Personal Protection

Personal Protection

Because people depend on you…

As the name suggests, Life Cover will pay a lump sum to your family in the event of your death. No one knows what the future holds, so it’s good to know that your family’s financial position is assured if something should happen to you. This is why it’s so important to have adequate life cover.

One important question to ask yourself is “how long would my family survive on my savings if I died?” You may be fortunate and not be fazed by such a question but the majority of the people we advise are insufficiently covered.

The amount of life cover you require depends on where you are in your life cycle. For example, a young single person does not have the same needs as that of a married couple with a family.

Even if you already have some form of Life Cover it is always worth reviewing it to make sure it is suitable and cost effective. For instance, you might have Life Cover to protect the mortgage on your house, but if that cover is linked to a property, there may not be much left for your family to live once the mortgage has been paid.

To see how much cover you may need just use the calculator below.

Life Cover Calculator

Look After Yourself

Everyone gets sick from time to time. In fact, the statistics are quite alarming. One in four men and one in five women will become seriously ill before they reach 65.

  • Specified Illness insurance pays you a lump sum if you are diagnosed with one of a list of illnesses, such as malignant cancer, heart attack and stroke.
  • The average age of claimants for specified illness cover in 2010 was only 47 with over 80% of claims for cancer and heart disease (Irish Life claims survey)

While we are living longer for many of us a serious illness could change life forever which is why it’s so important to make provision for such an event. .

Plan for the unexpected

No amount of money will make up for suffering a serious illness. However, with a bit of prudent planning, you won’t have to worry about money while you are getting back on your feet.

Specified illness protection covers the following illnesses: Cancer, Emphysema, Heart Attack, Blindness Stroke leaving permanent damage, Paralysis, Multiple Sclerosis, Kidney Failure, Muscular Dystrophy, Loss of Hearing, Motor Neuron Disease, Chronic Liver Disease, Rheumatoid Arthritis, and Benign Brain Tumours.

Protect Your Lifestyle If You Can’t Work

Most people have house insurance and car insurance – we even insure our pets, but what about our most valuable asset – our ability to earn an income. If you were unable to work, would you still enjoy the same lifestyle? More importantly, would you still be able to meet your monthly financial commitments, such as:

  • Mortgage payments
  • Groceries
  • Heating costs
  • Fuel bills
  • Utilities
  • Holidays & socialising
  • Children expenses

It’s very unlikely that any state assistance will cover all your commitments. Fortunately, there’s an easy solution – Income Protection. An income protection policy will pay your income up to age 60 or 65 should you be unable to do your own job for any medical reason.

To see how much income protection you need just use the calculator below.

Income Protection Calculator

Financial Planning Standards Board

Professional Insurance Brokers Association

Certified Financial Planner