Protection
Mortgage Protection
WHY USE US FOR YOUR MORTGAGE PROTECTION?
Is the cost of mortgage protection the same across all of the life insurance companies?
Can I save money by reviewing the cost of my Mortgage Protection Policy?
If I pay a lump sum off my mortgage, can I save on my mortgage protection policy?
If either of the policy holder dies, does the money automatically go to the lender?
What is involved in obtaining mortgage protection cover?
What are the implications of not answering all of the life companies medical and lifestyle questions truthfully?
Can I be charged a higher premium if I have a medical condition?
Does the amount of the mortgage and term impact the cost of my mortgage protection?
Term Assurance
Why use us for your Term Assurance?
What is Term Assurance?
What are the different types of term life insurance policies?
Convertible Term – The conversion option can be included in your term assurance policy at inception allowing you to continue your policy after the initial policy term for another specific term or to change it to a whole of life policy without providing medical evidence.
Single, Joint or Dual Cover – Single life only insures one person. Dual Life covers both lives for either the same amount or different amounts, with the sum insured paid out on both lives in the event of death (Life Cover) or upon diagnosis of a Serious Illness (covered by the policy), almost as if both parties had separate policies. Joint Life covers both lives, for one particular amount & is paid on the event of the First Life Insured (ie Death or Serious Illness, covered by the policy)
- Whole of life
Some insurers offer life policies that insure you for your whole life, so long as the premiums are maintained. However, these policies are often more expensive than Term Assurance and the premiums are subject to review, meaning the amount you pay each month can be increased or the cover reduced.
- Pension Term Assurance
Pension Term Assurance is a type of Term Assurance designed to provide Life Cover to people in non-pensionable employment. It is the most cost effective form of Term Assurance and tax relief is available at the marginal rate of tax on the premiums you pay.
We will advise you on the most suitable term assurance policy for your circumstance.
Do I need Term Assurance?
How much cover do I need?
What is involved in obtaining Term Assurance?
What are the implications of not answering all of the life companies medical and lifestyle questions truthfully?
Can I be charged a higher premium if I have a medical condition?
What factors will affect the price of your Term Assurance policy?
What happens if I stop paying premiums?
Can I cancel a life insurance policy?
Do my dependants have to pay tax on my insurance policy?
Serious Illness Cover
Why use us for your Serious Illness Cover?
What is Serious Illness Insurance?
What is the difference between Accelerated Serious Illness cover and Standalone Serious Illness cover?
Accelerated Serious Illness – The policy will pay out if you are diagnosed with one of the listed illnesses or die within the term of the policy, in which case the policy will then end. However, if there is a serious illness claim, the life cover on the policy will be reduced by the amount of the serious illness claim paid.
Standalone Serious Illness – This runs alongside your life insurance cover, and is treated as a separate policy. For example, if you have a life insurance policy for €150,000, with additional serious illness cover for €100,000, the policy would pay out €100,000 if you were diagnosed with a serious illness covered by the policy within the term. If you died later on, within the term of the policy, it would also pay out the €150,000 life cover.
Single /Joint/Dual Life – Single life only insures yourself. Dual Life covers yourself and your partner for either the same amount or different amounts and Joint Life covers yourself and the partner for the amount on the first person insured.
How much does it cost?
- Whether it is Standalone or Accelerated: – Standalone Serious Illness insurance is more expensive as it is a separate policy, while Accelerated Insurance is an add on benefit that will pay out the policy if a claim is made, thereby reducing the life cover on the policy by the same amount.
- The amount of cover you take out and the term
- Smoking Status (Smokers will pay a higher premium, as the risk of them becoming Ill is higher than a non- smoker)
- Current and past health (if you have no medical condition you will be offered ordinary rates. However if you have a medical condition, there may be an extra cost called a loading.)
- Who the insurance will cover :- (It could be single cover for yourself or joint/dual cover for yourself and your partner.
- How old you are when you take out the cover
- Whether you want the serious illness cover on its own or added to a life insurance policy.
We will advise you on the best serious illness cover based on your needs and financial circumstances.
Do I need Serious Illness Cover?
If you are an employee and pay PRSI, the social welfare Illness Benefit or Invalidity Pension may replace part of this lost income, however, the benefits are low and if you are self-employed you are not covered by these benefits at all.
A serious illness policy could offer you financial stability and peace of mind if you are diagnosed with a serious illness in the future.
Do all Insurance companies cover the same Illnesses?
Every insurance company is different and will cover different illnesses. The precise definitions of each illness that qualifies for a pay-out will also likely differ, as will decisions on whether the full or partial sum insured is payable on a confirmed medical diagnosis of that illness.
We have software that enables us to compare the precise differences in each company with whom we have an agency with, allowing us to advise you on the most suitable serious illness plan for your unique circumstance.
Can the monthly cost increase?
Business Protection
Why use us for your Business Protection?
We understand the importance of ensuring yourself, your employees and your business is protected against unforeseen circumstances. As a business owner you may not know what insurance you need or how much of it you need. We are here to help you put together a customised insurance package tailored specifically for you ensuring the safety of your business.
What is Business Protection?
Are there different types of Business Protection?
Corporate Co- directors Insurance – In the event of the death of one of the directors, it allows the surviving directors to buy the deceased’s shares from their next-of-kin.
Partnership Insurance – This protects your business partnership by compensating a deceased partner’s estate for their share of the partnership
Keyperson Insurance – This protects your business in the event of a death of a key member of staff, whom the policy is assigned to. The policy will pay out a predetermined lump sum of the employee dies or suffers a specified illness.
How do I know what is right for my business?
What is Corporate Co-director Insurance and how will it protect my business?
How does it work?
What are the benefits to the company of Corporate Co- Director Insurance?
What is the main benefit to the family of the insured Corporate Co-director?
How is the level of premium decided?
What is Partnership Insurance?
What does it do?
How does it work?
Once the above have been decided on you will pay a regular basis during the term of the policy. The premium will be dependent on a number of different factors, such as the value of partnership etc.
What are the benefits to the company of Partnership Insurance?
What is the benefit to the family of the company Partner?
Any cover taken out should only be taken out if there is a partnership agreement in place.
What is Key Person Insurance?
Who is a “Key Person”?
What does it do?
How does it work?
What are the benefits to the company of Key Person Insurance?
Can Key person insurance benefit the employee?
Income Protection
Why use us for your Income Protection?
What is Income Protection?
Can everyone take out Income Protection?
How much will Income Protection cost?
- How old you are when you take out the cover
- How long you want the cover for
- The deferred period (the shorter the deferred period, the higher the cost)
- Your general health
- Smoker status
- Your occupation
Why are some occupations charged a higher rate?
If you are unsure what class your occupation is, we will ensure to get you the most competitive premium by researching every insurance company, with whom we have an agency with, as not all insurance companies rate occupations the same.
Do I need Income Protection?
- You are self-employed and would have no source of income if you couldn’t work due to illness or disability
- You have little or no sick pay from your employer
- You have no ill – health pension protection
- You have dependants who rely on your income
- You have no other source of income
- Benefits you may be entitled to would not be sufficient to replace your income to maintain your lifestyle and/or cover any loans or debts
How much income will I get?
Tax relief
What Deferred Period should I choose?
The deferred period is the amount of time you have to be out of work due to sickness or disability before a claim becomes payable. When you take out your policy, you can choose what deferred period would suit your needs best. Typically, this could be 4,13,26 or 52 weeks. When choosing a deferred period, we will advise you to check if your employer offers any sick pay, and for how long to avoid over-insurance. It will also depend on what you can afford as the shorter the deferred period is, the more expensive it will be.
How long can I be paid a claim for?
How many times can I claim on my policy?
What is not covered by Income Protection?
Health Insurance
Why use us for your Health Insurance?
What is involved in Switching Health Insurance Provider?
Will I have to Re-Serve Waiting Periods if I move from one Insurer to another
Generally, no, once you’ve served your waiting periods with your current plan provider, these will follow through to your new plan, unless you are upgrading cover.
Do all the Health Insurance Providers Offer the Same Plans
I’m Over 34 Years & New to Health Insurance
Will I Be Covered Immediately?
This will depend on the Waiting Period you may have to serve, which is the amount of time that must pass before you will be covered under your plan. There are 3 types of waiting periods: Initial, Pre-Existing & Upgrade.