Life Assurance and Protection – Are you covered?
Its very easy to be a bit overwhelmed or even anxious when we see the facts and statistics about serious illness and life assurance
Behind all those stats are real people trying to continue to hold families together, pay their mortgages and bills, despite the emotional struggle and toll that these life events take on them.
As financial advisors over the years we have seen this first hand with some of our clients. We’ve been there for the excitement of the first time buyer landing the mortgage, watching families grow and thrive, helping them fund college fees and family events, but unfortunately sometimes we’ve to witness when tradgety or illness strike.
Behind the numbers and statistics, there are real life people dealing with real life illnesses and bereavements
Financial Advisors are future planners – we help people with the future, sometimes it’s in planning the future they hope to have, sometimes it’s protecting them from a future that is unexpected and difficult.
There is a number of different types of Life Assurance and Protection plans on the market – a lot depends on your own particular circumstances and needs and we can advise on what plan best suits you.
The cover you and your family might need will depend on your circumstances:
- Your age.
- Whether or not you have dependants – and if so, how many.
- Your salary.
- How long you would like to be covered for.
- Your level of borrowings.
- The amount and type of existing savings and investments you have.
- Whether or not you have any existing cover in place, including benefits provided by your employer
- The regular income your family would need to maintain their current lifestyle.
“When thinking about cancer, people tend to focus on the treatment options and chances of surviving the disease. Not the families right across the country crushed by debt, struggling to make ends meet and facing an uncertain financial future.”* Averil Power, Chief Executive, Irish Cancer Society.
The good news is that life cover is not expensive and the younger and healthier you are, the more affordable the monthly cost of your life insurance.