The average age for specified illness claims is 53. (Source: Irish Life Claims 2019)
Life / Income / Mortgage Protection
- Life / Income / Mortgage Protection
Contact Us
- Aeta Place. Gortnakesh, Cavan, H12 K4C8
- 42 Dublin St, Monaghan, Co.Monaghan
- +353 (49) 432 6841
- info@keyfinancials.ie
Mortgage Protection
Life has a habit of throwing up unexpected surprises. By having adequate protection in place you can ensure that your family are protected should the worst happen. Many people will have mortgage protection in place which will pay off their mortgage should they die within the term of their mortgage. However, they do not consider the effect the death or serious illness of either parent would have on the family should the worst happen.
Whole of Life Cover
A Whole of Life policy will provide protection to your family on your death irrespective of when your death occurs. The cost of this product differs widely between different providers and it is therefore important to obtain Impartial advice so that you are aware of the terms, conditions and benefits of each policy. Typically these policies are set up as Section 73/73 and used for inheritance tax purposes.
Term Life Assurance
A Term Assurance policy will pay out a Tax Free lump sum to your family on your death if you die during the term of the policy. Term Protection is cheaper than Whole of Life Cover as it will only pay out if you die within the term of the policy.
The following options can be added to your Life Assurance Policy:
- Indexation – Premiums and Benefits will increase annually to reduce the impact of inflation on your benefits
- Convertible – Option to convert your policy to a new policy in the future without having to provide further medical information
- Serious Illness Cover
- Hospital Cash Cover – This will pay a specified amount to you for each night you spend in Hospital
- Accident Cash Cover – This will pay a weekly amount if you are unable to work due to an Accident
- Monthly Income Benefit – This will pay your family a monthly income should you die
Serious Illness Cover
Serious Illness Cover will pay a Tax Free Lump sum if you are diagnosed with a specified Serious Illness. This will provide cover for you and your family when you need it most. The last thing you will want to think of in this situation is money. An adequate Serious Illness policy will ensure that you can concentrate on getting better without having to worry about your finances.
Cancer Cover
Every 3 minutes in Ireland someone gets a cancer diagnosis. Every hour in Ireland someone dies from cancer. (Source: Irish Cancer Society May 2021)
Cancer Cover will pay a Lump Sum if you are diagnosed with Cancer, as specified in the policy, to help with the extra financial burden caused such as:
- Increased Medical Costs
- Reduction in Earnings
- Increased Out of Pocket expenses such as travel expenses to appointments which may be a considerable distance away
Income Protection
Income Protection provides a replacement income should you be unable to work due to Any Illness, Any Accident or Any Disability.
There is a 1 in 6 chance that you will be out of work for 6 months* or more during your working life. That’s the same odds as throwing a dice! (* Source: Central Statistics Office, 2007)
Your Income is your Most Important Asset – Your income pays for all your outgoings:
- Home
- Car
- Food
- Clothes
- Heat and Energy
- Children Costs
- Entertainment and Holidays
If you were unable to work could you survive on the State Illness benefit of €188 per week?
Employers aren’t obliged to pay for Sick Leave!
Income Protections Premiums qualify for Tax Relief
Income Protection Benefits are paid until you are able to return to work or until you retire
As an Independent Financial Broker, Key Financials highly experienced and qualified financial advisers will provide you with quotes from a number of providers and we will explain the differences in each policy.
CONTACT US
- Aeta Place, Gortnakesh, Cavan, H12 K4C8
- +353 (49) 432 6841
- info@keyfinancials.ie
RECENT NEWS
