Life Insurance is an effective way to ensure that, should you die prematurely, that your loved ones are left in a financially secure position. A position whereby they get to keep their home, stay in their neighbourhood, pay bills and put food on the table. Your children can remain in the school that you wish for them, and the proceeds of a life insurance policy can make this a reality, helping to finance their everyday needs until they are old enough to look after themselves. Your partner can have their financial pressures eased significantly.
There are many differences between one policy and the next, and at Keenan Financial Planning I can talk you through the various plans in finding the right one for you and your family. With cover starting from as little as €15 per month, it is an affordable way to give you peace of mind, and protect what matters most.
Mortgage protection is a life insurance policy that pays a specific lump sum upon death, to pay off the remaining balance on your mortgage. It is normally a condition of your mortgage agreement that you have this in place. Your mortgage provider may also insist that they take assignment of the policy. The policy amount decreases in line with your remaining term and balance, and the policy ceases when the term is finished. Provided you are in good health, mortgage protection is very simple and straightforward to set up.
Specified Illness cover is a product which, upon exact diagnosis of a listed specified illness, pays a lump sum to the insured for the amount covered. Each insurance company covers mostly the same illnesses, although their definitions can be different in certain circumstances. However at Keenan Financial Planning I always compare and contrast the full list of illness so that you the client are in no doubt as to what is covered and what is not.
The policy can be added in as part of your Life Insurance cover, Mortgage Protection cover or can be taken out as a separate policy. I will advise you as to the most cost effective way to effect this, where appropriate.
Your most valuable asset is your ability to earn an income.
Take a minute to think about what your income pays for. Your mortgage, your car, your bills, your shopping. It pays for everything around you. So doesn’t it make sense to protect the one thing that pays for everything?
Income Protection can cover up to 75% of your normal income (less disability benefit if eligible), and covers any injury, illness or accident. The policy benefits can be tailored to work alongside your current employer sick pay benefits. For example, if your employer pays for your first three months of long term illness, we can tailor an income protection policy to ‘kick-in’ straight after this period. Cover can last up until age 65.
There are various additional (rider) benefits that can be added on to life insurance and mortgage protection policies if and when appropriate. These include
- Hospital Cash Cover
- Personal Accident Cover
- Surgical Cash
- Broken Bones
- Indexation of Benefits
- Conversion Option
I can advise you on your current needs and if any of these additional benefits are necessary.