What Is a Life of Another Insurance Policy – And Why It Might Save You Thousands
When it comes to life insurance, many people in Ireland don’t realise that you can take out a policy on someone else’s life — and that it could be a powerful tool in protecting your finances. This is called a “Life of Another” policy, and it’s especially useful for unmarried couples, business partners, or anyone dealing with inheritance tax risks.
This guide explains when and why a Life of Another policy is relevant — for example, in cases where a cohabiting partner might inherit a property but be hit with thousands in inheritance tax due to a lower tax-free threshold. With proper planning, a Life of Another policy can cover this liability completely tax-free, offering peace of mind and financial security.
We’ve broken it all down in a short, easy-to-read eBook from BeatTheBank.ie. Whether you’re in a relationship, a partnership, or own shared property, it’s worth five minutes of your time.
Click here to open the “Life of Another” eBook (PDF)
Are You a Smoker Without Realising It? What Insurers Really Count as Smoking in Ireland
When it comes to life insurance in Ireland, many people are surprised to learn that being labelled a “smoker” isn’t just about lighting up cigarettes. Even if you only vape occasionally, use nicotine gum, or haven’t touched a cigarette in months, insurers may still classify you as a smoker — and that can significantly increase your premiums.
In this quick guide, we explain how insurance companies in Ireland define smoking and nicotine use, and why it matters. The distinctions may seem small, but they can have a big financial impact over the lifetime of your policy. Whether you’re applying for cover or reviewing an existing policy, it’s important to understand how your smoking status is assessed.
We’ve included a downloadable PDF from BeatTheBank.ie that breaks down everything you need to know — including what counts as smoking, what you can do if you’ve quit, and how to get the best value from your policy. If you’re unsure whether your occasional habit affects your insurance, this is essential reading.
Click here to open the full guide on Smoking and Vaping (PDF)
Switching Your Mortgage? Don’t Forget Your Mortgage Protection.
If you’re one of the thousands of Irish homeowners considering switching your mortgage, you’re not alone – and you might be making a very smart move.
According to the Banking & Payments Federation of Ireland (BPFI), nearly 4 in 10 new mortgage approvals are from switchers – not first-time buyers. That’s a clear sign that more homeowners are shopping around, comparing rates, and looking for smarter ways to save.
But if you’re switching lenders, there’s one important detail that many people overlook:
You can (and should) switch your mortgage protection, too.
Why Do People Switch Mortgages?
Mortgage switching in Ireland is growing for good reason. You can save money by:
🔹Reducing your monthly payments
🔹Paying less interest over the term of your mortgage
🔹Reducing your term so you can pay off your mortgage faster
🔹Releasing equity in your home
Source: CitizensInformation.ie
And while you’re reviewing your mortgage, it’s the ideal time to review your mortgage protection insurance too.
Can You Switch Mortgage Protection? Yes — Even Without Switching Your Mortgage.
Many people believe their mortgage protection is tied to their mortgage – but it’s not.
✅ You can switch mortgage protection independently, any time.
✅ You don’t need to change lenders to do it.
✅ You could save hundreds per year by reviewing your cover.
This is one of the most overlooked money-saving opportunities in the Irish market.
Why BeatTheBank.ie?
At Beat The Bank, we’ve helped thousands of Irish homeowners switch to better mortgage protection – fully online, and often for much less than the banks charge.
Here’s why switchers choose us:
💻 100% online – no paperwork, no phone calls
⚡ Instant quotes from top Irish insurers
💶 Up to 40% cheaper than the banks
🌟 5-star rated on Trustpilot
🔒 Fully regulated & transparent
When Should You Switch?
You should think about switching your mortgage protection if:
🔹You’re switching mortgage lenders
🔹Your policy is more than 2–3 years old
🔹You originally bought cover from a bank
🔹You want cheaper monthly premiums
🔹You haven’t reviewed your policy in years
The Bottom Line
If you’re switching your mortgage, it’s the perfect time to switch your mortgage protection too.Even if you’re not switching your mortgage, you could still be overpaying — and saving could be just a few clicks away.
💻 Get your instant mortgage protection quote at BeatTheBank.ie
📖 Read more helpful information on our Learn page
When Should I Apply for Mortgage Protection?
When Should I Apply for Mortgage Protection?
If you’re buying a home in Ireland, Mortgage Protection is one of the key steps you’ll need to take before drawing down your mortgage — but many buyers aren’t sure when exactly to apply. Too early and things can expire. Too late and you might hold up your drawdown. Here’s how to get the timing just right.
First: What Is Mortgage Protection?
Mortgage Protection is a life insurance policy that pays off your mortgage if you pass away during the term of the loan. In most cases, it’s a legal requirement before your lender releases the funds.
So, When Should You Apply?
The ideal time is once you’ve identified the property you want to buy and know how much your mortgage will be. That usually means after going Sale Agreed and having formal mortgage approval in place.
Here’s why:
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Your lender will need the policy details to finalise your drawdown.
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If any medical information is required, underwriting can take several days (or longer).
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You don’t want a last-minute delay caused by paperwork or health queries.
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We can often hold your approval for a number of months if needed, so it’s worth getting ahead of it.
Applying around 6–8 weeks before drawdown usually gives plenty of breathing room.
What If You Have Health Conditions or Medical Queries?
The earlier you apply, the more flexibility you’ll have. If your insurer needs extra info from your GP or requires medical follow-up, that can take time. Getting a head start ensures these won’t cause delays later.
If too much time passes between approval and drawdown, we may simply ask you to confirm your health status hasn’t changed — it’s a quick declaration in most cases.
Don’t Just Accept the Lender’s Quote
Lenders often offer Mortgage Protection policies, but they’re rarely the best value. At BeatTheBank.ie, we typically save customers money by sourcing cover from a panel of providers — and we’ll make the process fast, simple, and entirely digital.
Can I switch providers if I already have cover?
Yes, absolutely. If you’ve been told to go with your bank’s policy – but it’s pricey – you’re not locked in. You can switch your Mortgage Protection policy at any time, even after your mortgage starts. And chances are, you’ll save.
The bottom line?
Once you’ve picked your property and your mortgage is approved, it’s the perfect time to sort your Mortgage Protection.
We’ll handle the paperwork, chase the underwriters, and keep everything moving — so you can focus on your move.
We’re here to make it fast, easy and affordable – get a quote today and tick that box off your list ✅
Vaping, Nicotine & Life Insurance: What Irish Insurers Really Count as Smoking
If you’re applying for mortgage protection, life insurance or income protection in Ireland and you vape – or only smoke socially — you might be thinking: “Sure I’m not technically a smoker, right?”
You’re not alone, we hear this all the time at Beat The Bank.
Many people are surprised to learn that even the occasional vape on a night out, or the odd nicotine patch, means you’re classed as a smoker by insurers — and that has a direct impact on the cost of your cover.
So, what exactly counts as a smoker for life insurance in Ireland? Let’s walk through what insurers in Ireland count as smoking, the risks of getting it wrong, and how Royal London’s non-smoker declaration could make things easier if you’ve been nicotine-free for 12 months.
What Counts as a Smoker for Life Insurance in Ireland?
When it comes to life insurance, mortgage protection and income protection in Ireland, most providers use a strict definition. You’re considered a smoker if you’ve used any form of nicotine in the last 12 months. That includes:
🔴 Tobacco products: cigarettes, rolling tobacco, cigars, snus, etc.
🔴 Vapes or e-cigarettes
🔴 Nicotine patches, sprays, or gum (NRT : Nicotine replacement therapy)
We hear this a lot:
“But I only vape – I haven’t smoked a cigarette in years!”
“I just have one now and again when I’m out.”
Unfortunately, insurers don’t look at frequency. If you’ve had any nicotine in the last 12 months — even once — you’re still considered a smoker for life cover purposes.
That applies to all forms of cover:
✔️ Mortgage Protection
✔️ Life Insurance
✔️ Income Protection
It doesn’t matter whether you’re a daily smoker or just someone who vapes at the weekend. One use within the last year? Smoker rates will apply to you.
Smoker Rates = Higher Premiums
Smoker premiums are higher because insurers view nicotine users as higher risk. That’s not new — and it’s not something we need to preach about. If you smoke, you already know the risks.
But many people don’t realise that vaping, using NRT, or being a “social smoker” also pushes you into the same premium category.
Here is a recent cost analysis conducted by Royal London Ireland to illustrate the difference between premiums paid by non-smokers and smokers for Level Term Assurance Life Cover:
Can You Just Say You’re a Non-Smoker?
Tempting as it might be to tick the “non-smoker” box and hope for the best — it’s never worth it.
It’s the same with your medical history, be honest, and there won’t be any issue in the event of a claim.
Insurers check. It’s not worth the risk.
Good News: Royal London’s Flexible Non-Smoker Declaration
Let’s say you were a smoker, but you’ve been completely nicotine-free for 12 months. With most providers, switching to non-smoker rates means starting from scratch — a full re-application, new underwriting, and potentially higher pricing based on your age and health.
Royal London are different.
If you’ve been off all nicotine for 12 months, you can submit a simple non-smoker declaration — no reapplying, no starting over — and they’ll switch you to non-smoker rates.
That’s a unique feature that makes them stand out. And it’s one of the reasons why we work exclusively with Royal London at BeatTheBank.ie.
At Beat The Bank, we quote across the market to compare the main five life insurers in Ireland. Then we take the lowest price, match it, and go further — by using our market-leading discount from Royal London, and sacrificing part of our commission to give you the lowest price available.
We partner exclusively with Royal London because they consistently come out on top — both on price and on policy benefits.
What To Do Next
Have you been off nicotine for 12 months? Congratulations — let’s make sure your cover is reflecting that.
Get in touch today and let’s get you set up with non-smoker rates.
📩Contact us at unbeaten@beatthebank.ie
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