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Single Life Convertible

David is a 46 year old divorced father of three children. Although the children still live with their Mother, he wanted to protect their financial future in the event of his untimely death.

In order to do so he took out a €1,500,000 life assurance policy for a term of 20 years with an option to convert the policy in whole or part at the end of the term. This is called Convertible term assurance. The policy was written in trust for the benefit of his three children. The monthly cost is €198.28

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