Should I Get Life Insurance
So you’re here because you’re thinking you should do the grown up thing and get some life assurance or something but you haven’t an iota where to start !
Life insurance is mind boggling and confusing and quite frankly boring
Life may be like a box of chocolates. Life insurance should not be .
Know How Much Cover You Need
Often , people underestimate how much life insurance they need. Often only the major debt, such as a mortgage are thought about.
But what about everyday bills, , pay for college tuition or cover any other long-term needs. All very well having the mortgage paid but lets call a spade a spade you cant eat a house !
One rule of thumb is to have a policy with a death benefit equal to at least 10 times your annual salary. But that won’t be possible for everyone as everyone is different We can help you come up with an amount that suits you and your pocket .
Shop Around for the Best Price
Many insurers make it easy to get quotes and even buy polices online.
While that is great and handy you might think , this is where we come in . We work with several insurance companies and can help you find the best cover at the best price. The computer isn’t going to pick up that even though John and Mary may need €500k life cover they just cant afford it .
This is where an advisor comes in and can tailor make a package to suit you at a price you can afford . Some cover is better than none . It’s not all about the commission you know . Don’t think cheapest is worst or the most expensive is best. All the providers have different strengths and weaknesses just like us . Dave is a tech challenged but makes a great cuppa I on the other hand well can’t make tea to save my life !! 😊
Tell the Truth on the Application
You’ll be asked questions about your age, weight, personal medical history and mental health, family medical history and smoking habits.
I have lost count the number of times someone has hesitated on an answer and I can see the cogs turning “ should I mention that back pain or that annoying heartburn “
Yes tell everything let the insurer decide if it’s important or relevant or not, not you !
While there is lots of questions at the application stage this is to ensure at claim stage there isn’t any problem.
The building blocks of your Financial Plan
1 Income Protection Your income is your biggest and most important asset without it, everything stops. This the key to good financial planning
2 Family Life Cover Once your income is secure and protected, then we can look at how to protect those you love if you’re not around anymore .
3 Pension / AVC’S
A pension is the most tax-efficient way of saving for your retirement The more you save now, the more you have to enjoy when you retire. It’s that simple.
Book a Financial Review ! It could save you thousands 🙂