Financial Protection.

We are all at risk – risk of dying – of not being able to work – of contracting a serious illness and so on but how much are YOU personally at risk – this simple risk calculator from Friends First might help…..

Risk Health Calculator

Feeling better or worse after that? Below are the solutions to the risks we all may one day have to face. Please contact us if you would like some more in depth information, comparisons or quotations as there are large variances between products and providers.

Life Assurance

The thoughts of dying are terrifying for most of us but we all know that it is definitely going to happen…. Someday. Isn’t the thought of passing away & leaving your family in financial strife just as terrifying? Term assurance ensures that your family will have some financial resources to survive without you. You set the plan up for a fixed amount & fixed term with a fixed monthly premium.

How much cover might I need?  Try this Calculator –
https://www.irishlife.ie/life-insurance/life-insurance-calculator/lifelens

Want to know your BMI (Body Mass Index) – here you go:
https://www.irishlife.ie/sites/retail/files/ask-underwriting/bmi-calculator.html

Mortgage Protection

Protect your biggest financial commitment. Mortgage Protection does exactly as it says on the tin! Essentially this cover pays off your mortgage should you die, therefore ensuring that your survivor(s) have a roof over their heads at the very least. It decreases annually, in line with your mortgage therefore it is cheaper than Term Assurance.

Specified Illness:

This plan pays you a lump sum should you contract 1 of the numerous illness covered by the policy.  These tend to be the more serious types of illness – in the 2016 claims statistics published by  Irish Life, 59% of all claims were for Cancer and 21% were for stress. Source Irish Life.

The lump sum payable would allow you time to recuperate, pay medical expenses or perhaps make alterations to your home if necessary.  The amount of cover you chose is fixed like Term Assurance as is the term and cost of the cover.

Income Protection:

Income protection insurance pays out a regular cash payment that replaces part of your lost income if you can’t work due to a medium to long-term illness or disability. It is offer on a “non-specific” basis ie it covers ANY illness that stops you from doing your job unlike Specified Illness cover which pays a lump sum to you if you contract one of the many illnesses specified.

Watch this short video to see how Income Protection works:

Pension Term Assurance:

Fancy getting tax relief on your life policy?

Well – if you are self-employed or in employment and are not part of a pension scheme then you could qualify to set up a Pension Term Policy. Essentially this is a life policy with tax relief payable on premiums paid at your rate of tax.

All of the above Options are explained in the attached brochure:
http://www.bline.ie/uploadedFiles/bline/Protection/Protection_Library/family_protection_guide.pdf?ts=1481645571958

This short video highlights the benefits of how life changing income protection can be:

To see how much cover you may require, please try this handy calculator from Aviva:

http://www.aviva.ie/broker/lifepensions/calculatorstools/incomeprotectioncalculator/

Note – not every occupation can avail of income protection but we may have another alternative available – please contact us for further information.