Life irish life DD only - odd?

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BoscoTalking

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We switched from Irish Life recently because we were paying last year Direct Debit and then the cautious in me said lets pay this year by cheque and have done with it.
But they refused and returned our money and told us it was DD or nothing. It was through a broker but i thought it was mighty odd - it was full payment and we are very low risk compared to many i am sure.

Has this happened anyone else?
 
Its true. Irish Life only accept direct debit mandate for life assurance policies as the method of payment unless the premium is over €3,000.

They will take an annual direct debit though so if you wish to pay in one lump, this is fine, they take the full amount 6-10 days after the commencement date of the policy.

The most likely reason why they do this is for their own ease of administration, all the other life companies will accept a cheque or bank draft for payment. It also saves them sending reminder letters in subsequent years if someone forgets to pay their renewal premium.

Dont take it personally, its just a commercial decision they have made to cut down on costs.



www.CheaperLifeAssurance.ie
 
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