Insurance (Leaving Cert Home Economics): Flashcards
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Practise the cards
15 cards from this deck
Life assurance protects
Life assurance protects
Loved ones financially if you pass away
Term life assurance coverage period
Term life assurance coverage period
Set period of time
Cost advantage of term life assurance
Cost advantage of term life assurance
Lower premiums than permanent life cover
Whole of life assurance duration
Whole of life assurance duration
Throughout entire lifetime
Whole of life cash value feature
Whole of life cash value feature
Builds savings value you can access
Whole of life best suited for
Whole of life best suited for
Leaving money to family or funeral expenses
Endowment life assurance combines
Endowment life assurance combines
Life protection with savings element
When endowment policy pays out
When endowment policy pays out
On death during term or at maturity
Income protection insurance replaces
Income protection insurance replaces
Part of salary when can't work due to illness/disability
Income protection typical coverage %
Income protection typical coverage %
Up to 75% of normal earnings
Critical illness insurance pays
Critical illness insurance pays
Lump sum for specified serious conditions
Conditions critical illness covers
Conditions critical illness covers
e.g. Cancer, heart attacks, strokes
Private health insurance covers
Private health insurance covers
Medical treatment in private hospitals/clinics
Main benefit of private health insurance
Main benefit of private health insurance
Faster access, shorter waiting times
Term life assurance ideal for
Term life assurance ideal for
Covering debts like mortgages or supporting dependents