accident or a stay in hospital. In addition, there is an option to include children's protection benefits in the Life Plan.
Benefits can be arranged for both you and your partner, for similar or different amounts within the same plan.
Not only that, but we have designed the plan to change as your needs change, so that you have the financial security you need at every stage of your life. If you already have a protection plan with us, then you may be able to enhance existing protection options at a very reasonable cost.
If you would like to know more about Acorn Life's Life Plan click here.
Your Questions Answered
The many types of protection and all the options available can be very confusing and complicated. Here you will find the information you need about the different types of protection you could get so that you can to make your decisions with confidence.
Life Cover is money an insurance company pays to your beneficiary when you die. The company pays this amount, the sum assured, in return for your payment of premiums. Life cover provides a tax-free lump sum to help your family maintain the same standard of living that you enjoy today, should you die.
Why do I need Life Cover Benefit?
If other people are dependent on you and will suffer financially when you die, you need life cover. It is needed to compensate for the loss of regular income, and to clear outstanding loans and provide for your children in the event of your death.
How much Life Cover Benefit do I need?
It is recommended that life cover equal 10 to 15 times annual income. Needs will vary from person to person, depending on assets, outstanding loans, other income sources and social welfare benefits payable.
Critical Illness Benefit is money an insurance company pays to you on diagnosis of a critical illness, such as cancer, stroke or heart attack. The company pays this amount, the sum assured, in return for your payment of premiums. Critical Illness Benefit provides a lump sum to provide financial protection in the event of a critical illness.
With advances in medical science and the consequent increase in life expectation, the need to protect you and your family is paramount. If you were unfortunate to suffer a heart attack, stroke or cancer, how would you cope financially with loss of income, education fees, mortgage repayments, medical bills, home adaptations and convalescence?
How much Critical Illness Benefit do I need?
As a rule of thumb, it is recommended that Critical Illness Benefit equals 5 times annual income. Needs will vary from person to person, depending on assets, outstanding loans, other income sources and social welfare benefits payable.
Hospital Cash Benefit is money an insurance company pays to you if you are hospitalised. You must be in hospital as an in-patient for a consecutive period of at least 72 hours (three days and nights) before this benefit is paid. The company pays this amount in return for your payment of premiums.
Why do I need Hospital Cash Benefit?
If you were unfortunate to be hospitalised for an extended period, how would you cope financially with loss of income, education fees, mortgage repayments, bank loans, utility bills, medical bills, and home adaptions, convalescence?
How much Hospital Cash Benefit do I need?
It is recommended that Hospital Cash Benefit should be sufficient to meet any hospitalisation costs including loss of income. Needs will vary from person to person, depending on other income sources, health insurance and social welfare benefits payable.
Surgical Cash Benefit is money an insurance company pays to you on the performance of certain surgeries. The amount paid will depend on the classification of the surgery. The company pays this benefit in return for your payment of premiums.
Why do I need Surgical Cash Benefit?
If you needed surgery, how would you cope financially with the medical bills and the loss of income during your convalescence?
How much Surgical Cash Benefit do I need?
The benefit amount offered at outset is €20,000. We will pay an amount of 100% of the Surgical Cash Benefit for a major surgery or 50% of the Surgical Cash Benefit for an intermediate surgery, up to a maximum of €100,000 in respect of one life.
Accidental Injury Benefit is money an insurance company pays to you if you sustain certain injuries by means of an accident. The amount paid will depend on the type of injury you sustain. The company pays this benefit in return for your payment of premiums.
Why do I need Accidental Injury Benefit?
If you were unfortunate to have sustained an injury by means of an accident, how would you cope financially with loss of income, mortgage repayments, bank loans, utility bills, medical bills and convalescence?
How much Accidental Injury Benefit do I need?
The benefit amount offered at outset is €4,000. We will pay either 25%, 50% or 100% of this depending on the type of injury sustained. For example, if you fractured your wrist we would pay 25% of the benefit amount or if you dislocated your hip we would pay 100% of the benefit amount.
Accidental Death Benefit is money an insurance company pays to you in addition to your Life Cover Benefit if you die due to an accident before your 65th birthday. The amount paid depends on your Life Cover Benefit. The company pays this benefit in return for your payment of premiums.
Why do I need Accidental Death Benefit?
By its very nature, accidental death is very sudden and can leave your family vulnerable to financial problems. The extra benefit received through the Accidental Death Benefit will help them to cope financially.
How much Accidental Death Benefit do I need?
The benefit amount offered by Acorn Life is an additional payment on accidental death equal to your Life Cover Benefit (to a maximum of €200,000 at outset).
Personal Accident Benefit is a weekly payment paid out in the event that you sustain one or more of the specified injuries by means of an accident and are out of work as a result.
Why do I need Personal Accident Benefit?
If you are unfortunate to have sustained an injury by means of an accident, how would you cope financially with loss of income, mortgage repayments, bank loans, utility bills, medical bills and convalence?
How much Personal Accident Benefit do I need?
The benefit amount offered at outset can be an amount between €200 and €500 per week. Note: No payment is made for the first two weeks of disability.
Premium Protection Benefit is an optional benefit available to the first life on the policy. If this benefit is chosen from the outset and before the first life's 65th birthday, they cannot work for six consecutive months because of illness or injury, Acorn Life will pay all future premiums until such a time as they are fit to work.
Important: Please note that the above are only brief summaries of the features of the Life Plan. The full terms and conditions are set out in the Life Plan Policy Provisions. Some of the charges on the Life Plan product are not applied uniformly throughout the life of the product but are deducted in the early years. If you withdraw from the policy in the early years the surrender value, if any, is likely to remain below the level of premiums paid into the policy given that the policy is primarily intended to provide protection benefits and not an investment return.
For a summary of our Fees and Charges please click here.
| Warning: Past performance is not a reliable guide to future performance. |
| Warning: The value of your investment may go down as well as up. |
| Warning: If you invest in this product you may lose some of the money you invest. |
| Warning: This product may be affected by changes in currency exchange rates. |