Financial Protection for all the Family

A flexible plan which allows change, through the Life Cycle can be the answer. Every family’s needs are individual, so get a tailor made package to suit YOUR needs at all stages.

You can take out a short term plan with a large sum assured for when you need cover most, and convert it to a lifelong plan with a smaller sum assured at a later date. Both plans have specific cost and cover so you can have certainty and peace of mind.

Mortgage Protection

• Provides reducing cover over the term of the mortgage
• A fixed premium, at outset, to provide lump sum, which will clear outstanding loan.
• Specific to original terms of loan, not flexible if loan or duration increase
• Lender, generally, takes an assignment which allows them clear loan on claim

Often, a Mortgage Protection Plan is taken out at the time of getting the mortgage and is not high on the order of priorities of the borrower. The Premium Rates for these policies have reduced in recent years (subject to normal underwriting). If your policy is more than 5 years old, it may be worth getting a quote which might save you a considerable amount over the life of the mortgage.

Specified Illness/Income Protection

With Medical advances, people are more likely to survive serious illnesses. But this means that more people are likely to take prolonged periods off work for treatment and recovery. This has a huge impact on their income and as a result can hinder recovery.

It’s estimated that €50,000 would last 17 months, based on monthly outgoings of €3,000.

There are two distinctly different protection plans to safeguard against financial loss as a result of illness or injury!

Specified Illness

• Pays a pre-selected amount, 14 days after the diagnosis of one of a number of specific illnesses
• Will allow you to replace income, pay bills or make necessary home alterations
• Cancer and Heart related illnesses add up to 80% of claims
• Irish Life paid out Specified Illness claims valued €192,000, every working day in 2015
• Would allow you the time and space to recover, without financial distractions.