Price wars have broken out among life insurance companies with one insurer offering free TVs to entice consumers to switch.
Life insurance, which is compulsory on Irish mortgages, can add significant burdens to household outgoings every month.
But insurers seeking to increase their slice of the market are offering incentives to customers to switch providers.
Zurich Life has cut some of its life insurance premiums by up to 10%.
As part of a promotion it is currently offering, First Credit Assurance is offering to pay the next €250 in gas or electricity bill to householders who sign up with them, or a free TV to the first 1,000 customers who switch over.
Insurers are fighting for custom as the mortgage market has stagnated.
Insurance brokers say that life insurance and mortgage protection policies have fallen by up to 25% in the past two years and advise customers to phone around in search of the best deal.
SmartQuotes.ie is offering cover free to new parents for a year, for a maximum cover level of €50,000.
