If you have a medical condition, we can help - call us at Have a medical condition? Call us: 057 93 20836

3 Ways You May Be Underinsured For Life Insurance

Stuck for time – here’s my 60 second audio summary

 

hand holding cotton wool

Let me know if this sounds familiar.

Although you’ve had to make drastic cutbacks, you’ve come through the worst of  the last few years.

Now you find your finances are finally under control, in fact you even have some money left over at the end of each month!

But what should you do with the extra few bob?

Before you start overpaying your mortgage or starting a pension, check to see if you’re protected from the three biggest threats to your financial security.

1. Death

I assume you have a mortgage protection policy to clear your mortgage?

Good.

This will keep your family in their home should you die.

But how will they pay for anything else?

  • Is your partner’s income sufficient to maintain the lifestyle you planned for them?
  • Have they enough savings they can use to replace your income?

If the answer is no, then you need to consider a life insurance policy.

How does life insurance work?

2. Illness

Ah but shur, I’ll never get sick, my parents lived till they were 400

Optimism is a powerful thing, and such thinking might keep illness away, I hope it does.

I really do.

However the facts don’t lie.

1 in 4 of us will get cancer.

Let that digest for a second.

If you go for lunch with 3 people tomorrow, the odds are, one you will get cancer in their lifetime.

Not because you went for lunch with them…just because of odds and stuff.

Serious illness cover pays a tax free lump sum if you contract a serious form of cancer, heart attack, stroke (and 58 other illnesses)

That lump sum will give you the freedom to take time off work to focus on recovery without the stress of how your bills will be paid.

It could literally save your life.

Which insurer is best for serious illness cover.

3. Injury

Physical health injuries (leg break, car accident, back injury) and mental health injuries (anxiety, stress, depression) are the main reasons people become unable to work.

If you can’t work, you can’t earn an income.

If you can’t earn an income…well you’re screwed.

Check with your employer whether you have a policy that covers long term disability.

I hope you have such a policy, but if you don’t you should consider insuring your income.

How does income protection work in Ireland?

Over to you…

Are you anxious that you may be under-insured?

  1. Don’t panic.
  2. Start small.
  3. Insure against all the things that threaten your family’s future.

If you need some help putting a plan in place that suits your budget, please get in touch.

Complete the short form below or call me on 05793 20836 and I’ll be right back.

Nick McGowan
lion.ie | making life insurance easier

life_insurance_schedule_a _call

Blog Income Protection Life Insurance Specified Illness Cover
Give us a quick outline of how we can help and we'll be right back to you.

Funeral Insurance in Ireland

Are you:

struggling to understand funeral insurance
worried you're going to put the wrong cover in place
fed up trying to make sense of different quotes

If so, this article will help clear things up.

Don’t know where to start?

Have a nose through our free guides

View our guides

Life Insurance Quotes - Free and Easy!

We’re an online life insurance broker. We compare life insurance quotes for mortgage protection, life insurance, specified illness cover and income protection from all 6 leading life insurance companies in Ireland, instantly and anonymously.

Watch our video