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Run for cover: 5 scary things that will make you want to get Life Insurance

April 25 2018 5 min read Life Insurance

5_scary_reasons_you_need_life_insurance

If you Google the most popular fears, you’ll get a list that looks like this:

  1. Fear of public speaking.
  2. Fear of death.
  3. Fear of spiders.
  4. Fear of darkness.
  5. Fear of heights.

Which means that most people find the idea of public speaking scarier than death.

Jerry Seinfeld has a great quip that sums it up: “To the average person, if you go to a funeral, you’re better off in the casket than doing the eulogy.”

scary_things_that_will_make_you_get life_insurance

But fears are funny: most people aren’t actually afraid of the fear. You’re not afraid of the dark – but of what’s in the dark. You know: the Boogeyman, a creepy clown with a knife, the crushing realisation that you don’t actually like people and that you’re slowly turning into your parents.

Death – well, death’s the kicker.

Which is why if you’re on this blog, you’re probably looking for reasons to get Life Insurance. You’re gonna find five of them – and I swear they get a bit more insightful after number one.

1. You’re gonna die

Hopefully aged 96 and surrounded by your loved ones (presuming you haven’t done anything to piss ‘em all off).

Death is the one certainty in life because even taxes are avoidable. (I’m not saying this is how they do it but there’s a reason all those millionaire celebrities are siphoning their funds into off-shore accounts or making declarations about losing $916 million dollars in a single year.)

So yeah. You’re gonna die. Doesn’t matter if you never smoke or drink and live your life like Ned Flanders.

life_inusrance_ned_flanders

2. Funerals are stupidly expensive

Apart from having a family (leeches, the lot of them), dying is one of the most expensive things that can happen to you – well, to your loved ones.

You can’t really bury them in a shoebox in your garden or flush them down the toilet like you did with your beloved family fish, Tuna Turner.

(What’s love got to do with it?)

According to Fanagans, a funeral care provider, you could be looking at coffin up thousands to cover:

  • Coffin selection.
  • Removal to the preparation room.
  • Enbalming
  • Transportation

On top of that are third-party costs like:

  • Grave purchase; from €1,400 to €9,000 and upwards.
  • Grave opening; from €450 to €1,200.
  • Cremation Fees; from €475.
  • Newspaper Announcements; from €230.
  • Flowers; from €59.
  • Organist’s fee; from €125.
  • Soloist’s fee; from €125.
  • Offering to Church; from €200.

You could say it’s a grave matter but that would be insensitive and not funny at all.

Tomb much?

3. Heart disease is Ireland’s biggest killer

Heart attacks, heart disease, lung cancer, COPD, and strokes are responsible for 31 percent of deaths in Ireland.

They also make up more than 70 percent of the top 10 causes of death.

Which makes for grim reading.

heart_disease_ireland_life_insurance

Would you be covered if you were one of the thousands of people who suffer an unexpected heart attack/disease or stroke every year?

Life Insurance or Serious Illness Cover would make all the difference to you or your family if your ticker gave in.

4. Life Insurance gets significantly more expensive with age

Life Insurance is a bit like a fine wine – it gets more expensive with age. A very fancy Latour (fruity, woody, notiony, blahblahblah) could cost you up to a grand if you buy it when it’s aged.

If you’re into your wine and you’re rich enough to consider buying a small, local football team that might sound reasonable.

Alternatively, you could get a perfectly serviceable wine (with 75 percent less notions) for €20 in the shop around the corner.

With Life Insurance, you could wait till you’re 50, or you could save a packet and get insurance when you’re younger.

5. The Widow’s, Widower’s or Surviving Civil Partner’s (Contributory) Pension isn’t a match for Life Insurance

You can’t get the Widow’s Pension at the same time as the State Pension. It’s whichever is higher.

Your entitlement to the Widow’s pension depends on the following, via Citizens Information:

citizens_information_pensions_entitlements

The weekly rates are:

Widow’s, Widower’s or Surviving Civil Partner’s (Contributory) Pension (from 30 March 2018)
ContributionsAged under 66Aged 66 or overAged 80 or over
48 or more contributions€203.50€243.30€248.30
36-47 contributions€200.50€238.50€248.50
24-35 contributions€198.00€232.90€242.90
Increase for Qualified Child (IQC)              €31.80

 

In theory, that seems grand – but it’s not exactly a huge amount of money.

Life Insurance would be a secondary ‘income’ for your family if you passed away. For the average 30-odd year old who doesn’t smoke, a Zurich and goes up to about €39 with Aviva.

To recap what that string of words means:

Those figures aren’t set in stone but it’s a decent example.

That €500,000 would make a huge difference to your loved ones and that €30 a month wouldn’t exactly break the bank. That’s less than a euro a day when you think about it.

I’m not sure it’d actually help with the whole ‘fear of death’ thing, but it’s definitely one less worry.

Over to you…

Life Insurance is never as complicated or as expensive as you think. If you’d like some help, please get in touch. We’ll go through your personal circumstances and draw up a plan that protects your family at a price you can afford.

Give me a call on 05793 20836 or complete the short form below.

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Do I need Serious Illness Cover if I have Health Insurance?

Okay, so you might think that Serious Illness Cover and Health Insurance are the same thing.

I mean, they’re pretty similar: insurance that covers you if you get sick – but that’s not entirely the case.

Think of it like Batman. So Batman is a bad-ass, but even he goes into battle with his trusty gadgets: his Batsuit, his Batmobile, and his utility belt.

In this metaphor, his Batsuit is Life Insurance: it’s his most important defence.
April 18 2018 4 min read Life Insurance

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