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Your One Direct Term Life Plan - Frequently
Asked Questions
One Direct aims to make our term life assurance plan easy to understand.
We have developed a comprehensive list of questions and answers relating
to our term life plans. For further details, please contact us on 1890
22 22 22.
Term Life Assurance - FAQ
What is Additional Children's
cover?
What is the Conversion
Option?
What is a Dual Life Plan?
What is Level of Life cover?
What is a Single Life Plan?
What is Sum Assured?
What is the Term of the Plan?
What is Additional Children's
cover?
During the term of your plan all children between the ages of 3 months
to 18 are automatically covered for €4,000 death benefit in the event
of their death. We also continue to provide this life cover for children
up to the age of 21 in full time education.
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What is the Conversion
Option?
The conversion option which, if chosen, allows you to take out another
Term Life Assurance policy before your original policy expires, without
giving any additional medical evidence. The new policy will be subject
to the normal terms and conditions of a Term Life Assurance Policy that
apply at the time of conversion. It cannot provide a Death Benefit greater
than the original policy and the premium will be based on the rates available
at the time you exercise the conversion option. The new policy can be
taken out for a term of 5 to 40 years subject to a maximum age which is
currently age 79. However, the maximum term and age are subject to change
and will be determined by the rules in place at the time you choose to
exercise your conversion option.
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What is a Dual Life Plan?
A Dual Life plan provides cover for both yourself and another person.
If your policy provides death benefit for two people, the policy will
continue to provide cover on the surviving life should the other person
die.
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What is Level of Life cover?
Level of life cover is the lump sum payable to your dependants/ beneficiaries
upon your death. This is sometimes referred to as the sum assured or lump
sum benefit.
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What is a Single Life Plan?
This is a life policy, which covers one person only.
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What is Sum Assured?
This is the agreed amount, which will be paid on your death to whatever
party you decide. This may also be referred to as the lump sum benefit.
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What is the Term of the Plan?
This is the number of years for which your Level Term Life Assurance Plan
is valid. You can select any term from 5 to 40 years, depending on your
age, but the maximum is up to age 79.
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