Ireland Life Insurance Calculator
Calculate how much life cover you need in Ireland using HLV. Compare level term, mortgage protection, whole of life and Section 72 CAT-clearing policies. 2026 premiums.
Your Profile
Recommended Life Cover
Sum Insured
€1.58M
Shortfall vs existing cover: €1.35M
HLV Method
€1.58M
10× Income
€750.0K
Annual Premium
€1,177
Monthly Premium
€98
Level Term vs Mortgage Protection Premium Over Time
Age 40
Level: €1,279
MP: €720
Age 45
Level: €2,108
MP: €1,175
Age 50
Level: €3,303
MP: €1,833
Age 55
Level: €5,454
MP: €3,016
Age 60
Level: €8,960
MP: €4,944
Policy Type & Tax Treatment
Level term life: pays a fixed lump sum to your beneficiary if you die within the chosen term (10-40 years typical). The cheapest way to insure a family during child-raising and mortgage-carrying years. Premiums are NOT tax-deductible in Ireland, and the payout is free of income tax but may be subject to CAT unless held in trust for a spouse (spouse-to-spouse transfers are CAT-exempt).
How much life cover do you need in Ireland?
Use the Human Life Value method: present value of net income over the years your family would need replacement (typically 15-25), plus outstanding mortgage, other debts, around €60,000 per child for third-level education (TCD/UCD fees plus maintenance), and a final-expenses buffer of €10,000-€15,000. For a 38-year-old earning €75,000 with two kids and a €320,000 mortgage the number usually lands between €600,000 and €900,000 — far above typical employer death-in-service (usually 3-4× salary).
Level term vs mortgage protection vs whole of life
LEVEL TERM: fixed sum for the chosen term (10-40 years), the workhorse of Irish family protection. MORTGAGE PROTECTION: decreasing term tracking the loan balance, statutorily required to draw down a home loan (CCA 1995). WHOLE OF LIFE: permanent cover (3-4× level-term cost), used for estate planning. SECTION 72 POLICY: a Revenue-approved whole-of-life written in trust whose proceeds clear the beneficiary's Capital Acquisitions Tax bill — the payout itself is CAT-exempt, essential where illiquid assets (farm, business, high-value PPR) would otherwise force a forced sale.
CAT thresholds 2026
Capital Acquisitions Tax 2026 Group A (parent → child) €335,000, Group B (siblings/nephews/nieces/close relatives) €32,500, Group C (strangers/distant) €16,250. CAT rate on the excess is 33%. A child inheriting a €900,000 family home from a parent pays CAT on €565,000 = €186,450. A Section 72 policy for that sum clears the bill without the child selling the home.
2026 Irish term life benchmarks
Composite Royal London Ireland / Irish Life / Zurich / New Ireland quotes for €500,000 25-year level term, non-smoker: age 30 ~€18/month, age 40 ~€32/month, age 50 ~€85/month. Female lives ~16% cheaper. Smoker loading +95%. Remember the 1% government levy on life assurance premiums — included in quoted prices.
Common questions about Life Insurance
How much life cover do I need in Ireland?+
Use the Human Life Value method: present value of net income to replace (15-25 years), plus outstanding mortgage, other debts, around €60,000 per child for third-level education, and a €10,000-€15,000 final-expenses buffer. A 38-year-old earning €75,000 with two kids and a €320,000 mortgage typically lands at €600,000-€900,000 — far above the 3-4× salary death-in-service most employers provide.
What is a Section 72 life policy and when do I need one?+
Section 72 is a Revenue-approved whole-of-life policy written in trust whose proceeds are used solely to pay the beneficiary's Capital Acquisitions Tax bill at the insured's death. The key feature: the payout itself is CAT-exempt in the beneficiary's hands. Essential for estates where illiquid assets (family farm, business, high-value principal residence above the €335k Group A threshold) would otherwise force a distressed sale to pay CAT.
What are the 2026 CAT thresholds?+
Capital Acquisitions Tax 2026 Group A (child from parent) €335,000, Group B (grandchild, niece/nephew, sibling) €32,500, Group C (others) €16,250. The rate above the threshold is 33%. A child inheriting a €900,000 family home from a parent has a CAT bill of 33% × (€900,000 − €335,000) = €186,450. Section 72 proceeds cover that bill tax-free.
Level term vs mortgage protection vs whole of life?+
LEVEL TERM: fixed sum over chosen term (10-40 years), workhorse of family protection. MORTGAGE PROTECTION: decreasing term tracking the loan balance (mandatory under CCA 1995 for residential mortgages). WHOLE OF LIFE: permanent cover, 3-4× level-term cost, used for estate planning and Section 72 applications. Most Irish families need a combination: mortgage protection for the loan + level term for family income + Section 72 if estate is above CAT thresholds.
Is the life insurance payout taxable in Ireland?+
The payout itself is free of income tax and Capital Gains Tax. However, if the beneficiary is not your spouse or civil partner, CAT may apply if the sum exceeds the applicable Group threshold combined with prior gifts/inheritances. Spouse-to-spouse transfers are entirely CAT-exempt. A Section 72 policy written in trust is the main tool for ring-fencing proceeds from CAT — proceeds used to pay the CAT bill itself are tax-free.
What is the 1% life assurance levy?+
Since 2009, a 1% government levy applies to all life assurance premiums paid in the Republic of Ireland (Life Assurance Levy under the Stamp Duties Consolidation Act). Insurers bake this into the quoted premium — you do not pay it separately. It applies to both protection and investment-linked life policies. Pension and AVC contributions are NOT subject to the levy.
What are 2026 Irish term life benchmarks?+
€500,000 25-year level term, non-smoker, composite Royal London Ireland / Irish Life / Zurich / New Ireland quotes: age 30 ~€18/month, age 40 ~€32/month, age 50 ~€85/month. Female lives ~16% cheaper. Smoker loading +95%. Mortgage protection (decreasing) is roughly 45% cheaper than level term at the same initial sum. Always obtain at least three broker quotes — rates vary 20-30% for identical cover.